Monday, December 1, 2025
26.3 C
Lagos

Saudi Arabia Bans Foreigners from Selling Mobile Phones

Saudi Arabia’s government has passed a decree banning foreign workers from selling and maintaining mobile phones and accessories for them.

It is also requiring that retail stores are at least 50% staffed by Saudi nationals within three months, and be entirely staffed by locals within six months.

The Ministry of Commerce and Industry said that the deadline to Saudise the telecom sector will come into effect on 2nd July.
Violators face up to two year in prison and will be deported.

The moves after reports that more than half of phone retailers in the country are owned by a Saudi national in name only, and are fronts for foreign investors.

It could also see around 20,000 Saudi’s offered jobs in the retail sector, and may be seen as the beginnings of a more aggressive move to create non-oil jobs for Saudi nationals.

spot_img
spot_img
spot_img

Hot this week

NGX T+2 Settlement Cycle ‘Goes Live’ Event

L – R: Chinwendu Ekeh, Head, Operations & IT,...

Dangote Contracts Honeywell for Major Refinery Capacity Upgrade to 1.4m BPD

Dangote Group is pleased to announce that it has...

AIICO Launches All-in-One Financial Protection for Nigeria’s Underserved Population

L-R: Mr. Mike Eko – (Novus Agro Limited) Mr. Oluwatosin...

NNPC Declares ₦5.4tn Profit After Tax

NNPC Limited has announced its financial performance for the...

Stanbic IBTC Unveils Digital Lending Suite to Enhance Access to Credit

Stanbic IBTC Bank, a member of Standard Bank Group,...

Topics

CHI Reports N10.8bn Total Assets Ending 2018

Consolidated Hallmark Insurance (CHI) Plc has reported total assets...

‘Connected Industries Vulnerable to Cyber-attacks, Liability Risks’

Three utilities companies in the Ukraine, the Israel National...

CIIN, NYSC Partner on Insurance Development

CIIN Deputy DG; Mrs. Uju Chukwu, CIIN DG; Mr....

NEXIM Bank to Generate $5bn Yearly via Export Facilities

The Nigerian Export-Import Bank (NEXIM Bank) recently launched two intervention products targeted at promoting the country’s non-oil exports. The funds are the N500 billion Export Stimulation Facility (ESF) and the N50 billion Export Rediscounting and Refinancing Facility (ERRF). These intervention funds by Central Bank of Nigeria (CBN) are part of the efforts of the Federal Government to address the persistent overdependence of the economy on revenue from crude oil exports.

3rd African Blogger Awards Explore Social Issues

The third annual African Blogger Awards competition that opened...

African Leaders Seek World Bank Support on Power

Speaking at the World Bank meeting in Bali this...

InterswitchSPAK 4.0 Finalists Nudge for N7.5m University Scholarships

As the semifinals of the InterswitchSPAK National Science Competition...

Market Statistics Tuesday, 26th September 2017

Market Cap (N'bn)              12,048.5 Market...
spot_img

Related Articles

Popular Categories

spot_imgspot_img