Kuwaiti headquartered telecoms group Zain has reiterated its intention to enter the North African market.

Earlier this year, the company told a Dubai-based publication that it has plans on entering the Libyan market.

And the company’s chief executive officer Scott Gegenheimer has been quoted by Reuters over the weekend regarding Zain’s intention to expand in North Africa.

Zain, which operates in eight mostly Middle Eastern countries that include Iraq, has a 15.5% stake in Moroccan mobile operator inwi. But inwi is Zain’s only presence in North Africa.

The Kuwaiti firm plans to increase its holding in inwi and seek management control of other operators in North Africa as opportunities arise, Gegenheimer said in an interview at the Reuters Middle East Investment Summit.

"North Africa looks very interesting and there are always opportunities coming up. We are looking across the board, whether it is Tunisia, Algeria, Morocco - increasing our stake there would be interesting for us," said Gegenheimer.

Gegenheimer, who became Zain's chief executive last December, said his company could also consider entering Egypt because of its population size. But Reuters says he noted competition is fierce among mobile operators in the country.

Zain is also watching Libya, where a tender to manage the monopoly telecommunications operator was put on hold in March. The government has also said it wants to award Libya's first private mobile phone licence next year.

"We think (Libya) is an untapped market that would fit our portfolio fairly well," Gegenheimer said.

"We see it as an opportunity. We have to make sure that we minimize the risk...We wouldn't blindly go into any operation," he added.

"We would be interested in pretty much anywhere in North Africa."

Zain made a net profit of 113 million dinars ($401 million) in the first half of this year, on consolidated revenues of 612 million dinars. It says it has a customer base of 44.4 million.

Zain sold most of its Africa assets to India's Bharti Airtel for $9 billion in 2010. The company also attempted unsuccessfully to offload its stake in Saudi affiliate Zain Saudi in 2011.