Total investment in Celtel Zambia to reach USD$400 million by 2007 (16/03/2007)
 

Dr. Saad Al-Barrak, Managing Director and Deputy Chairman, MTC Group announced the setting up of a US$ 250,000 (local currency one billion Kwacha) fund for children in Zambia while on a two day visit to the country to acquaint him with investment opportunities in the country. The Celtel Bursary Fund will pay for five years of education fees for vulnerable children.
 
 
During his visit, Dr Saad Al Barrak called on the President of Zambia H.E. Levy P. Mwanawasa (SC) at the State Lodge in Lusaka. In the meeting, Dr Barrak pledged that MTC Group's new investments in Zambia will exceed US$ 130 million during 2007 bringing the total investment so far to almost US$ 400 million.

Prior to his meeting with the President of Zambia, Dr. Saad Al Barrak visited a school to assist the local Celtel management who were presenting a donation. He was so moved during his visit that he doubled the contribution and he took the necessary steps to expedite the establishment of US$250,000 fund that will provide needy children a basic education.

He also donated books through Celtel's Build Our Nation program to Mutambe Basic School in Mandevu Compound in Lusaka.

Celtel launched its Build Our Nation programme two years ago in partnership with the Ministry of Education. Since then the company has donated more then US$ 120,000 worth of text books and educational supplies to more than 20 government owned schools across in Zambia.

Launching its service in 1998, Celtel Zambia continues on being a success story serving over 1.33 million active customers. Covering all nine provinces in Zambia, it is the country's most innovative mobile phone operator being the first to introduce GSM services, first to introduce roaming, the first to have both per-second and per-minute billing as well as offering customers a wide range of advanced data and voice services.

This was Dr. Barrak's first visit to Zambia since MTC Group acquired the pan African mobile telecommunications operator Celtel International in April 2005.

Source: All Africa

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