Zain Group, the Kuwaiti-based telecommunications firm, is on the prowl for acquisitions in North Africa, searching for management contracts and equity purchases in sectors related to telecommunications industry, it has emerged.

Over the next 18 months or two years, there will be more acquisitive activity in ISPs, fibre plays and data centre providers, Scott Gegenheimer, the Zain Group CEO, has confirmed to Arabian Business.

He said his company is also interested in “larger acquisitions” in the Middle East and North Africa (MENA) region, adding North Africa is more exciting in this regard.

Gegenheimer did not disclose the amount of money it wanted to spend on acquisitions in the next two years, but warned it would not over-pay for any assets.

The company’s crosshairs are focusing on Morocco, where Zain holds a significant shareholding in inwi, the country’s third biggest mobile phone firm.

Gegenheimer said Zain wanted to increase its shareholding in inwi, describing inwi as “well-run.”

Zain also likes the troubled Libya and particularly wants to do a management contract in the country.