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 has partnered with the GSMA Innovation Fund to co-finance and support startups in Pakistan and Bangladesh. Through JazzWorld and Banglalink, the initiative will provide funding and capacity-building assistance to digital innovators driving social and economic impact.
VEON will invest $20 million in Mobilink Bank to scale MSME financing and expand digital Islamic banking in Pakistan. The move builds on earlier funding and reinforces VEON’s confidence in the country’s fast-growing digital financial services ecosystem.
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.
VEON has appointed Aamir Ibrahim, CEO of Jazz, and Evgeniy Nastradin, CEO of Beeline Kazakhstan, to its Group Executive Committee (GEC), effective January 1, 2025. Their appointments will bolster VEON’s digital services growth strategy and market alignment, contributing to the company’s ambitious expansion plans.
VEON Group has invested $15 million in Mobilink Bank to support its growth, focusing on MSME financing, Islamic banking, and digital transformation. The funds will enhance the bank’s operational capabilities, expand its outreach, and introduce innovative services, contributing to Pakistan’s financial ecosystem and digital banking future.
VEON’s Jazz has partnered with Standard Chartered Bank to establish a regional availability zone through its enterprise solutions arm, Garaj. This collaboration aims to enhance SCB’s operational resilience and customer experience by providing advanced data center services in Pakistan, reinforcing both companies’ commitment to digital transformation.
This strategic shift positions VEON as the largest Nasdaq-listed company in Dubai and underscores its commitment to digital transformation in the region.