Saudi telecom companies saw a 69% increase in net profits for 2024, reaching SAR 28.39 billion ($7.57 billion), driven by higher revenues, a growing customer base, and operational efficiency. Stc led with a profit surge of 85.7%, while Mobily showed growth, and Zain experienced a decline due to higher costs.
Yango Ventures, part of Yango Group, is supporting early-stage startups with an initial $20 million fund. The venture focuses on sectors like O2O, B2B SaaS, and FinTech, aiming to foster innovation and sustainable growth. The initiative also emphasizes digitalization and economic development in high-growth markets globally.
The Oman Chamber of Commerce and Industry’s Dhofar branch hosted a Ramadan evening to discuss artificial intelligence and cybersecurity’s role in shaping business futures. The event covered AI applications in various sectors and highlighted the importance of cybersecurity in the digital transformation process. The session provided valuable insights into future opportunities.
Nepal Telecom (NTC) is moving forward with plans to install a new Rs 5 billion convergent real-time billing system, aiming to streamline billing for all its services and improve customer care. The system will handle 34 million customers across various networks and services, enhancing efficiency and customer satisfaction.
Omantel has partnered with TeKnowledge to launch an advanced AI and Data Science skilling program for its employees. This initiative aims to enhance digital skills, supporting the company’s strategy for digital transformation and economic diversification. The program will combine onsite and virtual training to ensure a hands-on learning experience.
ZTE is returning to the Nepali market with a new range of affordable smartphones. The company, in partnership with Shanker Group, aims to offer cutting-edge technology and sleek designs at competitive prices. The ZTE Blade and nubia series will cater to various needs, from gaming to photography, with strong battery performance.
Mobile number portability in Nigeria surged by 190% in January 2025, with 8,708 subscribers switching networks. 9mobile faced the highest losses, losing 6,716 customers, while MTN, Airtel, and Globacom benefited. This shift reflects dissatisfaction with service quality and pricing. The telecom sector saw overall growth in subscriptions.
Basata Pay is transforming Egypt’s financial landscape by offering secure, user-friendly digital payment solutions. With over 40 million users, the platform connects service providers, merchants, and consumers, allowing seamless payments for various services. Spanning all 27 governorates, it boasts 150,000 points of sale nationwide, driving financial inclusion.
Morocco is adopting blockchain and AI as part of its Digital Morocco 2030 strategy to modernize its economy. The initiative aims to create a digital economy, generate 240,000 jobs, and contribute over $10 billion to GDP, positioning Morocco as a regional tech hub with a focus on blockchain and AI.
Microsoft has partnered with the Government of Kuwait to establish an AI-powered Azure Region, driving digital transformation and AI innovation aligned with Kuwait’s Vision 2035. The initiative will provide scalable cloud services, support startups, enhance public services, and promote economic growth, positioning Kuwait as a regional AI technology leader.
