Maroc Telecom’s H1 2024 results show a 5.1% increase in customers to 78.4 million and a 0.9% rise in revenues, driven by Moov Africa. Mobile Data and Fiber Optics revenues surged, offsetting declines in Morocco. The Group maintains a strong EBITDA margin and significant investments, with stable 2024 forecasts despite litigation impacts.
Nepal’s 4G user base has surpassed 20 million, with mobile broadband holding a 66.28% market share, per the NTA’s latest report. Despite a minor decline of 204,548 users from Falgun to Chaitra 2080, Nepal Telecom and Ncell continue to dominate the 4G landscape, driving digital transformation and connectivity.
Algeria’s government is launching a five-year digital transformation strategy aimed at shifting from paper-based to digital management, enhancing transparency, and boosting economic performance. The plan includes a new digitization law and strengthened cybersecurity measures, positioning Algeria to overcome bureaucratic hurdles and accelerate ICT development by 2029.
Zain KSA announced impressive H1 results with a 60% increase in net profit to SAR172 million ($45.8 million) and revenue of SAR5 billion ($1.3 billion). The growth was driven by enhanced customer experience, expanded 5G coverage, and increased demand during the Hajj season, alongside strong sustainability practices.
Orange Jordan and the Public Security Directorate conducted a session on AI’s role in transforming public security operations. The session aimed to enhance knowledge on AI applications, including crime prediction and cyber threat detection, promoting digital culture and improving security strategies and responses across various departments.
Grid Telecom and Dawiyat Integrated have partnered to build a subsea cable system connecting Greece to Saudi Arabia. The project aims to enhance network resiliency and expand reach, leveraging Crete’s strategic position. Details and timelines are yet to be announced, with potential synergies for additional projects like hyperscale-ready data centers.
Egyptian fintech company MNT-Halan has secured US$157.5 million in funding to support its global expansion. Founded in 2018 to provide digital banking solutions for the unbanked, MNT-Halan’s ecosystem includes business lending, consumer finance, and e-commerce. With over 2.2 million active users, the company aims to extend its innovative financial services internationally.
Emirates Integrated Telecommunications Company (EITC) reported a 46.3% increase in Q2 net profit to AED581 million, driven by 7.3% revenue growth. Mobile and fixed customer bases grew, with strong performance in enterprise and consumer products. EBITDA rose by 3.2%, and Capex moderation led to a 10.9% increase in free cash flow.
Leading Saudi telecom group stc has reported solid financial results for the first half of 2024, with a 4.79% increase in revenues, reaching SAR38.25 billion ($10.2 billion). Net profit surged by 7.73% to SAR6.6 billion, driven by growth in customer and carrier revenues, as well as subsidiary performance. The company’s “Dare 2.0” strategy and cost efficiency programs were key factors in achieving these results.
Veon subsidiary Jazz has secured a PKR75 billion (US$270 million) loan to expand its infrastructure and transition from a telecom company to a technology services provider. The credit facility, led by The Bank of Punjab, is the largest long-term private sector syndicated credit facility in Pakistan, enabling Jazz to enhance digital infrastructure and invest in cloud, software, and financial services.
