Telecom Egypt reported a 1.83% increase in Q1-2024 net profit, reaching EGP 3.88 billion. Consolidated operating revenues grew to EGP 17.48 billion. The standalone net profit rose to EGP 4.38 billion, with operating revenue at EGP 12.59 billion. The company plans to enhance cost efficiency and monetize assets generating foreign currency returns.
IBM has completed an energy-efficient data center for Telecom Egypt, the largest fixed-line telecom provider in the Middle East. The project, part of IBM’s “Big Green” initiative, aims to enhance Telecom Egypt’s capacity while improving energy efficiency and server performance, supporting Egypt’s growing telecommunications demands.
HSBC has launched Omni Collect, a new e-commerce digital payment platform in the UAE, in partnership with Saudi-based FinTech Geidea. Omni Collect allows HSBC business clients to access card receivables and gain insights into collections data, simplifying payment processes across multiple channels and enhancing business decision-making.
At GITEX Africa in Marrakech, Hamad Obaid Al Mansoori of Digital Dubai emphasized the shared ambition of Morocco and the UAE to promote the knowledge economy. The event, organized by Morocco’s Ministry of Digital Transition and KAOUN International, features 15,000 exhibitors and 800 startups, aiming to boost Africa’s innovation and entrepreneurial economy.
Sparkle and Tunisie Telecom have partnered to provide International IP Transit services from Sicily to Milan. This agreement enhances Tunisia’s connectivity to Europe with a high-performance, low-latency route, meeting the growing demand for advanced internet services and digital content, and strengthening the historical partnership between the two companies.
Saudi Arabia’s SAMI Advanced Electronics Co. and the National Unified Procurement Co. (NUPCO) have partnered to enhance the Kingdom’s healthcare system using digital technologies. The agreement will improve medication tracking, IT infrastructure, and local manufacturing of medical devices, aligning with Saudi Vision 2030’s goals for advanced healthcare services.
Saudi Arabia will invest SR4.2 billion ($1.2 billion) to enhance its digital content industry through the newly established Digital Content Council. The council will fund 36 initiatives to develop skills and create jobs in video gaming, video production, and digital advertising, promoting the Kingdom’s growing digital content sector.
Oman’s e-commerce market reached $2.2 billion in 2023, led by electronics and media. The sector’s growth highlights its role in the global economy. The World Trade Organization expects the market to grow by 39% globally and reach $3.327 billion in Oman by 2027, driven by increased internet and smartphone adoption.
Qatar topped Ookla’s Speedtest Global Index for mobile broadband speeds in February, March, and April, with Samsung S24 models reaching 971 Mbps. Al Rayyan was the fastest mobile city globally. Ooredoo’s investments in technology and infrastructure have solidified Qatar’s leadership in mobile internet speeds, supporting Qatar’s National Vision 2030.
MERP Systems has partnered with Omantel to drive digital transformation in Oman using Microsoft AI tools. The collaboration aims to enhance operational efficiency, improve customer service, and develop new digital products. The agreement also includes modernizing HR systems, creating an AI-enhanced digital store, and training Omani professionals in advanced AI skills.
