AB Majlis podcast: e& bets on fintech and super apps in digital push
UAE technology giant e& is accelerating its transformation beyond telecommunications, targeting 40 per cent of revenue from digital services as it expands into fintech, entertainment, and super apps.
'UAE is a mixed population. We have the white-collar, blue-collar, we have the youth,' Khalifa Al Shamsi, CEO of e& life and e& international, said in an interview on the AB Majlis podcast at the World Government Summit last week. 'There are a lot of segments that are net-serve or underserve.'
Three years after rebranding from Etisalat, e& has expanded to 19 countries from 16, while restructuring into four units: e& UAE, e& international, e& enterprise, and e& life – the latter focusing on consumer digital offerings.
The company's fintech platform, e& money, now offers IBAN accounts and prepaid Mastercards to anyone with an Emirates ID.
'We're going to be enriching that with lending solutions, microfinance. You don't need to have a big salary to get a loan,' Al Shamsi explained. 'You're not going to get a hundred thousand loan, but you might get a five thousand loan.'
Central to e&'s digital transformation is its recent Careem Technologies acquisition. The platform has evolved beyond ride-hailing to include food delivery, groceries, and home services.
'We never sit relaxed till we are number one,' Al Shamsi said, noting the service is already number two in Dubai for food and grocery delivery, with expansion underway in Abu Dhabi and Riyadh.
The company's entertainment division has achieved significant penetration, with its IPTV service reaching 80 per cent of UAE homes. Last year, e& launched STARZPLAY, an ad-funded streaming service now operating across 22 countries.
AI features prominently in future plans, with e& developing what Al Shamsi calls 'agentic AI' – personalised concierge services that could, for example, recommend comfort food when a user's favorite sports team is losing.
Looking ahead, Al Shamsi indicated potential moves into insurance and health tech, leveraging the company's existing assets from point-of-sale networks to regulatory relationships.
'We have a lot of untapped opportunities,' he said. 'How about we leverage the same assets to sell financial services, cybersecurity, internet of things?'
The digital push comes as UAE companies increasingly look to diversify beyond their traditional business lines. For e&, success in this transformation could provide a template for other regional telecom operators seeking new growth avenues.
Tune in to AB Majlis' WGS Special series with e&
To listen to the full episodes with Dowidar and Mahmood and gain a comprehensive understanding of doing business in the Gulf region, visit our RSS feed or check out AB Majlis on Spotify, Apple Podcasts, and other platforms.
Episodes are also available on:
Tune in every Monday for weekly episodes that will help you stay ahead of the curve and enrich your understanding of the Gulf region.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Business
an hour ago
- Arabian Business
UAE announces 10,000 air-conditioned rest shelters for delivery drivers during summer
The UAE's Ministry of Human Resources and Emiratisation (MoHRE) has announced that more than 10,000 air-conditioned rest stations equipped with comfort amenities will be provided for use by delivery service workers across the country throughout the Midday Break period. The Midday Break is implemented in collaboration with relevant government entities and private sector partners from June 15 to September 15. The Ministry applauded all entities participating in this humanitarian initiative, which include Dubai's Roads and Transport Authority (RTA), the Integrated Transport Centre at the Department of Municipalities and Transport in Abu Dhabi, and the Departments of Economic Development across all Emirates and Emirates General Petroleum Corporation (Emarat). UAE Midday Break Partners also include delivery platforms such as Talabat, Deliveroo, Noon, and Careem, among others, as well as numerous restaurants, shopping centres, retail stores, and cloud kitchens, who contributed to the effort. MoHRE stressed the importance of this initiative, particularly given that delivery services are a vital logistical sector with a unique operational model, where workers are not stationed in fixed locations during the Midday Break, and where certain items require speed and precision in delivery. Delivery service workers in the UAE can access the nearest rest stations through interactive maps available on the apps. This year's Midday Break initiative is a continuation of the efforts undertaken last year, when 6,000 fully equipped and air-conditioned rest stations were provided for delivery workers. The significant expansion this year reaffirms the effectiveness of these efforts in protecting this category of workers from the risks of heat exhaustion during summer, especially during the UAE Midday Break hours from 12.30pm to 3pm. The Midday Break initiative requires employers to provide appropriate shaded areas for workers to rest, along with adequate cooling devices, sufficient cold drinking water depending on the number of workers, hydration supplies approved by local authorities, and first aid equipment at job sites. The Ministry of Human Resources and Emiratisation called on members of the community to report any violations of the Midday Break regulations in the UAE to its call centre at 600 590 000, or through its smart application or official website.
Gulf Business
2 hours ago
- Gulf Business
Emirates launches free coach service for Clark flights
Image credit: Emirates/Website Emirates has introduced a new complimentary coach service for Economy Class passengers flying to and from Clark International Airport (CRK), further expanding its services for Filipino travelers. Starting June 10, the new service will link Trinoma in Quezon City directly to Clark International Airport in Pampanga, offering a smoother and more accessible travel experience. Read- The dedicated coach service will operate for Emirates passengers holding valid Economy Class tickets issued by the airline (ticket numbers beginning with 176). Pick-up and drop-off points are located at the New Genesis P2P Bus Terminal in Trinoma (code: TRP) and at CRK. Reservations must be made at least 48 hours in advance, and only confirmed bookings will be honored, To secure a seat on the coach, passengers booking through the Emirates website must select Trinoma (TRP) as their departure or arrival point. Those purchasing tickets via Emirates offices or travel agents should ensure that the bus service is added to the ticket before it is issued. The service is not available to passengers without a valid Emirates-issued ticket or a prior booking. This initiative aims to provide a more comfortable and seamless journey for passengers, particularly those residing in Metro Manila and nearby regions. It reflects Emirates' ongoing efforts to enhance accessibility and convenience for Filipino travelers. New Southeast Asia routes via Bangkok In parallel with its Philippines service expansion, Inaugural flights were held on June 2 for Da Nang and June 3 for Siem Reap, marked by traditional water cannon salutes and ceremonial welcomes from local officials. Operated by the Boeing 777-300ER, the new flights offer Emirates' signature inflight experience along with efficient connections to Dubai and beyond. 'Launching two new routes via Bangkok marks a significant milestone in strengthening Emirates' presence in Southeast Asia,' said Nabil Sultan, Emirates' Executive Vice President, Passenger Sales and Country Management. 'Travelers can now enjoy seamless connectivity to three dynamic destinations—Dubai, Bangkok, and either Da Nang or Siem Reap—with a single ticket.'
Tourism Breaking News
5 hours ago
- Tourism Breaking News
Moscow sees surge in UAE tourists, plans to launch initiatives tailored for Gulf region
Post Views: 35 Moscow has witnessed a sharp increase in visitors from the UAE, rising from 18,000 in 2019 to 62,100 in 2024, according to Evgeny Kozlov, Chairman of the Moscow City Tourism Committee. He emphasised Moscow's growing appeal to Gulf tourists, with expanded halal dining options and Arabic-language services across the city. New tourist information centres—staffed with English and Arabic speakers—have opened at key locations, including Dream Island amusement park and river stations. A recently launched Muslim-Friendly Guide offers curated recommendations for hotels, restaurants, and activities. E-visas have also simplified entry procedures, boosting accessibility for international travellers. This summer, Moscow is hosting vibrant cultural festivals and events to entice Middle Eastern travellers to the city for a seamless holiday experience.
