Kabul attack a blow to Monaco Telecom

roshanLast week’s terror attack in the Afghan capital left 90 dead and more than 400 injured, and caused considerable damage to Kabul’s infrastructure.

While the target of the attack claimed by ISIS may have been the German Embassy, the local affiliate of Monaco Telecom – Roshan – suffered severe damage. The company has estimated that a third of the victims of the outrage were employees of the company, whose HQ in the country is directly opposite the Ambassador’s residence.

Monaco Telecom owns a 36.37 percent operating stake in the mobile operator, which describes itself as a true Afghanistan success story.

“Since its inception in 2003, Roshan has invested approximately $700 million (€620 million) in Afghanistan and is the country’s single largest private investor and taxpayer, contributing approximately five percent of the Afghan government’s overall domestic revenue. Roshan directly employs more than 900 people, 20 percent of whom are women, and provides indirect employment to more than 35,000 people,” the company says.

The majority shareholder in Roshan is the Aga Khan Fund for Economic Development, with 51 percent of the company. With Telia owning 12.25 percent, Monaco Telecom is the chief technological partner of the company.

Monaco Telecom has major stakes in telecoms operators in Kosovo and Mali. French businessman Xavier Niel acquired Monaco Telecom in 2014.

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