Japan-based e-commerce and telecoms giant Rakuten has strongly hinted at establishing increased presence in the Middle East and Africa, following the launch of low-cost 5G services in its home territory.

Tareq Amin, executive vice president and chief technology officer (CTO) told reporters at a round table that the company sees the region as “an amazing opportunity”, not only for 5G, but for the Rakuten ecosystem as a whole, whether it be fintech, banking or membership.

Rakuten is considered Japan’s counterpart to Amazon.

“We look at Middle East and Africa as an amazing opportunity for Rakuten,” said Amin, citing that the company’s global head of sales and marketing, Rabih Dabboussi, is based in Dubai. Dabboussi joined Rakuten Communications Platform from UAE-based cyber security company Dark Matter earlier this year.

“We have hired Rabih for a reason,” he said.

“We had incredible discussions with the largest mobile operators in the region. In another ten days, you will hear some announcements that will give you an insight to what our ambitions and our plans to further enhance our partnership and collaboration in the region [are].”

Amin was speaking after Rakuten’s launch of its 5G services in parts of Japan, which it is offering for 2,980 Japanese yen ($28) per month, said to be 67 percent cheaper than its rival operators, as well as its new 5G-enabled smartphone Rakuten BIG.

The company has said it expects its 5G services to be available across Japan by March 2021.

Rakuten was founded in Japan in 1997 as an online shopping website and had its initial public offering (IPO) on the JASDAQ market in 2000. 

It has since dramatically broadened its scope, through acquisitions and expansions, to include its own professional baseball franchise, the Tohoku Rakuten Golden Eagles. It launched an e-commerce venture in Taiwan, as well financial services, e-books, a loyalty points system and telecoms.  

(Reporting by Imogen Lillywhite; editing by Cleofe Maceda)

Imogen.Lillywhite@refinitiv.com

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2020