Yahsat Approves Interim Dividend of 8.40 Fils Per Share for H1 2024
The GAM is scheduled to take place on 26th September 2024, though the exact date may be subject to change, pending a decision by the Securities and Commodities Authority.
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KBW Ventures Invests in Egyptian Climatetech Startup NoorNation
KBW Ventures, founded by Saudi Prince Khaled bin Alwaleed, has invested in NoorNation, an Egyptian climatetech startup. NoorNation, which offers decentralized energy and water solutions, was recognized at the PepsiCo Greenhouse Accelerator Programme. This marks KBW’s first investment in Egypt, highlighting a commitment to sustainable technology in emerging markets.
SLT-Mobitel Reports Growth and Enhanced Efficiency in the First Half of 2024
SLT-Mobitel showcased resilience and growth in the first half of 2024, achieving a revenue increase and significant operational efficiency gains. Strategic cost management and lower finance costs helped narrow net losses, while investments in network infrastructure are set to enhance customer experience and drive future growth.
Telecom Egypt Seeks $150 Million Loan for Debt Restructuring
Telecom Egypt plans to secure a $150 million loan for debt restructuring, separate from another EGP 18 billion needed due to recent interest rate hikes. This financial strategy follows a report of a 35% increase in annual revenue and significant profit, illustrating the company’s proactive management in a volatile economy.
Nepal Telecom Reports 16.44% Decline in Q4 Net Profit Amid Revenue and Investment Reductions
Nepal Telecom (NT) reported a 16.44% decline in net profit for Q4 FY 2080/81, dropping to Rs. 6.62 billion. The decrease was driven by a 4.99% reduction in revenue and significant declines in investments and finance income. However, the company saw a slight increase in reserves and reduced operating expenses by 12.98%.
Telecom Egypt Reports 35% Revenue Growth in H1 2024 Amid Economic Challenges
Telecom Egypt reported a 35% revenue increase in H1 2024, reaching EGP 38 billion, driven by a surge in retail and data revenue. Despite economic challenges, the company achieved strong growth in customer base and international operations. Telecom Egypt remains focused on optimizing CapEx and positioning itself as a regional data hub.
Banglalink Achieves Decade-High Revenue Growth in 2023, Driven by Strong Data Revenue
Banglalink achieved a decade-high revenue growth of 14.4% in 2023, driven by a 25% increase in data revenue. The company’s expansion strategy, including a 24.5% growth in its 4G user base and the success of digital services like the MyBL Super App, fueled this significant performance boost.
Maroc Telecom Boosts Investments in First Half of 2024, Expands Subscriber Base
Maroc Telecom invested 3.2 billion dirhams in the first half of 2024, marking a 9.8% increase from the previous year. The investment fueled a 5.1% rise in subscribers to 78.4 million. Despite a slight dip in revenue and EBITDA, the group’s adjusted net income grew by 0.3% to 2.94 billion dirhams.
Damac Capital Reports Strong ROI on Strategic Investments in SpaceX and Stripe
Damac Capital, the investment arm of Damac Group, reports strong ROI from its strategic investments in SpaceX and Stripe. These investments highlight the group’s commitment to advancing global technology and innovation. Damac Capital is also expanding into AI, supporting high-growth companies poised to lead in their industries and drive global economic progress.
Zain Group Q2 2024 normalized net income growth soars 55% to reach KD 52 million (USD 170 million), Board declares interim dividend of 10 fils per share
Zain Group’s Q2 2024 results show a 79% net profit increase, with revenue growing 4% YoY to KD 479 million (USD 1.6 billion). Customer base soared 13% to 47.8 million. Key highlights include growth in 5G revenues, fintech services, and digital operator entities, despite challenges in Sudan.