Home | News    Thursday 31 July 2003

UAE investors paid more than Dh40m to buy SudaTel shares

separation
increase
decrease
separation
separation

By Salah Eldin ELTAYEB

Khaleej Times

DUBAI — UAE businessmen and investors have paid more than Dh40 million to own shares in the region’s premier Telecommunication Corporation - SudaTel, increasing the UAE nationals’ equity in the corporation to more than 20 per cent.

The company has recently launched a sizeable five million shares in the international markets for the new expansion fibre optics scheme which will cover huge area in the Middle and South of Sudan.

The positive response by the UAE and Gulf investors was not a big surprise for us, for we know they prefer to invest in service sector projects in the Arab world or in the West.

When asked about the security and guarantees of the investments in Sudan, Dr Abdul Aziz Osman, General Manager, Sudatel. said:

"There is no guarantees when it comes to business, the more you risk capitals the more you earn, yet Sudan is a very secured place for any investor at the time being."

"We have many good examples of investors who have made fortunes investing in several sectors following the government policy of implementing privatisation and improving investments conditions.

"Capital always goes where profits can be made, thus Sudan has a lots of lucrative potential specially in service sectors.

"The company’s rapid growth of 37 per cent last year compare to the previous one and the decent records and portfolio were some of the catalysts boosted Sudatel position in the region."

"UAE share holders are among the major foreign shares owners in the corporation since its inception a decade ago with UAE Etisalat-Emirates Telecommunication Corporation has an equity of more than 10 per cent already."

SudaTel shares are already listed in Bahrain and Abu Dhabi Financial Exchange, the matter that encouraged many investors to buy shares and invest great deal in the corporation.

Asked about the steps of listing the corporation shares in Dubai Financial Market, Osman, said: "We are still weighting the possibility to part of the active DFM as long as it doesn’t clashes with the rules and regulations in the UAE.

"We have had a meeting with the Dubai Financial Market’s Director General Essa Kaism who has shown great enthusiasm in listing Sudatel in the active trading market."

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.

Comment on this article



The following ads are provided by Google. SudanTribune has no authority on it.


s
Sudan Tribune

Promote your Page too

Latest Comments & Analysis


Pragmatic patriarchy of Sudan over South Sudan 2018-09-22 09:28:17 James Okuk, PhD “We honour the human capacity to manage our collective lives with peace and even, at times, dignity” – Barbour & Wright The political process of Sudan and South Sudan has (...)

Salient features of South Sudan latest peace deal 2018-09-21 05:36:06 By Roger Alfred Yoron Modi Last week, the government of South Sudan under President Salva Kiir, various armed and unarmed opposition groups and other parties, including the SPLM/A-IO led by Dr (...)

Open letter to South Sudan Civil Aviation Authority 2018-09-19 04:05:10 By Telar Ring Deng On the cold morning of 9th September 2018, we were all in utter shock and bewilderment at the very tragic accident that occurred in Eastern Lakes State when a Plane crashed (...)


MORE






Latest Press Releases


Unity State community in Kenya supports Khartoum peace agreement 2018-08-17 08:33:21 PRESS STATMENT 14th Aug, 2018 Re: We shall Rally behind Khartoum Peace Agreement The Unity State Community Association in Kenya was established in 2010 to organize and mobilize the people of (...)

The Suspension of Hurriyat Online Newspaper 2018-04-29 07:04:37 Sudan Democracy First Group 28 April 2018 The Sudanese civil and political circles and those concerned with Sudan were shocked by the news that the management of Hurriyat online newspaper has (...)

Petition on the Deteriorating Human Rights and Humanitarian Situation in Sudan 2018-04-22 10:01:20 UN Secretary-General, New York African Union Commission, Addis Ababa UN High Commissioner for Human Rights, Geneva Petition on the Deteriorating Human Rights and Humanitarian Situation in Sudan (...)


MORE

Copyright © 2003-2018 SudanTribune - All rights reserved.