Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Makhazen’s first full quarter post-rebranding shows strong core profitability growth, boosted by Kuwait-based infrastructure investments and operational resilience, while the Agility Global stake continues to contribute to earnings through associate performance.
Bangladesh Submarine Cables posted a 42.1% rise in Q1 FY26 profit to Tk 619.10 million as bandwidth demand and core business revenue grew. EPS, cash flow, and NAV per share all improved, reflecting strong fundamentals as the country’s sole international submarine cable operator benefits from rising internet usage nationwide significantly.
Wio Bank is nearing Dh60 billion in assets less than three years after launching and is aiming to cross the Dh100 billion threshold within two to three years. Backed by ADQ, e&, FAB and Alpha Dhabi, the digital bank has become one of the UAE’s fastest-expanding lenders and intends to secure a top-three position in the retail and SME banking market as it continues its rapid growth.
Saudi Arabia’s Tarmeez Capital and Monsha’at have launched a $1 billion Shariah-compliant SME financing program to strengthen private-sector growth and support Vision 2030 goals through Sukuk-based funding.
Jazz reported 14.6% YoY revenue growth in Q3 2025, investing PKR 37 billion to expand 4G and digital platforms. Its fintech arm JazzCash grew 57.8% in transaction value, while Tamasha and SIMOSA drove user engagement across a 100-million-strong digital ecosystem.
Vodacom’s revenue rose 10.9% to R81.6B in H1 2025, driven by strong data and fintech growth across South Africa, Egypt, and Safaricom. The Group expanded 5G, grew financial services users to 93.7M, and advanced Vision 2030 targets through R9.4B in digital infrastructure investment.
Oman’s fintech market is projected to reach $2.8B in 2025, driven by new digital-bank rules, an active sandbox, and strong AI-led innovation. With 42 firms now licensed and rapid investment inflows, Oman is positioning itself as a leading GCC fintech destination under Vision 2040.
Veon raised its 2025 earnings outlook, forecasting 16–18% EBITDA growth driven by booming digital services in Pakistan, Bangladesh, and other markets. Q3 revenue hit $1.12B, with digital services up 63% year-on-year, highlighting the telecom’s successful pivot toward high-margin digital ecosystems.
Bangladesh has approved a SIM-lock smartphone installment policy allowing telcos to sell devices on flexible payment plans, expanding access for low-income users and accelerating digital inclusion while ensuring fair competition and consumer protection.
Zain Group achieved its best performance in 16 years, with KD 1.7 billion in revenue and 31% profit growth, driven by fintech, AI, and enterprise solutions under its 4WARD strategy — reaffirming its position as MENA’s leading digital powerhouse.