Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Indosat Ooredoo Hutchison reported a 12% rise in net profit for 2025, driven by AI-led service innovation, network investments, and improved customer experience, reflecting continued momentum in its digital transformation strategy and strengthening financial performance.
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 (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%.
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 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.
Egyptian fintech Lucky ONE has raised $3 million in a convertible note, aiming for profitability by Q1 2025. The funds will expand its credit lending services, aligning with Egypt’s financial inclusion goals. Co-founders Momtaz Moussa and Ayman Essawy emphasize sustainable growth, with plans for regional expansion and a comprehensive financial services offering.
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.
Bahrain achieved an 89% digital transformation rate in 2024, completing over 4 million eGovernment transactions. Key advancements include expanding eServices to over 700, reducing costs by 75%, and launching new systems like Sijilat 3.0. These efforts reflect Bahrain’s commitment to digital transformation and service quality improvement across all societal sectors.
UAE telecom operators e& and du paid AED3.54 billion in federal royalty for H1 2024, down from AED3.73 billion in H1 2023. The new royalty guidelines exclude international profits, applying a 38% rate on UAE net profits and a 9% corporate tax rate.
Presight AI Holding reported a 17.4% revenue increase to AED603.5 million and a 39.1% rise in pre-tax profit for H1 2024. Key achievements include acquiring a 51% stake in AIQ, forming IntelliGrid, and securing major partnerships, driving strong financial performance and reinforcing their commitment to AI-driven innovation.