Muscat – Omantel, Oman’s leading telecommunications and digital solutions provider, announced consolidated revenues of RO 3.03 billion for 2024, underscoring its evolution into a regional technology powerhouse aligned with Oman Vision 2040. The company’s net profit attributable to shareholders grew 4.4% year-on-year to RO 78.1 million, with earnings per share rising to RO 0.104.
Domestically, Omantel recorded RO 622.6 million in revenues, supported by 6% growth in postpaid mobile subscriptions and 7% growth in fixed broadband services. The company maintained a 40.2% mobile market share and a 54.4% share in fixed broadband, with mobile subscribers totaling 3.96 million and fixed broadband users exceeding 311,000.
Regionally, Omantel’s 21.9% stake in Zain Group contributed RO 2.47 billion in revenues, driven by double-digit growth in Iraq (11%) and strong performance in Bahrain, Jordan, Saudi Arabia, and Kuwait. Procurement synergies with Zain generated RO 25 million in savings in 2024. Together, they launched Zain Omantel International (ZOI), a major wholesale gateway spanning eight countries.
Omantel expanded its global connectivity footprint with the launch of the SN1 data centre in Salalah, in partnership with Equinix. Salalah, now landing 10 submarine cables, ranks as the Middle East’s second most connected city after Fujairah. The company operates a subsea network exceeding 120,000 km, linking over 120 international cities via two carrier-neutral data centres and six cable landing stations.
Following its “Shift Gear” strategy completion, Omantel unveiled a new five-year roadmap — “Portal to the Future” — focusing on AI, cloud computing, fintech, and smart infrastructure. Group-level ICT revenue surged 55.5%, propelled by digital subsidiaries including Oman Data Park and Future Cities (Tadoom). Notable product launches included the OmPay fintech platform, a new API marketplace, and over 300 AI-powered customer engagement campaigns. Strategic partnerships with Amazon Web Services, Google, Oracle, and Huawei support Oman’s National Cloud initiative.
Sustainability efforts intensified with full greenhouse gas baseline assessments across Scope 1, 2, and 3 emissions, alongside AI-driven energy optimisation for networks. Over 200 metric tonnes of electronic waste were recycled, and solar-powered infrastructure was deployed at key sites. CSR investments of RO 750,000 benefited over 260,000 individuals through programs such as the RO 1 million “My House, My Shelter” campaign and the launch of “Maqroo,” the world’s first Arabic font designed for dyslexic readers. Omanisation stood at 94.3%, with women holding 26% of staff and 19% of leadership positions.
Omantel Academy empowered youth and graduates through AI, cybersecurity, and cloud training programs like AI Empowered Youth and Future Skills Empowered Nation.
As the digital enabler of Oman Vision 2040, Omantel leads the country’s technological advancement through integrated AI, IoT, fintech, and cloud solutions. Chairman Mulham bin Basheer Al-Jarf remarked that Omantel’s transformation into a tech-native enterprise will “shape a future where every connection enriches lives.” CEO Talal Al Mamari emphasized the company’s new growth phase aimed at delivering long-term value across markets and communities.
With bold strategies, digital innovation, and impactful social initiatives, Omantel is positioned at the forefront of regional innovation and sustainable development.
