Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Beyon, Bahrain’s telecom giant, reports a 1% rise in net profit to BD56.2 million and a 6% revenue increase in the first nine months of 2024. Comprehensive income surged by 22%, driven by favorable investment gains. EBITDA margin remained steady at 40% amidst consistent growth.
Egypt’s telecommunications sector has experienced significant growth, with its GDP contribution increasing from 3.2 percent to 5.8 percent. The outsourcing sector expanded by 54 percent, and Egypt now ranks first in Africa for internet speed. The country also improved its digital transformation and cybersecurity rankings.
Robi reported a 5% revenue decline in Q3 2024, impacted by an internet shutdown and floods. Revenue reached 2,474.4 crore taka, with voice revenue up 3.7% but data revenue down 15.5%. Despite challenges, profit after tax grew significantly, reflecting strong cost efficiency measures.
Ooredoo has reported a 10% increase in shareholder profits to QAR 2.92 billion for the first nine months of 2024. Revenues also rose by 2% to QAR 17.65 billion. The company continues to focus on expanding its digital infrastructure and securing financing to support growth in data center and AI operations.
Ooredoo Algeria has reported strong financial growth for the first three quarters of 2024, with revenues reaching 77.3 billion Algerian dinars, a 15% increase from 2023. The company also emphasized its commitment to social responsibility through various humanitarian initiatives and educational support for underprivileged communities.
Ooredoo has reported a 2% revenue increase for the nine-month period ending September 30, 2024, reaching QAR17.7 billion. The company also achieved a 15% rise in normalized net profit and secured a $500 million bond issuance to support growth, particularly in its data center business and digital infrastructure.
Jazz has completed its second unsecured Sukuk issuance, raising Rs15 billion, significantly oversubscribed with 4x demand from the non-bank market. The funds will enhance Jazz’s 4G network expansion, aiming to provide digital services to over 71.5 million customers across Pakistan, reinforcing its commitment to bridging the digital divide.
Telenor Pakistan reported a 6.7% revenue increase for Q3 2024, totaling Rs. 30.11 billion, despite challenging economic conditions. The company achieved an organic growth rate of 8%, though its subscription base declined by 3%. Average Revenue Per User (ARPU) rose by 11%, contributing to a robust 9% growth in EBITDA.
Robi Axiata reported a 78% year-on-year increase in profit, reaching Tk 1.89 billion in Q3 2023, driven by effective cost management and reduced foreign exchange losses. Despite a nearly 3% decline in revenue to Tk 24.74 billion, the company maintained growth momentum through strategic investments.
Ooredoo reported a 2% revenue increase to QAR 17.7 billion and a 15% rise in normalized net profit to QAR 2.9 billion for the first nine months of 2024. The company is positioning itself as a leading digital infrastructure provider and has secured significant financing for its data center expansion.