African market offers more than 180 million subscribers for the telecom industry. It offers a great potential for telecom industrialists and there had been many stakeholders trying to invest in this growing market that offers great potentials even in the times of recession. Telecom sector has offered a lot even when the financial analysts were thinking that the industry is now close to saturation, the technology boom and enhancements in the mobile applications saved the day and kept the significance of mobile service providers, as they started giving support to the new features added creatively.
There was a time when the two Middle Eastern giants rule the African market, one is the UAE based Etisalat, and the other is Zain’s telecommunication.
There has been a deal going on between the owners of Etisalat and Zain’s that the later company will send a large number of its shares to Etisalat. The deal was almost done and it was speculated that Zain’s telecommunication was going to be almost half sold to the Etisalat, everybody was certain and things were going smooth, when the African continent saw a dawn of an Indian giant, the very owners of Airtel in India.
Suddenly it was revealed to the world that the Indian giant acquired the African champion Zain’s once and for all, keeping the owners of another African giant form the Middle East stunned, and in panic.
Image courtesy: Awareness Times
By acquisition of Zain’s to the Airtel it became evident that the Indians are cruising and they have big business interests and ambitions in the region. If the Indians kept on going like this it may be possible for them to acquire its rivals and establish their monopoly in the region and consequently in the world.