Kuwait to make public sector workforce ‘100% Kuwaiti’

According to the sources, the ultimate goal is for the total workforce of the public sector to be solely comprised of nationals. (Shutterstock)
Updated 22 October 2018
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Kuwait to make public sector workforce ‘100% Kuwaiti’

  • The ultimate goal is for the total workforce of the public sector to be solely comprised of nationals
  • The Kuwaitization drive is part of a government’s push to recruit more of its citizens

DUBAI: Kuwait’s public sector is on track to achieve a 100 percent Kuwaiti workforce, according to sources close to the country’s minister of commerce and industry, local daily Kuwait Times reported.

According to the sources, the ultimate goal is for the total workforce of the public sector to be solely comprised of nationals.

An employment committee of the Gulf country’s National Assembly was formed to address the issue of high unemployment rates among Kuwaiti nationals by allocating jobs for them in the public sector and relieving expatriates of their roles there.

Kuwaiti MP Mohammad Al-Dallal on Sunday called for the need to check the growing numbers of certain expatriate communities, especially the Egyptian and the Filipino communities.

The Kuwaitization drive is part of a government’s push to recruit more of its citizens, a similar push is underway across the GCC where countries like Saudi Arabia and Oman have also been trying to increase the number of locals in employment.


Kuwait Projects Co. hires Goldman Sachs for sale of OSN — sources

Updated 21 November 2018
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Kuwait Projects Co. hires Goldman Sachs for sale of OSN — sources

DUBAI: Kuwait Projects Co. (KIPCO), the Gulf state’s largest investment company, has hired Goldman Sachs to advise it on the sale of its majority stake in pay-television operator OSN, sources familiar with the matter told Reuters.
OSN, which this year signed the first partnership deal in the region with Netflix, posted a 71 percent drop in income in the three months to Sept. 30, according to KIPCO’s latest financial results.
KIPCO and Goldman Sachs declined to comment.
KIPCO said in the results, released last week, that the company’s board had approved initiating a plan to divest its 60.5 percent equity interest in Panther Media Group, also known as OSN, and had engaged an international investment banker for the purpose. It did not disclose the name of the banker.
With the rights to broadcast into countries across the Middle East and North Africa, OSN has more than 180 channels, according to its website. Its other shareholder is Mawarid Group.
OSN faces subdued demand in its core markets due to piracy, geopolitical factors and fiscal reforms by governments which have led to sizeable expatriate populations leaving some of its core markets, said Anuj Rohtagi, director of group financial control at KIPCO in KIPCO’s third-quarter earnings conference call on Nov. 15. He added OSN was taking action to cut costs and attract new customers.
It is not the first time KIPCO has explored offloading at least some of its stake in OSN. In 2014, it said it planned to start the process for an initial public offering of OSN shares.