Key Takeaways:
- Significant Investment: Jazz invested Rs53.9 billion in 2024, a 46.2% YoY increase, to accelerate Pakistan’s digital transformation.
- Digital Revenue Surge: The company recorded a 16.6% YoY revenue growth in 4Q24, driven by a 53.1% increase in digital revenues.
- Expanding Digital Ecosystem: JazzCash, Tamasha, SIMOSA, FikrFree, and Garaj are key components of Jazz’s growing digital ecosystem, enhancing financial inclusion and digital services.
Jazz has significantly bolstered its commitment to Pakistan’s digital and financial future with a substantial investment of Rs53.9 billion in 2024, marking a 46.2% year-on-year (YoY) increase. This investment underscores Jazz’s dedication to driving digital transformation across the nation.
In the fourth quarter of 2024, Jazz demonstrated strong financial performance, recording a 16.6% YoY revenue growth. This growth was primarily fueled by a remarkable 53.1% surge in digital revenues, reflecting the success of its fintech, entertainment, and enterprise solutions.
Jazz’s DO1440 strategy continues to gain momentum, with 4G users increasing by 15.3% YoY to 50.6 million. 4G penetration has climbed to 70.7%, and multiplying customers have increased by 24.6% YoY, reinforcing Jazz’s expanding digital ecosystem.
JazzCash remains a cornerstone of Pakistan’s financial inclusion efforts, now serving 19.7 million active users. The platform facilitates over 143,000 digital loans daily and processes Rs2.8 trillion in transactions, a 63.3% YoY surge. With a network of over 350,000 merchants and 122,000 agents, JazzCash is driving the adoption of cashless transactions across Pakistan.
“Jazz is shaping Pakistan’s digital future as a Service Co, moving beyond connectivity to drive financial inclusion, cloud solutions, and AI-powered services,” said Aamir Ibrahim, CEO, Jazz. “With JazzCash, Tamasha, Garaj, SIMOSA, and FikrFree, we are building a Connected, Cashless, and Customer-Centric ecosystem—humbly empowering over 100 million people every month with seamless digital solutions.”
Jazz’s digital ecosystem is delivering transformative impact across various sectors. Tamasha, Pakistan’s leading streaming platform, saw 17.1 million monthly active users (MAUs), streaming over 250 days of cricket, including the ICC World Cup and PSL, and expanding into EPL and the Paris Olympics.
SIMOSA, Jazz’s AI-powered lifestyle platform, experienced a 30% YoY growth, reaching 19.0 million MAUs and establishing itself as a market leader in digital personal care. FikrFree, the first AI-driven insurance and healthcare marketplace, gained 1.4 million users and sold 790,000 policies since its launch. Garaj, Jazz’s cloud platform, saw a 74% business growth in 2024, now serving over 500 enterprises with secure, localized cloud solutions.
