Rating agencies confirm Etisalat competitive edge

Recent studies by Standard & Poor’s (A +), Moody’s (Aa2) and Fitch Rating (AA-) have confirmed the fastest growing telecommunications company in the world, Etisalat, as having a very strong competitive edge.

The studies in their inaugural international corporate credit ratings affirmed that Etisalat is a company to beat among telecommunications operators.

The strong credit ratings are among the highest of all globally rated telecommunications companies and reflect Etisalat’s strong competitive position, superior profitability and a proven ability to deliver strong and growing cash flows.

ITRealms Online also recalls that last month, the global rating of the fifth Global System for Mobile communications (GSM) operator, Etisalat, continued to soar ahead of its commercial launch in the country by Financial Times rankings (FT500).

Commenting on the outstanding ratings, Chairman, Etisalat Nigeria, Mr. Hakeem Belo-Osagie, said the ratings are fitting testimonials to Etisalat’s high standards of performance.

“These coming just as we fine-tune plans to deliver commercial services to Nigerians, strengthens our commitment to replicating the prudent financial strategy in order to build a network that is stable and offers Nigerians access to world class telecommunications,” he said.

Belo-Osagie added that this confirms that the telco has the right caliber of personnel even in its operations in the country.

“We are capable of maintaining Etisalat’s track record in quality services, stable growth, as well as in other areas of our operations,” he assured.

He pointed out that Etisalat, is the leading telecom provider in the United Arab Emirate (UAE) and has a solid track record in the UAE over the past 30 years.

Emphasizing, this is evident in robust operating and financial position of the telco which has resulted in superior market share across its businesses in 15 other countries, serving an aggregate of 63 million subscribers.

In a related development, according to the Financial Times rankings (FT500) released recently, Etisalat rose from 444 in the year 2007 to 219 in 2008, in what the ranking described as the equivalent to 14th position in the telecoms sector globally, that is, when compared with fixed and mobile operators, especially within the Middle East and Africa (MEA).

This, officials of the telco said was an indication aligned to the vision of becoming one of the top 10 global telecom operators in the world in terms of market capitalization by 2010.

Equally, this ranking FT stated placed Etisalat as the largest telecommunications company in both the Middle East and Africa, forward against all other regional and international operators in the two regions.

Reacting to the ranking result at the weekend in Lagos, Chairman, Etisalat Nigeria, Mr. Hakeem Belo-Osagie, expressed delight at Etisalat’s new global ranking.

“Etisalat entered Nigeria undisputedly as a leader in Africa. Etisalat Nigeria is therefore in a unique position to leverage on this global strength on all fronts,” he said.

He said that access to this rich pool of knowledge, skills and excellence would ensure that Nigerians have access to the world-class telecommunications services that Etisalat subscribers enjoy everywhere the telco operates.

He added that during the last quarter, Etisalat Group received recognition for its commitment to transparency with regards to financial data and relationship with investors.

ITRealms Online recalls that the prestigious United Arab Emirate (UAE) Securities and Commodities Authority was recently presented to Etisalat with the SCA Diamond Standard for Financial Transparency for the year 2007.

On the verge of commercial launch in Nigeria, Etisalat serves over 63 million subscribers across 16 countries in two continents.

Meanwhile, Etisalat has reiterated its commitment to provide Nigerians with its trademark quality of service, assuring would-be subscribers that the network was undergoing its final stages of testing prior to its commercial roll out.

Speaking at the just concluded West and Central Africa Communications Congress in Abuja, Vice President Marketing, Mr. Wael Ammar, said Nigeria fits into Etisalat’s vision to offer world-class services to the citizens because of the country’s enormous potentials.

Mr. Ammar said this in a presentation titled: ‘Etisalat’s strategies for maximizing growth in West and Central Africa Communications market,’ said the telco’s commitment to raise the quality of services available to Nigerians underlines its $1.4 billion initial investment in the Nigerian economy.

He explained that as a caring operator, Etisalat recognizes the importance and responsibility of balancing profitability and growth along side long term sustainability, stating that its expansion strategy in the West and Central African region is driven not only by market potential but also by the opportunity for Etisalat to add value to lives of the people.


ITREALMS Online ... delivering news for ICT4D