Latest news with #ZainGroup
The National
2 days ago
- Business
- The National
Syria's Al Shara in Kuwait amid drive for Gulf investment
Syria 's President Ahmad Al Shara visited Kuwait on Sunday and discussed ways to stabilise his country with Emir Sheikh Meshal, official media said, amid a push by Damascus to secure Gulf investments. The official Kuwaiti news agency said the two men, who met at the emir's palace in Kuwait, discussed expanding ties and "strengthening efforts by the international community to guarantee the security and stability of Syria". It was the fourth visit by Mr Al Shara to a Gulf country since his rebel allies appointed him as leader of Syria in late January. Mr Al Shara's Hayat Tahrir Al Sham (HTS), an organisation that traces its origins to Al Qaeda, took over the state after leading an offensive that toppled former president Bashar Al Assad. On Saturday, Mr Al Shara told a cabinet meeting that the authorities aim to lift restrictions imposed by the former regime on repatriation of profits, so as to attract foreign investment. He mentioned the potential for neighbouring counties taking on infrastructure projects, as local companies, he said, do not have the capital. Mr Al Shara said that there is "big appetite" to invest in airports, energy, tourism, oil, minerals, free zones, ports, railways real estate and transport sectors. Two weeks ago, Mr Al Shara met a Kuwaiti business delegation headed by Bader Al Kharafi, chief of one of the largest Arab conglomerates, Zain Group. However, no specific investments were announced. Business deals The government has signed three major concessions since the removal of the former regime. Two have been for the Latakia and Tartous ports, which French shipping company CMA CGM, and with DP World of the UAE. The third was with Qatar 's UCC to add electricity generation capacity. Syria needs an estimated $500 billion in new infrastructure after the 2011 to 2014 civil war, although violence and sectarian killings have continued across the country. Turkey's Deniz Bank, which is fully owned by Emirates NBD, expects more financing opportunities to support Syria's reconstruction. Saudi Arabia and Qatar said on the weekend that they will finance government salaries for the next three months. The move was made possible by removal of US sanctions this month. The EU followed suit and decided to remove its own sanctions on Syria's economy. Meanwhile, Dubai airline flydubai resumed flights to Damascus on Sunday after a 12-year hiatus due to the civil war. Riyadh, as well as Turkey, played a main role in the lifting of US sanctions on Syria this month, in a major development that ushered normalisation between Washington and Damascus. President Donald Trump shortly afterwards met Mr Al Shara in Riyadh. American officials have said one of the main reasons for the decision to lift the sanctions was the desire to improve living conditions quickly enough to prevent another civil war.
Zawya
19-05-2025
- Business
- Zawya
Oman: Omantel reports $7bln revenue, expands tech strategy
Muscat – Omantel, Oman's leading telecommunications and digital solutions provider, reported consolidated revenues of RO 3.03 billion in 2024, reinforcing its transformation into a regional technology powerhouse. The company's evolution is anchored in robust financial performance, digital innovation, strategic international partnerships, and strong alignment with Oman Vision 2040. Omantel's net profit attributable to shareholders rose by 4.4% year-on-year to RO 78.1 million, with earnings per share increasing to RO 0.104. Domestically, revenues reached RO 622.6 million, a 2.7% increase, supported by 6% growth in postpaid mobile and 7% in fixed broadband services. The Group maintained a 40.2% mobile market share and a 54.4% fixed broadband share, with mobile subscribers reaching 3.96 million and fixed broadband users surpassing 311,000. Regionally, Zain Group — in which Omantel holds a 21.9% stake — contributed RO 2.47 billion in revenues, with double-digit growth in Iraq (11%) and strong gains in Bahrain, Jordan, Saudi Arabia and Kuwait. In 2024, Omantel achieved RO 25 million in procurement savings through synergies with Zain Group. The two operators also launched Zain Omantel International (ZOI), a major regional wholesale gateway serving eight countries. Omantel's global connectivity footprint expanded with the launch of the SN1 data centre in Salalah, in partnership with Equinix. With 10 submarine cables landing in Salalah, the city has become the second most connected location in the Middle East, after only Fujairah. Omantel now operates a subsea network spanning 120,000 km, with connections to over 120 international cities, supported by two carrier-neutral data centres and six cable landing stations. Following the successful completion of its 'Shift Gear' strategy, Omantel launched its new five-year roadmap — 'Portal to the Future' — focusing on AI, cloud computing, fintech, and smart infrastructure. Group-level ICT revenue rose 55.5%, supported by digital subsidiaries including Oman Data Park and Future Cities (Tadoom). Notable product launches included the OmPay fintech platform, a new API marketplace, and 300+ AI-driven customer engagement campaigns. Strategic cloud collaborations continued with Amazon Web Services, Google, Oracle and Huawei to support national digital infrastructure under the National Cloud initiative. Omantel intensified its sustainability efforts in 2024, completing full GHG baseline assessments for Scope 1, 2, and 3 emissions and rolling out AI-powered energy optimisation across its networks. Over 200 metric tonnes of e-waste were recycled, while solar-powered infrastructure was deployed at key sites. The company invested RO 750,000 in CSR programmes, reaching over 260,000 beneficiaries. Key initiatives included: • Completion of the RO 1 million 'My House, My Shelter' campaign • Launch of 'Maqroo', the world's first Arabic font for dyslexic readers • Omanisation rate of 94.3%, with 26% of staff and 19% of leadership roles held by women Omantel Academy trained youth and graduates in AI, cybersecurity, and cloud through flagship programmes such as AI Empowered Youth and Future Skills Empowered Nation. As the digital enabler of Oman Vision 2040, Omantel continues to lead the country's technological evolution through integrated solutions spanning AI, IoT, fintech, and cloud. Its infrastructure and service model are central to Oman's ambitions to become a knowledge-based, innovation-driven economy. Chairman Mulham bin Basheer Al-Jarf noted that the company's shift to a tech-native enterprise will 'shape a future where every connection enriches lives.' CEO Talal Al Mamari confirmed that Omantel is entering a new growth phase, creating long-term value across markets and communities. With its bold strategy, digital investments, and social impact, Omantel is positioned to remain at the forefront of regional innovation and sustainable development. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Observer
18-05-2025
- Business
- Observer
Omantel reports RO 3 billion revenue, expands tech strategy
Muscat – Omantel, Oman's leading telecommunications and digital solutions provider, reported consolidated revenues of RO 3.03 billion in 2024, reinforcing its transformation into a regional technology powerhouse. The company's evolution is anchored in robust financial performance, digital innovation, strategic international partnerships, and strong alignment with Oman Vision 2040. Omantel's net profit attributable to shareholders rose by 4.4% year-on-year to RO 78.1 million, with earnings per share increasing to RO 0.104. Domestically, revenues reached RO 622.6 million, a 2.7% increase, supported by 6% growth in postpaid mobile and 7% in fixed broadband services. The Group maintained a 40.2% mobile market share and a 54.4% fixed broadband share, with mobile subscribers reaching 3.96 million and fixed broadband users surpassing 311,000. Regionally, Zain Group — in which Omantel holds a 21.9% stake — contributed RO 2.47 billion in revenues, with double-digit growth in Iraq (11%) and strong gains in Bahrain, Jordan, Saudi Arabia and Kuwait. In 2024, Omantel achieved RO 25 million in procurement savings through synergies with Zain Group. The two operators also launched Zain Omantel International (ZOI), a major regional wholesale gateway serving eight countries. Omantel's global connectivity footprint expanded with the launch of the SN1 data centre in Salalah, in partnership with Equinix. With 10 submarine cables landing in Salalah, the city has become the second most connected location in the Middle East, after only Fujairah. Omantel now operates a subsea network spanning 120,000 km, with connections to over 120 international cities, supported by two carrier-neutral data centres and six cable landing stations. Following the successful completion of its 'Shift Gear' strategy, Omantel launched its new five-year roadmap — 'Portal to the Future' — focusing on AI, cloud computing, fintech, and smart infrastructure. Group-level ICT revenue rose 55.5%, supported by digital subsidiaries including Oman Data Park and Future Cities (Tadoom). Notable product launches included the OmPay fintech platform, a new API marketplace, and 300+ AI-driven customer engagement campaigns. Strategic cloud collaborations continued with Amazon Web Services, Google, Oracle and Huawei to support national digital infrastructure under the National Cloud initiative. Omantel intensified its sustainability efforts in 2024, completing full GHG baseline assessments for Scope 1, 2, and 3 emissions and rolling out AI-powered energy optimisation across its networks. Over 200 metric tonnes of e-waste were recycled, while solar-powered infrastructure was deployed at key sites. The company invested RO 750,000 in CSR programmes, reaching over 260,000 beneficiaries. Key initiatives included: • Completion of the RO 1 million 'My House, My Shelter' campaign • Launch of 'Maqroo', the world's first Arabic font for dyslexic readers • Omanisation rate of 94.3%, with 26% of staff and 19% of leadership roles held by women Omantel Academy trained youth and graduates in AI, cybersecurity, and cloud through flagship programmes such as AI Empowered Youth and Future Skills Empowered Nation. As the digital enabler of Oman Vision 2040, Omantel continues to lead the country's technological evolution through integrated solutions spanning AI, IoT, fintech, and cloud. Its infrastructure and service model are central to Oman's ambitions to become a knowledge-based, innovation-driven economy. Chairman Mulham bin Basheer Al-Jarf noted that the company's shift to a tech-native enterprise will 'shape a future where every connection enriches lives.' CEO Talal Al Mamari confirmed that Omantel is entering a new growth phase, creating long-term value across markets and communities. With its bold strategy, digital investments, and social impact, Omantel is positioned to remain at the forefront of regional innovation and sustainable development
Iraq Business
17-05-2025
- Business
- Iraq Business
Revenue and Profit Up at Zain Iraq
By John Lee. Kuwait's Zain Group has reported increased revenue and profit at its Iraqi telecom business: Revenue Growth: In Q1 2025, Iraq's revenue grew by 13% to reach USD 286 million. EBITDA Growth: EBITDA increased by 13% to USD 105 million, reflecting an EBITDA margin of 37%. Net Income: Net income soared by 73% to reach USD 26 million. Customer Base: The customer base increased by 11% to 20.7 million, maintaining a market-leading position. Growth Drivers: Growth was driven by investment in tower expansion and the monetization of new B2C and B2B products and services. Market Access: Improved market access in Iraq contributed to the overall increase in the Group's customer base. Digital Operator: The customer base and revenue continue to grow for Zain's digital operator, Oodi, in Iraq. (Source: Zain Group)
Kuwait Times
13-05-2025
- Business
- Kuwait Times
Zain Group Q1 net profit soars 66% YoY to $157m; revenue grows 15% to $1.74bn
Al-Kharafi: A remarkable Q1 2025 with solid operational performance and revenue growth KUWAIT: Zain Group, a leading provider of innovative ICT and digital lifestyle communications operating in eight markets across the Middle East and Africa, announces its consolidated financial results for the first quarter ended March 31, 2025, with the customer base increasing 20 percent to reach 50.7 million customers. Zain Group recorded impressive revenue growth of 15 percent to reach KD 536 million ($1.74 billion) for Q1 2025. EBITDA for the quarter jumped 15 percent to reach KD 171 million ($554 million), reflecting an EBITDA margin of 32 percent. Net income for the quarter soared 66 percent to reach KD 48.5 million ($157 million), reflecting an Earnings Per Share of 11 fils ($0.04). Key operational notes for Q1 2025 Group revenue grew 15 percent YoY, driven by strong performance across main operations including Sudan (+112 percent), Iraq (+13 percent), Bahrain(+8 percent), Jordan (+7 percent), and KSA (+6 percent) customer base soared20 percent with continual restoration and expansion of network in Sudan, as well as strong growth in Iraq, KSA and other markets revenue grew 6 percent to reach $633million, representing 36 percent of the Group's overall revenue the quarter, Zain Group invested $242 million in CAPEX, reflecting 14 percent of revenues KSA, Bahrain, and Jordan continue to grow their 5G customer base services (Bede in Kuwait and Bahrain; Tamam in KSA and Zain Cash) witnessed revenue growth of30 percent, transaction value increased 25 percent to reach $1.7 billion enterprise revenue witnessed16 percent growth as ZainTECH and B2B teams in key markets secure multiple deals with businesses and governments, ZainTECH revenue soared 184 percent YoY digital services witnessed revenue growth of 2 percent, driven by increase in Kuwait and Sudan Omantel International (ZOI) wholesale carrier achieved exceptional revenue growth of 371 percent YoY base and revenue continue to grow for Zain's digital operator, Yaqoot in KSA and Oodiin Iraq of Global M2M offering to accelerate proliferation of connected devices across region brand valuation up 14.5 percent YoY, to reach a milestone of $3.5 billion, the highest in Kuwait Osamah Al-Furaih, Chairman of the Board said, 'With the introduction of the '4WARD-Progress with Purpose' five-year corporate strategy, the Board will work closely with Executive Management in driving continuity, acceleration, collaboration and digital innovation across all our operations to take Zain to new heights and increase shareholder value. We look forward to expanding our ESG initiatives in providing meaningful connectivity and continuing our positive relationships with regulatory bodies and all stakeholders as we implement '4WARD' to the benefit of customers, communities, and government bodies we proudly serve.' Bader Al-Kharafi, Zain Vice-Chairman and Group CEO commented, 'It was a remarkable first quarter with solid operational performance and revenue growth across key markets, and this bodes well for rest of year as we expect this trajectory to continue, driving shareholder value. Our focus on investing in network upgrades, new technologies and monetizing our 5G and ICT services for both our individual and enterprise customers, coupled with accelerating the growth of several new business verticals, have positively impacted our financial metrics on all levels. So are our operational synergies, cost optimization and digital transformation initiatives in offering customers better services.' 'Our key operations in Kuwait, KSA, Jordan, and Bahrain performed well in line with expectations, despite strong competition and other local challenges. Notably, in Sudan the network restoration efforts have reconnected over 5.8 million customers leading to exceptional operational performance, despite the ongoing geo-political issues. The World Bank is optimistic about Sudan's economic outlook, provided the current conflict eases, which supports our confidence for continued improvement in the coming quarters.' 'The success of our recent AGM, which achieved a distinct quorum of 79.2 percent, witnessed the approval of the Board's recommendation to renew the minimum annual cash dividend policy of 35fils per share for another three years, extending it through to 2028. This marks a clear reaffirmation of Zain's long-term commitment to sustainable and consistent shareholder returns, as well as confidence in business's prospects.' 'Our performance in this quarter was significantly boosted by the expanding impact of our growth verticals, ZOI wholesale, ZainTECH, Dizlee API entertainment platform, and fintech services across our footprint which when combined delivered $191 million in revenue in the first quarter alone, representing a noteworthy 185 percent YoY growth from $67 million in Q1'2024, and now contributing 11 percent to Group total revenue.' 'As the leading 5G provider across the region in regard to footprint, our 5G customer base, both individuals and enterprises in Kuwait, KSA, Bahrain, and Jordan are truly benefiting from the appealing digital technologies and services we offer in enhancing their data experience, and this is driving both revenue and customer growth.' 'Our fintech's growth in revenue and customer base, witnessed increase in transaction volumes across Kuwait, KSA, Jordan, and Bahrain. Recently, in Sudan we launched the Bede brand, a key milestone in our regional rollout. In Kuwait, we look forward to receiving Central Bank approvals to expand our fintech offerings to cater for consumers and businesses. We will continue to foster fintech, expecting this growth trajectory to continue.' 'Zain Omantel International (ZOI) exceptional performance was a result of major capacity deals in Data and Connectivity, a significant growth in voice traffic volumes, as well as expansion in partnerships and international agreements.' 'Likewise, ZainTECH's revenue growth of 184 percent YoY also witnessed several important milestones this quarter. It launched a new Cybersecurity Governance, Risk, and Compliance (GRC) service, helping organizations stay compliant and secure. In Saudi Arabia, ZainTECH was granted a commercial license, allowing it to formalize its regional HQ there, and expand its presence and operations. The entity also joined the NVIDIA Partner Network as a Reseller, one of the few in the region, to bring advanced AI solutions to businesses across its markets.' 'The introduction of our Global M2M offering is a strategic move, capitalizing on our strategic footprint and superior connectivity to position Zain as the regional partner of choice. This service addresses the significant challenges faced by Original Equipment Manufacturers (OEMs) operating in or looking to operate in the region. By providing a unified solution that ensures compliance and simplifies connectivity across our extensive network, Zain is empowering the connection of global manufacturers to the Middle East. This will boost the pace of digital transformation of enterprises and governments, driving socio-economic growth across the region.' Al-Kharafi concluded, 'We are confident that the recently launched '4WARD-Progress with Purpose' will unleash Zain's full potential in transforming from a telco to a purpose driven TechCo conglomerate providing 'Better Lives and Lasting Connections'. '4WARD' will provide the necessary impetus for Zain's continued relevance and impact on shaping societies and providing meaningful connectivity and drive the Zain brand value to new heights.' Financial KPIs of key markets for Q1 ended March 31, 2025 KUWAIT: Maintaining its market leadership, the flagship operation's customer base stood at 2.6 million. Q1 2025 revenue was slightly higher at KD 94 million ($303 million), EBITDA increased 2 percent to reach KD 32 million ($103 million), representing an EBITDA margin of 34 percent. Net income increased 2 percent to reach KD 18 million ($58 million), for Q1 2025, with data revenue accounting for 36 percent of total revenue. Zain Kuwait is currently preparing to deploy 5.5G services on its network as well as focusing on increasing its postpaid mobile customer base to enhance ARPU through appealing device and data offerings. SAUDI ARABIA: For Q1 2025, revenue grew by 6 percent to $718 million, EBITDA for the period increased 5 percent to reach $217 million, reflecting an EBITDA margin of 30 percent. Net income for the quarter soared 40 percent to reach $25 million. The operator's data revenue grew by 2 percent, representing 39 percent of total revenue, and active customers increased 3 percent to stand at 9 million. The operator witnessed continued growth in 5G and B2B revenue, with Yaqoot - Zain KSA's digital arm witnessing 1 percent growth in revenue, and Tamam, the consumer microfinance arm, witnessing revenue growth of 31 percent, all of which contributed towards the increase in top-line. IARQ: For Q1 2025, revenue grew 13 percent to reach $286 million and EBITDA increased 13 percent to reach $105 million, reflecting an EBITDA margin of 37 percent. Net income for the quarter soared 73 percent to reach $26 million. Customer base increased 11 percent to 20.7 million, reflecting a market leading position, driven by the investment in Tower expansion and monetizing new B2C and B2B products and services. SUDAN: For Q1 2025, Zain Sudan showed strong signs of recovery and growth despite the ongoing challenges in the country. Revenue for the quarter soared 112 percent to reach $107 million, with EBITDA reaching $61 million, up from $12 million last year, an increase of 423 percent, reflecting an EBITDA margin of 57 percent. Net income soared 138 percent to reach $53 million. The operation's exceptional growth across all KPIs was driven by the successful restoration of 1,564 sites, including 219 sites in newly liberated areas of Khartoum. This network recovery saw the customer base more than double, jumping 110 percent YoY from 5.2 million to 11 million in Q1 2025. JORDAN: For Q1 2025, Zain Jordan revenue grew 7 percent to reach $141 million, EBITDA slightly increased to reach $55 million, reflecting an EBITDA margin of 39 percent, with net income increased 8 percent to reach $18 million. Data revenue grew 10 percent on the back of its continually expanding 5G network, representing 53 percent of total revenue. Customer base increased by 5 percent to stand at 4.1 million, maintaining its leading position. BAHRAIN: For Q1 2025, Zain Bahrain revenue grew 8 percent to reach $56 million, an increase of 8 percent, EBITDA reached $14 million, reflecting an EBITDA margin of 26 percent. Net income increased by 10 percent to reach $3.1 million, with data revenue growing 4 percent to represent 44 percent of total revenue. Zain Chairman of the Board Osamah Al-Furaih Zain Vice-Chairman and Group CEO Bader Al-Kharaf Zain headquarters' building.
