Company Insights Zain Group Telecoms Zain Group Overview Zain Group was founded in 1983 as Mobile Telecommunications Company (MTC) in Kuwait and then rebranded as Zain in 2007. As well as Kuwait, Zain operates in Saudi Arabia, Bahrain, Lebanon, Jordan, Iraq, Sudan and South Sudan and serves almost 48 million customers. Traded on the Kuwait Stock Exchange, Zain Group’s major stakeholders include Kuwait Investment Authority which owns more than 15 percent and Omantel, which owns more than 21 percent. In 2005 Zain Group expanded into Africa with the $3.4 billion acquisition of Celtel International. It later sold the majority of its African operations to Bharti Airtel in 2010, but currently still operates in Sudan, South Sudan and Morocco. Zain launched its Saudi Arabia subsidiary Zain KSA in 2008 and owns a 37% ownership stake. In 2023 profits at Zain KSA more than doubled to SAR1.3 billion ($347 million and revenues reached a record high of nearly SAR10 billion, fuelled by growth in business-to-business, 5G, digital products, wholesale and its Tamam fintech unit. In 2023, Zain strengthened its market position in a landmark deal with Qatar’s Ooredoo to establish the region’s largest tower company with an estimated value of $2.2 billion. Zain Group News Telecoms First Saudi Arabia-to-Egypt subsea cable announced Mobily and Telecom Egypt have signed an agreement to lay the first subsea cable between Saudi Arabia and Egypt, the companies announced in a joint press statement on Monday. The new cable will connect the Red Sea resort of Sharm El Sheikh with the Saudi city of Duba. Egypt already has landing points for 18 […] November 5, 2024 Trade Oman-China trade value hits $15bn Bilateral trade between Oman and China increased by 8 percent year on year in the first five months of 2024, reaching more than $15 billion, according to local media. Officials said during an Omani-Chinese friendship forum in the southern city of Salalah that the major joint projects with China currently being implemented in Oman are […] August 9, 2024 Telecoms Ooredoo H1 profit rises on strong core market growth Ooredoo Group, the Qatari telecommunications company, said net earnings attributable to shareholders rose 4 percent year on year to QR1.9 billion ($512 million) in the first six months of 2024, driven by strong performance in its core markets. Revenue grew 3 percent annually to QR11.8 billion thanks to solid operational performances in Iraq, Algeria, Qatar, Tunisia […] August 1, 2024 EXCLUSIVE Tech Batelco in talks to trial 6G technology in Bahrain Bahrain telecommunications giant Batelco is in talks to trial 6th generation (6G) connectivity as the kingdom attempts to cement its position as a technological leader in the region. The island kingdom is among the first countries to have a comprehensive 5G network coverage in most urban areas, with more than 95 percent coverage courtesy of […] April 26, 2024 Banking & Finance Zain KSA profit at $347m as revenue reaches record high Mobile Telecommunication Company Saudi Arabia (Zain KSA) more than doubled its profit in 2023 to SAR1.3 billion ($347 million). Revenues reached a record high of nearly SAR10 billion, rising 9 percent yearly, fuelled by growth in business-to-business, 5G, digital products, wholesale and fintech unit Tamam. Gross profit increased 10 percent year on year to SAR541 […] March 4, 2024 Infrastructure Ooredoo to spend $1bn upgrading overseas networks Qatari telecoms group Ooredoo is to spend $1.1 billion upgrading its mobile coverage and quality of servies in a number of key overseas markets. Over the period 2024-26, the company will allocate substantial sums to improve connectivity in Algeria, Tunisia, Gaza and the West Bank, Iraq and the Maldives. Ooredoo’s operations in Gaza have been […] February 27, 2024 Finance Ooredoo’s 2023 profit reaches all-time high of $824m Qatari telecom major Ooredoo reported an all-time high net profit of QAR3 billion ($824 million) in 2023, up 28 percent year on year thanks to solid performances in Iraq, Kuwait, Algeria and the Maldives. Revenue increased by two percent year on year to QAR23.2 billion, the company, which trades on the Qatar stock exchange, said […] February 13, 2024 Analysis Industry Iraq’s biggest telecoms firms tap into resurgent market Lower taxes, improved political stability and troubles at a smaller rival have helped Iraq’s top two telecoms operators reverse a decline in earnings. Now the duo, Zain Iraq, a subsidiary of Kuwait’s Zain, and Asiacell, which is majority owned by the former Qatari telecom monopoly Ooredoo, should prosper further in 2024. Zain and Asiacell have […] January 15, 2024 Analysis Tech Korek Telecom fights $1.65 billion award to partners A Dubai court will next month hear whether it should scrap a $1.65 billion award against an Iraqi telecom operator and its politically connected top shareholder. The long-running dispute underscores the risk that foreign investors face in Iraq, a country devastated by decades of conflict and sanctions and which is among the world’s most corrupt […] January 11, 2024 Infrastructure Gulf telcos sign deal to create $2bn tower company Telecom operators Ooredoo and Zain Group on Tuesday said agreements have been signed to create the largest tower company in the Middle East and North Africa. The cash and share deal, which also involves Dubai-based Tasc Towers Holding, will establish a company comprising 30,000 telecom towers in Qatar, Kuwait, Jordan, Iraq, Algeria and Tunisia, with […] December 5, 2023 Posts navigation 1 2 3 Next
Telecoms First Saudi Arabia-to-Egypt subsea cable announced Mobily and Telecom Egypt have signed an agreement to lay the first subsea cable between Saudi Arabia and Egypt, the companies announced in a joint press statement on Monday. The new cable will connect the Red Sea resort of Sharm El Sheikh with the Saudi city of Duba. Egypt already has landing points for 18 […] November 5, 2024
Trade Oman-China trade value hits $15bn Bilateral trade between Oman and China increased by 8 percent year on year in the first five months of 2024, reaching more than $15 billion, according to local media. Officials said during an Omani-Chinese friendship forum in the southern city of Salalah that the major joint projects with China currently being implemented in Oman are […] August 9, 2024
Telecoms Ooredoo H1 profit rises on strong core market growth Ooredoo Group, the Qatari telecommunications company, said net earnings attributable to shareholders rose 4 percent year on year to QR1.9 billion ($512 million) in the first six months of 2024, driven by strong performance in its core markets. Revenue grew 3 percent annually to QR11.8 billion thanks to solid operational performances in Iraq, Algeria, Qatar, Tunisia […] August 1, 2024
EXCLUSIVE Tech Batelco in talks to trial 6G technology in Bahrain Bahrain telecommunications giant Batelco is in talks to trial 6th generation (6G) connectivity as the kingdom attempts to cement its position as a technological leader in the region. The island kingdom is among the first countries to have a comprehensive 5G network coverage in most urban areas, with more than 95 percent coverage courtesy of […] April 26, 2024
Banking & Finance Zain KSA profit at $347m as revenue reaches record high Mobile Telecommunication Company Saudi Arabia (Zain KSA) more than doubled its profit in 2023 to SAR1.3 billion ($347 million). Revenues reached a record high of nearly SAR10 billion, rising 9 percent yearly, fuelled by growth in business-to-business, 5G, digital products, wholesale and fintech unit Tamam. Gross profit increased 10 percent year on year to SAR541 […] March 4, 2024
Infrastructure Ooredoo to spend $1bn upgrading overseas networks Qatari telecoms group Ooredoo is to spend $1.1 billion upgrading its mobile coverage and quality of servies in a number of key overseas markets. Over the period 2024-26, the company will allocate substantial sums to improve connectivity in Algeria, Tunisia, Gaza and the West Bank, Iraq and the Maldives. Ooredoo’s operations in Gaza have been […] February 27, 2024
Finance Ooredoo’s 2023 profit reaches all-time high of $824m Qatari telecom major Ooredoo reported an all-time high net profit of QAR3 billion ($824 million) in 2023, up 28 percent year on year thanks to solid performances in Iraq, Kuwait, Algeria and the Maldives. Revenue increased by two percent year on year to QAR23.2 billion, the company, which trades on the Qatar stock exchange, said […] February 13, 2024
Analysis Industry Iraq’s biggest telecoms firms tap into resurgent market Lower taxes, improved political stability and troubles at a smaller rival have helped Iraq’s top two telecoms operators reverse a decline in earnings. Now the duo, Zain Iraq, a subsidiary of Kuwait’s Zain, and Asiacell, which is majority owned by the former Qatari telecom monopoly Ooredoo, should prosper further in 2024. Zain and Asiacell have […] January 15, 2024
Analysis Tech Korek Telecom fights $1.65 billion award to partners A Dubai court will next month hear whether it should scrap a $1.65 billion award against an Iraqi telecom operator and its politically connected top shareholder. The long-running dispute underscores the risk that foreign investors face in Iraq, a country devastated by decades of conflict and sanctions and which is among the world’s most corrupt […] January 11, 2024
Infrastructure Gulf telcos sign deal to create $2bn tower company Telecom operators Ooredoo and Zain Group on Tuesday said agreements have been signed to create the largest tower company in the Middle East and North Africa. The cash and share deal, which also involves Dubai-based Tasc Towers Holding, will establish a company comprising 30,000 telecom towers in Qatar, Kuwait, Jordan, Iraq, Algeria and Tunisia, with […] December 5, 2023
