Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
VEON’s CEO, Kaan Terzioğlu, emphasized that regulatory reforms in Bangladesh could unlock the country’s potential for digital financial services, transforming the economy within three years. With the right reforms, VEON plans to expand digital offerings, including financial services and telecom, to foster growth and increase profitability in the market.
Zain Saudi Arabia reported record revenue of SAR10.4 billion for FY 2024, reflecting a 5% growth. The company achieved a 354% increase in normalized net profit and a 12% growth in EBITDA. The Board recommended a 5% dividend, driven by strong demand for 5G and digital services.
Zain Bahrain reported a 6.8% increase in revenue for FY2024, reaching BD77.24 million. The company’s total profit grew by 2%, and it recommended a 9 fils per share dividend. Key achievements included its collaboration with BNET and maintaining a Bahrainization rate of 93.33%.
PTCL Group achieved 17% revenue growth in 2024, driven by strong performance in broadband, mobile data, and business solutions. Key highlights include Ufone’s 25% revenue growth, Flash Fiber’s market leadership, and PTCL’s innovative services. The company also focused on social impact through initiatives like ‘Dil Se’ and women’s empowerment programs.
Oman’s telecom sector saw a 33.9% increase in postpaid mobile subscriptions, reaching 2.4 million by December 2024, while prepaid subscriptions fell slightly by 1.6%. Total mobile subscriptions rose by 7.5%, with significant growth in mobile broadband and fixed internet. The fixed-line sector, however, saw a sharp decline.
India’s telecom sector is rapidly growing, with 5G adoption and AI integration advancing alongside plans for 6G development. Challenges like large traffic generators, OTT regulation, and infrastructure constraints persist. The government’s Bharat 6G Vision aims for 10% of global 6G patents, positioning India as a leader in digital advancements.
Pakistan Telecommunication Authority’s 2024 Annual Report highlights impressive growth in the telecom sector, including record revenues, increased broadband and mobile internet subscribers, and enhanced local device manufacturing. The report underscores PTA’s commitment to digital transformation and innovation in the telecom industry, aligning with global standards.
Pakistan has seen a 28% increase in mobile internet speed over the past year, with speeds rising from 15.65 Mbps to 20.02 Mbps. The PTA reports a 24.2% surge in mobile internet usage and highlights positive growth in broadband and telecom subscribers, despite challenges in global internet speed rankings.
Mobile Telecommunications Company K.S.C.P is expected to see significant growth starting in 2025, driven by ZainTECH, fintech initiatives, and 5G investments. Despite challenges such as high debt levels and economic risks in certain markets, the company’s strategic moves are set to boost revenue and EBITDA growth over the coming years.
Jazz has reported $1 billion in revenue for the first nine months of 2024, marking a strong recovery after two years of underperformance. The company’s success is attributed to its pivot to a ServiceCo model, digital transformation efforts, and expansion in fintech services like JazzCash.