Latest news with #BaderAl-Kharafi
Kuwait Times
15-05-2025
- Business
- Kuwait Times
Bader Al-Kharafi meets Hong Kong Chief, backs Amir's digital hub vision
KUWAIT: Zain Vice Chairman and Group CEO Bader Al-Kharafi meets Hong Kong SAR Chief Executive John Lee Ka-chiu. KUWAIT: Bader Nasser Al-Kharafi, Zain Vice Chairman and Group CEO, welcomed John Lee Ka-chiu, Chief Executive of the Hong Kong Special Administrative Region of the People's Republic of China, to Zain's headquarters as part of his official visit to Kuwait. Lee was accompanied by a high-level delegation from Hong Kong and China during his visit to Zain, which came as part of his wider visit to Kuwait from May 13-14. His visit included meetings with HH the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, HH the Crown Prince Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah, Acting Prime Minister Sheikh Fahad Al-Yousef Al-Sabah and other senior government officials. Bader Al-Kharafi stated: 'We are committed to implementing the directives of His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah to advance Kuwait's transformation into a regional hub for the digital economy and create an attractive environment for investment led by the private sector. This visit aligns with that wise vision, as Kuwait and Hong Kong enjoy longstanding friendly relations.' Al-Kharafi welcomed the Chief Executive and his accompanying delegation. 'The two regions collaborate across various investment, trade, and economic fields at both governmental and private sector levels. This visit presents an opportunity to expand those horizons.' He added: 'Our discussions with Chief Executive John Lee and his delegation explored ways to expand digital transformation initiatives, enhance telecom infrastructure, drive business growth, and explore opportunities for collaboration in 5G networks, the Internet of Things and potential strategic partnerships.' (See Page 3)
National News
09-04-2025
- Business
- National News
President Aoun stresses strengthening Lebanese-Kuwaiti ties, especially in economy and investment
NNA - President of the Republic, General Joseph Aoun, on Wednesday affirmed the deep-rooted nature of Lebanese-Kuwaiti relations during his meeting with Bader Al-Kharafi, Chairman of the Al-Kharafi Group. Aoun underscored the importance of enhancing bilateral ties across all sectors, particularly in the economic and investment fields. ==========R.H.
Daily Tribune
04-03-2025
- Business
- Daily Tribune
Zain Group 2024 Net Income grows 15%
Zain Group, a leading provider of innovative ICT technologies and digital lifestyle communications, announces its consolidated financial results for the full-year 2024 (FY-24), and fourth-quarter (Q4-24) ended 31 December 2024. For FY-24, Zain Group generated consolidated revenue of KD 2 billion (USD 6.4 bn), up 3% YoY. Consolidated EBITDA for the period reached KD 689 million (USD 2.25 bn), with normalized EBITDA growth of 2% (excluding number range claim in 2023), reflecting an EBITDA margin of 35%. Consolidated net income reached KD 208 million (USD 677 m), representing normalized net income growth of 15%, when adjusted for number range claim and Tower transaction gain in 2023 and gain on business combination from acquisition of IHS (Kuwait TowerCo) in 2024. Earnings per share amounted to 48 fils (USD 0.16). Dividend recommendation. Zain Group recommended a cash dividend of 25 fils per share for the second half of 2024. This dividend follows the semi-annual dividend of 10 fils distributed in Q4-24, totaling 35 fils per share for the year and reflecting a 73% payout ratio, one of the highest among listed entities in the region and in line with the Board's previously committed minimum cash dividend policy of 35 fils in total, for three years that commenced in 2023 and ends in 2025. Furthermore, the Board made another recommendation to renew the minimum annual cash dividend policy of 35 fils in total, for the forthcoming three years commencing in 2026, subject to Annual General Assembly and statutory approvals. For Q4-24, Zain Group generated consolidated revenue of KD 526 m (USD 1.7 bn), up 7% YoY. EBITDA for the quarter reached KD 184 million (USD 599 m), reflecting an EBITDA margin of 35%. Normalized net income soared 120% to reach KD 72 m (USD 235 m), representing earnings per share of 17 fils (USD 0.05). The operator generated revenue of USD 205 m in Bahrain, up 7% YoY. EBITDA increased 5% to reach USD 63 million, reflecting an EBITDA margin of 31%. Net income grew 2% to reach USD 15.7 m, with data revenue growing 6% to represent 46% of total revenue. Commenting on the 2024 full year results, the Chairman of the Board of Directors of Zain Group, Mr. Osamah Al Furaih said, 'The Board will continue to invest in network expansion, technologies, strategic business opportunities, and talent to ensure the company reaps the rewards of the ever-growing mobile and ICT sector.' Zain Vice-Chairman and Group CEO, Bader Al-Kharafi commented, 'These robust results are due to the successful implementation of our 4SIGHT strategy that has positioned Zain among the top 15 global telecom entities in creating shareholder value over the last 5 years.'
Ammon
29-01-2025
- Business
- Ammon
Zain Group's MSCI rating for ESG upgraded to ‘BBB'
Ammon News - •Vice-Chairman & Group CEO, Bader Al-Kharafi, 'This upgrade reaffirms Zain's commitment to sustainability, corporate governance and ethical leadership, that is value creative for all stakeholders.' •Enhanced governance frameworks; evolving sustainability programs, implementation of stronger environmental policies and reducing carbon emissions; advancements in transparency and reporting; improving data protection and privacy policies, all contributed to upgrade from BB to BBB •In the environmental pillar Zain scored 10/10 – a best-in-class recognition Zain Group, a leading provider of innovative technologies and digital lifestyle and ICT communications operating in eight markets across the Middle East and Africa, announces a significant improvement in its Morgan Stanley Capital International (MSCI) rating in ESG (Environmental, Social, and Governance), which was upgraded from 'BB' to 'BBB' as of December 2024. The renowned MSCI ESG Ratings methodology evaluates companies on their management of material ESG risks and opportunities including climate change, human capital, and corporate governance, with a focus on policies, performance metrics, and controversies. Ratings are industry-relative and range from 'AAA' to 'CCC,' with scores determined by a company's exposure to ESG risks and the effectiveness of its management strategies. MSCI's upgrade for Zain from BB to BBB reflected the company's ethical leadership that oversaw the implementation of enhanced governance frameworks; evolving sustainability programs; stronger environmental policies and reducing carbon emissions; advancements in transparency and reporting; improving data protection and privacy policies. Notably, in the environmental pillar Zain scored 10/10 – a best-in-class recognition. Zain Vice-Chairman and Group CEO, Bader Al-Kharafi commented, 'This ESG upgrade reaffirms Zain's commitment to sustainability, corporate governance, and ethical leadership, that is value creative for all stakeholders. It also marks an important milestone for the company as we continue to align with global industry standards and strive for further improvements in our ESG performance in line with our recently announced '4WARD'-Progress with Purpose five-year sustainable corporate strategy.' 'Zain operates within a complex geopolitical context and we will continue to invest in ESG initiatives and focus on mitigating risks through the integration of advanced technologies. We are relentless in our ongoing efforts to engage and collaborate with regulators, shareholders, and the wider community, to drive sound sustainable and corporate governance practices.' 'As a leading entity listed on the Boursa Kuwait Premier Market, sound ESG practices are becoming an increasingly important differentiator for organizations with respect to giving all stakeholders confidence that the company is being run in a sustainable, compliant and transparent manner. This MSCI upgrade to BBB reaffirms Zain's Investor Relations and Corporate Governance Framework as it helps Zain mitigate risks and facilitates an effective Board oversight over the company's executive management by promoting strong internal controls to improve integrity of financials and establishing a culture of compliance.' Al-Kharafi concluded, 'This framework is a cornerstone of the company's regional appeal, and has won the confidence and admiration from shareholders, the banking community, industry analysts, regulatory authorities and other globally recognized indices, attracting global investors.' Zain is one of the most active organizations in the region with respect to delivering meaningful connectivity that leads to equitable systemic change through its ESG initiatives, with the company playing a crucial role in empowering the markets in which it operates to reap the benefits of digital transformation for the benefit of the communities it serves and beyond.
