Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
du, the Dubai telecom operator, recorded a 49% increase in 2024 net profit, reaching Dh2.49 billion. The company plans expansion into adjacent sectors like data centers and fintech, while launching new sub-brands. Additionally, du aims to offer sovereign cloud and AI services in the UAE by mid-2025.
The Telecommunications Regulatory Commission (TRC) transferred JD175 million to the Treasury in 2024. The report highlights key regulatory activities, including the issuance of type approvals, device entry approvals, and exemptions for 5G infrastructure. Jordan’s global rankings in mobile and fixed internet speeds were also mentioned.
Grameenphone Ltd reported strong financials in 2024, with a 60% EBITDA margin and a 20% profit margin. However, subscriber losses and economic challenges, including inflation and increased taxes, pressured growth. The company made strides in digitalization and sustainability, with significant investments in CapEx and renewable energy.
stc has reported solid financial results for 2024, with a 2.8% revenue growth and a customer base of 2.3 million. The company emphasized its commitment to digital transformation, sustainability, and innovation. stc also plans to distribute cash dividends to shareholders, reflecting its strong financial position and growth outlook.
Grameenphone (GP) posted a 10% profit growth in 2024, reaching Tk 36.4 billion, and declared a record 330% cash dividend. Despite a 4.9% revenue decline due to cautious consumer spending, GP’s EBITDA rose, and the company plans continued investment in network improvements and AI technology to drive future growth.
TAWASOL Group reported an 8.5% revenue increase in 2024, totaling 84.3 million dinars. Despite a 16% drop in local sales due to exiting the optical fiber business, strategic focus on high-value projects and Africa expansion contributed to growth in exports and the Telecom Network and aluminum extrusion divisions.
Vodacom’s shares rose 8.6% following a strong revenue report for the December quarter, with Egypt leading performance. Group revenue grew by 1.6%, while service revenue saw an 11.6% increase on a normalised basis. Despite currency challenges, the group remains optimistic about its growth, particularly in digital and financial services.
stc Group has become the largest telecom operator in MENA with a market capitalization of $57.7 billion. The company’s growth was driven by a 7.9% rise in mobile subscribers and a 2% increase in net profit. Additionally, stc launched Saudi Arabia’s first licensed digital financial institution, STC Bank.
The Telecommunications Regulatory Commission (TRC) in Jordan transferred JD175 million to the Treasury in 2024. The report also highlighted the processing of 18,715 customs declarations and the issuance of 3,415 type approvals for telecommunications equipment. Jordan ranked 83rd in mobile internet speeds and 34th in fixed internet speeds.
Pakistan faces potential losses of $1.8 billion (Rs 500 billion) in GDP due to unsold spectrum in the upcoming auction, attributed to high reserve prices. The GSMA urges more affordable pricing to avoid delays in the country’s 5G rollout, which could impact digital infrastructure and mobile data services.