Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Fitch Ratings has upgraded Omantel’s Long-Term Issuer Default Rating to ‘BBB-’ with a Stable Outlook, citing strong financial fundamentals, market leadership, and strategic importance to Oman’s economy. The upgrade aligns Omantel with investment-grade peers and highlights its central role in national digital infrastructure and regional connectivity.
Omantel is emerging as a central force in Oman’s digital transformation, aligning with Oman Vision 2040 to position the country as a global hub for digital connectivity. During the Middle East Global Carrier Community Meeting (ME GCCM) 2025 in Muscat, the company showcased its evolution from a telecom operator to an integrated technology group focused on cloud, cybersecurity, and data infrastructure.
Oman has reinforced its status as a global connectivity hub through Omantel and ZOI, integrating subsea cables, data centres, and terrestrial networks. The collaboration strengthens Oman’s digital ecosystem, enabling low-latency routes and hosting hyperscaler services for global partners.
Omantel Group achieved record revenues of RO 2.49 billion and net profit of RO 243.4 million, up nearly 30% year-on-year, as domestic and Zain Group operations fueled growth. The results highlight Omantel’s evolution into a regional digital and telecom leader under its TechCo transformation strategy.
Omantel has partnered with Kingsoft to develop Oman’s first sovereign productivity software hosted on the National Cloud. The initiative ensures data sovereignty, enhanced security, and local cost efficiency, marking a key step toward Oman’s goal of becoming a regional digital innovation hub.
Omantel has partnered with Norton to deliver Norton 360 cybersecurity protection within its Home Broadband plans, helping Omani families stay safe online. The move supports Oman Vision 2040’s goal of advancing secure digital transformation.
Omantel has partnered with AI startup Decoil to develop “Enterprise Brain,” an AI-driven knowledge platform that enhances data access and organizational intelligence. The secure SaaS solution aligns with Omantel’s Portal to the Future strategy and Oman Vision 2040 to drive digital innovation.
Omantel and Omani AI startup Decoil have joined forces to launch Enterprise Brain, an AI-powered enterprise knowledge platform that connects data, enhances decision-making, and strengthens digital resilience. The collaboration merges Omantel’s scale with Decoil’s AI expertise to deliver a secure SaaS platform built for highly regulated industries, reinforcing Oman’s ambition to lead regional AI innovation under Vision 2040.
Omantel has moved to reassure stakeholders after the FSA ordered a restatement of its 2024 financials due to IFRS compliance issues. The company said the revision is technical, will not impact operations, and it remains committed to transparency and protecting shareholder interests.
Oman’s FSA has ordered Omantel to restate its 2024 financial statements within two months after identifying non-compliance with IFRS standards IAS 29 and IAS 21. The move, issued under the Capital Market Law, aims to strengthen transparency, investor protection, and confidence in Oman’s capital market.