FINANCIAL NEWS

Watanya’s Nedjma, Tunisiana expected to boost total earnings

18 Jun 2012

(MENAFN) Brokerage firm SICO Investment Bank issued a report saying that Kuwaiti telecom operator Wataniya’s operations in Algeria and Tunisia are poised to boost the company’s overall growth, Reuters reported.

SICO forecasted the two North African units to contribute 76 percent to Watanya’s incremental revenue growth during 2012-2014, the report said.

For Wataniya’s Algerian unit, Nedjma, the report said that it was gaining higher usage and ARPU (average revenues per user), driven by its attractive offers, boosting its revenue and margins. SICO predicted the trend to continue.

SICO also expected Nedjma to benefit from its significant investments in network infrastructure, helping the company acquire and retain corporate and high value customers.

For Wataniya’s Tunisian arm, Tunisiana, which recently won 3G and fixed line licenses, SICO said that it is expected to launch 3G services this July.

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