Virgin Mobile Middle East and Africa has secured the necessary funding to expand its operation in the country from Wafra Investment International and Impulse International.
Event Location
Kuwait , Kuwait
Start Time
21 April 2021, 12:00 AM
End Time
30 April 2021, 12:00 AM
Wafra Investment International, Impulse International, and Virgin Mobile Middle East and Africa, the region’s leading mobile virtual network operator (MVNO), today jointly announced their intention to launch in Kuwait.
According to the jointly announced statement, this partnership aims to create an expansion in local technological services, which will contribute to enhancing the digital infrastructure and economic development of Kuwait.
Commenting on the partnership, Wafra International Investment Company CEO, Ghazi Al Hajeri, said, “Debt funding of $13 million has been provided by Wafra to allow expansion of the Virgin brand into the Kuwait market. This is the first investment of its kind to set up a virtual telecommunications network.” He also said that the investment in Virgin Mobile Kuwait positions Wafra on the company’s Board of Directors.
“Wafra’s new strategy aims at attracting investments that are developmental in nature, while seizing unique investment opportunities through enabling companies to offer the best digital and technological services,” Al Hajeri added.
Virgin Mobile funding Kuwait expansion
