Latest news with #Turkcell
IOL News
2 days ago
- Business
- IOL News
BRICS+ Series: Gulf Capital Powers BRICS+ Future
UAE President Sheikh Mohamed bin Zayed al-Nahyan (rear L) and French President Emmanuel Macron (rear R) look on as France's Minister for Europe and Foreign Affairs Jean-Noel Barrot (R) and CEO of Mubadala Investment Company Khaldoon Al Mubarak (L) sign an agreement on AI during a ceremony as part of Zayed al-Nahyan's visit to France at the presidential Elysee palace in Paris, on February 6, 2025. Global experts will debate threats from artificial intelligence (AI) at a gathering in Paris on February 6-7, 2025, ahead of a summit of world leaders on the fast-moving technology. In recent years, capital from the Arabian Gulf has become an increasingly significant force in shaping the infrastructure and digital landscapes of emerging markets. While historically known for oil and gas wealth, Gulf states are now repositioning themselves as global investment hubs with a clear focus on technology, infrastructure, and sustainable development. Nowhere is this shift more evident than in the wave of Gulf-funded data centre projects emerging in BRICS+ nations—highlighting a powerful opportunity for deeper cooperation across the Global South. A compelling example of this new dynamic is unfolding in Turkey, a prospective BRICS+ partner and regional digital leader. The Turkish e-commerce platform Trendyol has entered into a landmark partnership with UAE-based Castle Investments, led by Gulf Data Hub founder Tarek Al Ashram, to build a state-of-the-art data centre in Ankara. Valued at $500 million, the facility will eventually host 48 megawatts (MW) of computing capacity. Sixty percent of that capacity will be dedicated to Trendyol's own operations, while the remainder will support external clients. As Trendyol President Çağlayan Çetin put it, the project reflects the company's "confidence in Turkey's strong digital ecosystem" and underscores its commitment to local and regional expansion. The project is only the beginning. Gulf financial institutions such as Dubai Islamic Bank and Emirates NBD have extended substantial credit lines to Turkcell, one of Turkey's largest telecom providers. These loans—totaling more than $263 million—are aimed at expanding Turkcell's infrastructure and boosting its data centre capabilities. Meanwhile, Khazna Data Centres, based in Dubai, has also confirmed its investment in the Ankara data hub and announced plans to build an artificial intelligence (AI) facility with up to 100MW of capacity. Infrastructure Investment as a Pathway to Industrialisation These developments illustrate how Gulf capital is helping to scale up critical digital infrastructure in Turkey, with ripple effects that promise to boost entrepreneurship, industrial capacity, and regional integration. This model offers critical lessons for BRICS+ nations seeking to mobilise cross-border investment aligned with their development priorities. One of the most immediate impacts of Gulf investment is its role in closing the infrastructure gap across BRICS+ countries. In many of these economies, outdated or underdeveloped infrastructure remains a constraint on growth and innovation. The injection of Gulf capital, particularly into high-impact sectors like telecommunications, logistics, and clean energy, can help fast-track infrastructure modernisation. These investments are not just financial; they often come bundled with operational expertise, technology transfers, and long-term partnerships that contribute to sustainable industrial growth. The Turkish example, where Gulf-backed data hubs are accelerating digital transformation, is a case study in how targeted infrastructure finance can act as a multiplier for broader economic development. Fueling Digital Ecosystems and South-South Cooperation Beyond infrastructure, Gulf investments are enabling the diffusion of cutting-edge technologies that support industrialisation and inclusive innovation. By establishing high-performance data centres and AI facilities, investors are laying the foundation for BRICS+ countries to harness the full potential of the Fourth Industrial Revolution. These platforms create environments in which startups, SMEs, and research institutions can flourish. According to Gökhan Say, CEO of CyBridge Capital, the more infrastructure that is built, "the more players entering the market," leading to dynamic ecosystems that empower local innovators and facilitate global integration. In Turkey, such developments are already creating cost-effective pathways for start-ups to scale globally, a pattern that could be replicated across Africa, Latin America, and Asia. At a geopolitical level, Gulf-BRICS+ investment partnerships signify a profound shift toward a more balanced and multipolar world order. As traditional Western capital flows become more risk-averse or politically conditional, countries within the Global South are increasingly turning to one another for financing, expertise, and development cooperation. The growing involvement of Gulf investors in BRICS+ economies aligns with this broader movement toward South-South collaboration. These investments offer financial autonomy while reinforcing the strategic ties that underpin the BRICS+ framework. By investing in infrastructure and technology in allied regions, the Gulf states not only diversify their own economies but also contribute to building a more resilient and interconnected Global South. The Gulf's deepening role in BRICS+ investment is more than opportunistic finance—it is a strategic lever for economic transformation. By targeting high-growth sectors like digital infrastructure, AI, and clean energy, Gulf investors are helping to realise the developmental aspirations of the BRICS+ group. The partnership between Trendyol and Castle Investments is not just about data—it's about a new architecture of cooperation where capital, technology, and trust flow southward, redefining the future of global development. Written by: *Dr Iqbal Survé Past chairman of the BRICS Business Council and co-chairman of the BRICS Media Forum and the BRNN *Chloe Maluleke Associate at BRICS+ Consulting Group Russian & Middle Eastern Specialist **The Views expressed do not necessarily reflect the views of Independent Media or IOL. ** MORE ARTICLES ON OUR WEBSITE ** Follow @brics_daily on Twitter for daily BRICS+ updates and instagram @brics_daily
Zawya
4 days ago
- Business
- Zawya
Turkcell seeks extension of licences to 2045, media says
ISTANBUL - Turkish mobile phone operator Turkcell has requested that its current licences be extended until 2045 and expects a 5G tender to be held this year, its Chief Executive Ali Taha Koc was reported on Tuesday as telling journalists. Koc was also cited as saying by the news website that if Turkey's current fibre infrastructure were sold off, the estimated valuation was $2.5 billion. "As Turkcell, we request that the current licences be extended until 2045 along with the 5G licence," he was quoted as saying, noting that 2G, 3G and 4G licences will expire in 2029. Turk Telekom owns and maintains 78% of Turkey's 577,000-kilometre (359,000-mile) national fibre network through a concession agreement that is set to expire in 2026. Last November, a senior official told Reuters that Turkey was considering adopting a unified fibre optic telecoms entity to expand its network, signalling it could create a separate manager for the expensive infrastructure investments, though no decision on this has been announced. "We need fibre optic cable infrastructure," Koc was reported as saying. "We have put bulk fibre infrastructure purchase as an option to move forward quickly, especially in 5G. Therefore, it is necessary to prepare the financing." "If the fibre cable infrastructure of the operator in question is put out to tender, a value of $2.5 billion could be possible," he added.
Reuters
4 days ago
- Business
- Reuters
Turkcell seeks extension of licences to 2045, media says
ISTANBUL, June 17 (Reuters) - Turkish mobile phone operator Turkcell ( opens new tab has requested that its current licences be extended until 2045 and expects a 5G tender to be held this year, its Chief Executive Ali Taha Koc was reported on Tuesday as telling journalists. Koc was also cited as saying by the news website that if Turkey's current fibre infrastructure were sold off, the estimated valuation was $2.5 billion. "As Turkcell, we request that the current licences be extended until 2045 along with the 5G licence," he was quoted as saying, noting that 2G, 3G and 4G licences will expire in 2029. Turk Telekom ( opens new tab owns and maintains 78% of Turkey's 577,000-kilometre (359,000-mile) national fibre network through a concession agreement that is set to expire in 2026. Last November, a senior official told Reuters that Turkey was considering adopting a unified fibre optic telecoms entity to expand its network, signalling it could create a separate manager for the expensive infrastructure investments, though no decision on this has been announced. "We need fibre optic cable infrastructure," Koc was reported as saying. "We have put bulk fibre infrastructure purchase as an option to move forward quickly, especially in 5G. Therefore, it is necessary to prepare the financing." "If the fibre cable infrastructure of the operator in question is put out to tender, a value of $2.5 billion could be possible," he added.
Zawya
09-06-2025
- Business
- Zawya
South Africa: Turkcell opposes MTN's Constitutional Court appeal in $4.2bln Iran licence case
Court to decide whether long-running dispute proceeds to trial in South Africa. Turkcell's subsidiary, East Asian Consortium B.V. (EAC), has filed papers opposing MTN's application to the Constitutional Court for leave to appeal a recent Supreme Court of Appeal (SCA) ruling. The SCA judgment, handed down in April, confirmed that South African courts have jurisdiction to hear EAC's $4.2bn civil claim against MTN over an allegedly tainted telecom licence in Iran. Background to the dispute The case relates to Turkcell's long-standing allegations that MTN and its former executives used bribery to secure a GSM licence in Iran that was initially awarded to Turkcell in the early 2000s. MTN has denied wrongdoing. Turkcell's filing is the latest development in a case that has seen years of procedural delays and jurisdictional challenges. Arguments against MTN's appeal In its submission, Turkcell argues that MTN is attempting to delay proceedings and avoid a trial. The company also questions MTN's ongoing reliance on the Hoffmann Report—an internal investigation commissioned by its board—as evidence of exoneration, saying it lacked the independence and transparency of a court process. Turkcell further rejects MTN's argument that Iranian courts would offer a fair and appropriate venue for the dispute. Next steps The Constitutional Court must now decide whether to grant MTN leave to appeal. A decision is expected within three months. Turkcell is represented by Vasco de Oliveira Incorporated, with counsel Alistair Franklin SC and J.J. Meiring. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
IOL News
05-06-2025
- Business
- IOL News
MTN, Turkcell legal wrangle over allegations of bribery continues
Turkcell is set to oppose MTN's bid in the Constitutional Court Image: supplied Turkish mobile network operator, Turkcel, is set to oppose MTN's bid in the Constitutional Court to appeal a recent ruling that will allow allegations of bribery against MTN to be heard in South Africa. MTN, Africa's largest mobile network operator, approached the Constitutional Court arguing that South Africa doesn't have jurisdiction to hear legal bids over alleged corruption in Iran, and the matter should be heard there. In April, the Supreme Court of Appeal (SCA) allowed Turkcell to present evidence alleging MTN committed bribery and corruption to overturn an Iranian GSM licence award. The SCA ruling marked the first time a South African court determined whether misconduct allegations abroad could be heard locally. On Thursday, Turkcell said it was opposing MTN's application to the Constitutional Court. In a statement, it said that this was 'in Turkcell's ongoing pursuit of justice for damages estimated at over $4.2 billion, stemming from allegations that MTN paid bribes to Iranian and South African officials to overturn a public tender awarded initially to Turkcell for a multi-billion-dollar GSM telecom license in Iran'. Should Turkcell be victorious in its defence of MTN's appeal, Turkcell can take its allegations of bribery to the Johannesburg High Court. Its previous bid, two years ago, failed with a finding then by that court that South Africa was not the correct geography to hear the matter. This is the decision that has been overturned through the SCA ruling. Turkcell's legal wrangle with MTN dates back more than a decade, when it initially approached the US courts in an action it later retracted, contending that MTN secured its 49% stake in a telecommunications licence in Iran through bribery. Turkcell said that the local 'case has significant implications for South Africa's stance on international bribery and corruption'. The Turkish operator argues that MTN paid off both Iranian and South African officials to overturn a public tender, which it lost to Turkcell, for a multi-billion-dollar opportunity to run an Iranian GSM telecom licence. MTN has denied these allegations, publicly stating that it has always 'maintained that the Turkcell litigation was without merit and has expressed confidence that it would successfully defend these proceedings'. In 2012, the UK's Lord Leonard Hoffmann released a report that exonerated MTN of any shady dealings in securing the licence. In part, the report stated: 'All the allegations are a fabric of lies, distortions and inventions.' Cedric Soule, counsel for Turkcell, said that MTN's reliance on this report, which its commissioned, is improper as 'the process that MTN put together lacked the independence, rigour and transparency of a judicial proceeding'. Soule added that 'the Hoffmann Committee failed to interview key witnesses, did not independently gather or assess evidence, and did not use independent counsel; its conclusions are therefore unreliable and irrelevant to the current proceedings'. MTN, however, has said that 'these claims were the subject of a comprehensive and independent investigation led by Lord Hoffmann, the findings of which did not support the allegations'. The Constitutional Court will now decide whether to grant the request for leave to appeal filed by MTN and the other defendants. Turkcell expects a decision within three months.
