Truecaller Crosses 100 Million Monthly Active Users in Middle East and Africa
" With the Middle East and Africa experiencing significant growth in smartphone adoption and mobile data adoption, we're really happy that we're able to solve communication problems for individuals and businesses in that region. MEA, like India and many other markets, are mobile first markets with your mobile number being the primary identifier and Truecaller has always grown organically in such markets. We're continuing to strengthen our organization and our partnerships in the region, because we believe that the MEA is poised for significant growth for many years ahead" said Rishit Jhunjhunwala, CEO, Truecaller.
Some of the largest markets in MEA for Truecaller are Egypt, Nigeria, South Africa, Kenya, Algeria, Ghana, and Jordan. Typically, Truecaller is used on 20-45% of connected smartphones in these markets.
Hashtag: #Truecaller
The issuer is solely responsible for the content of this announcement.
About Truecaller
Truecaller is an essential part of everyday communication for over 450 million active users, with more than a billion downloads since launch and close to 56 billion unwanted calls identified and blocked in 2024 alone. The company has been headquartered in Stockholm since 2009 and has been publicly listed on Nasdaq Stockholm since October 2021. Visit www.truecaller.com for more information
For more information, please contact:
Andreas Frid, Head of IR & Communication,
+46 70 529 08 00,
andreas.frid@truecaller.com
Truecaller
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
15 minutes ago
- Zawya
ACICO reports net profit of KD 8.3mln and operating profit of KD 3.5mln in Q2 2025
Maintains stable prices and supports the local market amid operational developments Kuwait: ACICO Group announced its financial results for the second quarter of 2025, reporting a net profit of KD 8.3 million, marking a major turnaround from the net loss of KD 2.3 million recorded during the same period in 2024. The results reflect the company's stringent cost control policy, enhanced operational efficiency, continued progress in implementing its financial restructuring plan and its operational strength that positions it as a partner of choice in key infrastructure projects in Kuwait and the region. Commenting on the results, Chairman of the Board Mr. Emad Abdullah Al Essa stated: 'We are entering a new chapter that paves the way for strengthening our financial position in line with our solid operational track record and sector-wide achievements. We have built a strong foundation rooted in operational efficiency, prudent management and a clear commitment to sustainable growth, ensuring long-term value for our shareholders, customers and the community. With confidence, we are moving forward toward achieving financial and operational balance that reinforces ACICO's position as a leading national company aligned with Kuwait's and the region's development ambitions.' Sales from industrial operations grew by 7.9% to KD 35.6 million. Gross profit margin improved from 17% to 18%, and selling, general and administrative expenses remained flat year on year. Despite these improvements, the company recorded an operating profit of KD 3.5 million, compared to KD 5 million in Q2 2024. This variance is primarily due to the exclusion of real estate revenues following the divestment of certain assets as part of the company's restructuring efforts, which have significantly reduced total liabilities and interest expenses from KD 8 million to KD 3.7 million. Restructuring Enhances Financial Position During the quarter, ACICO finalized a major debt restructuring agreement with a creditor bank for a total liability of KD 128.5 million. The agreement, which aligns with the Group's approved financial restructuring plan, resulted in a non-recurring gain of KD 3.5 million and a corresponding increase in shareholders' equity. The agreement included a multi-phase implementation plan, comprising the transfer of a property worth KD 60 million, a partial cash repayment of KD 2 million, direct debt discounts, and the conversion of part of the debt into preferred shares. The Group reaffirmed that this agreement is a continuation of its comprehensive financial restructuring strategy endorsed by the Board of Directors, aimed at strengthening financial efficiency, fortifying the balance sheet, and reinforcing ACICO's position as a leading regional player.
Khaleej Times
15 minutes ago
- Khaleej Times
UAE: Job offer during probation? What the law says about resigning during first 6 months
Are you currently on probation and received another job offer? Or perhaps you've decided to resign and leave the UAE altogether. Before making a move, it's important to understand the regulations that govern resignations during your first months with a company. UAE's Federal Decree-Law No. (33) of 2021 on the Regulation of Employment Relationships and its amendments have defined the specific commitments that employees need to adhere to if they wish to leave their jobs while on probation. According to this law, an employee's probation period cannot exceed six months. Any probationary term longer than that is unlawful. Conditions governing resignation during these six months aim to protect the employer's rights as well as enhancing labour market flexibility, competitiveness, and ease of doing business. The UAE Ministry of Human Resources and Emiratisation (MoHRE) has recently shared these regulations explained. Switching jobs inside the country If an employee wishes to move to another job withing the country, they must notify their employer at least one month in advance. Employees can choose between doing this or compensating their employer with an amount equal to their wage for the notice period or the remaining duration. The old employer has the right to demand that the new one compensate them for the costs of recruiting and contracting with the worker. Resigning to leave the UAE If the employee wants to terminate their contract during the probation period in order to leave the country, they must provide the employer with at least 14 days' notice before the intended termination date, or compensate the employer with an amount equal to their full wage for the notice period or the remaining portion of it. Failure to comply with the notice requirement will result in the employee being ineligible for a work permit in the country for one year from the date of departure.
Zawya
15 minutes ago
- Zawya
Arab Bank named "Middle East Winner" at The Banker's Technology Awards 2025
The Banker magazine, owned by the Financial Times and based in London, named Arab Bank the 'Middle East winner' at The Banker's Technology Awards 2025, a recognition that celebrates excellence in financial innovation. The awards recognise the most innovative banks across the world for their digital banking initiatives that demonstrate creativity, measurable impact, and set new benchmarks for the fintech industry. Arab Bank was selected for this award following a comprehensive evaluation process by both internal and external judging panels. The selection was based on several key criteria, including the bank's local and regional impact, measurable performance results, and the bank's innovative approach to developing products and delivering tailored digital solutions that address evolving customers needs. This recognition comes as a result of Arab Bank's continuous efforts to offer the latest and most innovative digital banking services and solutions that caters to customer needs across the different sectors and markets. It also highlights the bank's vision for digital transformation and its continuous commitment to staying at the forefront of developments in the digital banking industry, contributing to the advancement of banking products and services. It's worth noting that The Banker Magazine, owned by the Financial Times and based in London, named Arab Bank as 'Bank of the Year in the Middle East for 2024'. Arab Bank also received the 'Best Bank in the Middle East 2025' award by New York-based international publication 'Global Finance', in addition to 24 local and regional awards in recognition of its corporate and consumer digital banking services in Jordan and across Middle East markets.
