IFZA and Abu Dhabi Islamic Bank (ADIB) have signed an MoU to provide businesses within the IFZA community with enhanced financial solutions, including streamlined account opening and tailored financing options. The partnership aims to foster economic growth, supporting entrepreneurs and SMEs with digital banking services and personalized advisory support.
Ncell has received an “A” rating from ICRA Nepal for a Rs 22.60 billion loan, reflecting the company’s strong financial health despite revenue declines. The rating highlights Ncell’s steady profitability, strong management, and effective cost control strategies. The telco maintains a dominant market share in data services.
The Algerian Stock Exchange experienced historic growth in 2024, with market capitalization reaching 518 billion dinars. The anticipated listing of telecom giant Djezzy in 2025 is expected to further boost the exchange’s profile. Ongoing modernization efforts aim to attract more investors and enhance market accessibility for SMEs.
Pakistan has joined the 2Africa Cable Project, which spans 45,000 km of undersea cables connecting 46 stations across 33 countries. The telecom sector saw significant growth, with a 17% revenue increase, while Pakistan’s global digital rankings improved. The country also advanced in mobile connectivity and cybersecurity efforts.
Qatar’s computing market is set to reach $72.67 million by 2025, driven by growth in digital transformation, AI, and IoT technologies. The market will see a 3.35% CAGR, with user penetration expected to rise. Major tech firms like Google Cloud and Microsoft are key contributors to this growth.
Pakistan’s telecom sector generated Rs2.521 trillion in revenue over the past decade, with major operators contributing Rs763.81 billion in taxes. Jazz led the industry, followed by Zong and Nayatel, underscoring the sector’s crucial role in supporting the economy through substantial tax contributions and meeting the country’s communication needs.
In October 2024, Bangladesh saw a significant rise in remittances, with Tk1,102.22 crore sent home via mobile financial services, marking a 95.22% YoY increase. This growth reflects the growing popularity of MFS platforms like bKash and Nagad, contributing to increased customer confidence and ease in remittance transfers.
Nepal Telecom (NT), Agriculture Development Bank Limited (ADBL), and Citizens Investment Trust (CIT) have announced dividend payouts for their shareholders. NT has proposed a 30% dividend, CIT 13%, and ADBL 10.53%. NT’s revenue decline has been attributed to reduced voice call usage due to OTT services and increased competition.
Omantel’s financial results for the nine months ending September 30, 2024, showed a net profit of RO187.5 million and a 2.2% growth in revenues. Despite a decrease in domestic net profit due to investments in network expansion, the group remains on a solid growth trajectory, with Zain Group also posting strong revenues.
Despite the revenue decline, the company’s operating income increased by 1.11%.
