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 Analysis Telecoms UAE-run Maroc Telecom ends dispute with rival operator Inwi UAE-controlled Maroc Telecom and Inwi, a domestic rival owned by Morocco’s royal family, have settled a long-running dispute and agreed to launch two joint ventures to expand and upgrade the kingdom’s telecom networks. The surprise détente is a significant breakthrough for Maroc Telecom, which has succeeded in reducing the compensation it owed Inwi and fixes […] April 1, 2025 Telecoms Profits fall as Omantel loses subscribers to rivals Profits have fallen at Oman Telecommunications Company after it lost market share to competitors. Omantel, Oman’s largest telecommunications provider, said net profit was down 3 percent last year to $795 million. Market share fell five percentage points in 2024 to 48 percent of a total of 7.1 million subscribers in the country, down from 53 […] March 12, 2025 Analysis Tax Doubt surrounds e&’s earnings as UAE tax rise looms There is uncertainty over whether e&, the UAE’s former telecom monopoly, will pay more of its profit in taxes after the federal government announced it would raise corporate tax for multinational companies operating in the country from 2025. Emirates Telecommunications Group, which rebranded as e& but is better known under its previous name Etisalat, is […] December 12, 2024 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 Posts navigation 1 2 3 Next
Analysis Telecoms UAE-run Maroc Telecom ends dispute with rival operator Inwi UAE-controlled Maroc Telecom and Inwi, a domestic rival owned by Morocco’s royal family, have settled a long-running dispute and agreed to launch two joint ventures to expand and upgrade the kingdom’s telecom networks. The surprise détente is a significant breakthrough for Maroc Telecom, which has succeeded in reducing the compensation it owed Inwi and fixes […] April 1, 2025
Telecoms Profits fall as Omantel loses subscribers to rivals Profits have fallen at Oman Telecommunications Company after it lost market share to competitors. Omantel, Oman’s largest telecommunications provider, said net profit was down 3 percent last year to $795 million. Market share fell five percentage points in 2024 to 48 percent of a total of 7.1 million subscribers in the country, down from 53 […] March 12, 2025
Analysis Tax Doubt surrounds e&’s earnings as UAE tax rise looms There is uncertainty over whether e&, the UAE’s former telecom monopoly, will pay more of its profit in taxes after the federal government announced it would raise corporate tax for multinational companies operating in the country from 2025. Emirates Telecommunications Group, which rebranded as e& but is better known under its previous name Etisalat, is […] December 12, 2024
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
