Basata has increased its stake in MadfoatCom to 25%, reinforcing its role in advancing digital payments and financial inclusion in Jordan. This collaboration, alongside Jordan Kuwait Bank and the Social Security Investment Fund, will drive innovative payment solutions for businesses and consumers, focusing on SMEs.
Bangladesh’s mobile subscriber count dropped by 1.2 million in December 2024, continuing a six-month decline. The downturn was attributed to a rise in SIM taxation and economic challenges, with mobile operators losing millions of customers. A gender gap in mobile ownership also persists, with men far outpacing women in access.
Lola, a Bahrain-based startup offering customizable cakes through its mobile app, has raised $1.3 million in pre-seed funding. The round was led by Vision Ventures and Plus VC. Lola plans to enhance its platform, expand its team, and accelerate growth across Saudi Arabia and the UAE.
Northstar Telecom has partnered with SonicWall to offer Firewall as a Service in Bahrain. This fully-managed service provides businesses with advanced threat protection, 24/7 security monitoring, and expert oversight, all within a simple monthly plan. The service is available exclusively with Northstar Telecom’s Business Fibre Broadband.
Kazakhstan and Nigeria are enhancing cooperation in digital technology and business development through discussions between officials and entrepreneurs. Key areas of collaboration include e-government, fintech, and space technology. Both nations aim to expand trade, launch joint projects, and localize production across several sectors like energy, mining, and agriculture.
Zain Group has reported record revenue of KD2 billion ($6.4 billion) for FY2024, marking a 3% YoY growth. The company’s net income increased by 15%, and its EBITDA reached KD689 million ($2.25 billion). Zain also recommended a cash dividend of 35 fils per share for the year.
Pakistan’s telecom sector is hindered by political instability, low returns, and a dollar-based spectrum auction fee. Slow internet speeds caused by firewall installations have impacted IT businesses, leading many to relocate. Additionally, the mismatch between revenue in rupees and dollar-denominated fees worsens the financial challenges faced by the industry.
Telecommunications Minister Charles Hajj and U.S. Ambassador Lisa Johnson discussed Lebanon’s reconstruction and bilateral relations during a recent meeting. Hajj stressed the importance of stability and urged the U.S. to pressure Israel to withdraw from the five points it still occupies, citing the need for progress.
STC Group and Ooredoo Oman have signed a Head of Terms agreement to launch the SONIC Project, aimed at establishing…
Emirates Telecommunications Group reported a 10% increase in revenue for FY 2024, surpassing analyst expectations. The company’s net income rose by 4.3%, while its profit margin decreased to 18%. Despite higher expenses, the company forecasts 8.1% revenue growth over the next three years.
