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
Maroc Telecom’s debt surged by 6.6 billion MAD, making it the most indebted company on the Casablanca Stock Exchange. This increase, driven by a legal dispute resolution, contributed to a 17% rise in net debt among non-financial companies. The report also highlighted growth in turnover and investments across sectors.
Vodafone Qatar reported strong financial growth in 2024, with a net profit of QR601 million, driven by increased service revenue and EBITDA. The company continues to lead in digital innovation, sustainability, and customer experience, highlighted by key partnerships and technology advancements such as the launch of Instant SIM and 5G trials.
TELNET Holding Group reported a 13.2% increase in 2024 revenues, reaching a record 70 million dinars. The company saw significant growth across its R&D, Electronic Banking, MultiMedia, and Telecom activities, while also maintaining solid profitability and advancing its CSR/ESG initiatives.
Nigeria’s telecom companies face a 50% tariff increase approved by the Nigerian Communications Commission (NCC). The hike will raise the cost of calls and data bundles, adding pressure on Nigerians already struggling with inflation and rising living costs.
Tech Mahindra’s CEO Mohit Joshi is optimistic about 2025, expecting improvements despite a third-quarter earnings miss due to subdued telecom demand. The company saw a slight increase in revenue, with strong growth in BFSI and other segments. Tech Mahindra remains confident in its turnaround efforts and market demand.
Nepal Telecom Limited (NTC) will distribute a cash bonus of NPR 55 per share to shareholders from its profits for the fiscal year 2074/75. The proposal was approved during NTC’s 11th annual general meeting, and bonuses will be disbursed through NMB Bank starting January 15.
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.