UAE’s telecom giant, e&, formerly known as Etisalat, has unveiled its comprehensive plan to drive its transformation as a global technology leader that includes geographical expansion, deeper market penetration, new ventures and acquisitions.
During a press briefing, Mr. Jassem Mohamed Bu Ataba Alzaabi, Chairman of e&, stressed that the Group’s strong financial performance and stellar business results across the markets where it operates have placed it on solid ground to start a new chapter of success.
Speaking at a Media Majlis, the Chairman highlighted the series of victories the company attained since it started operations in 1976, as the first telecom company in the UAE.
The Group was named the strongest telecoms brand in the world in January 2022. It also took first place in the Forbes MENA Top 10 most valuable listed companies in the UAE. More recently, it reported a solid net profit of $2.53 billion in 2021, a 3.2 percent increase year on year. The company saw a jump of 3.0 percent increase in its aggregated subscriber base to 159 million. The Group has also been aggressive in its acquisition strategy.
“Our exemplary financials and strong standing in the market demonstrate our strength and capability to take our success to new heights as we refocus our efforts in investing in breakthrough technologies, accelerating in-depth market penetrations and capitalizing on solid ventures with key industry players. Moreover, the digital revolution and its impact on the business world has given us ample confidence to expand even further through the business pillars.”
e& is in a privileged position in the Middle East and North Africa (MENA) region to capture regional growth opportunities while looking into markets beyond the region. The Group possesses an undisputed market position across the region with its ICT market size across the UAE, Saudi Arabia, and Egypt, three of its key markets, expected to grow by more than 15 percent annually from 2020 to 2025.
“We are the bridge builders who have mastered the art of combining our scalable technological competencies with our robust telecoms expertise so that we can drive positive change for our customers, unlock more shareholder value and strengthen our global presence. Through our main business pillars, we are creating a future-ready business model that celebrates our past and embraces the opportunities ahead of us,” Mr. Alzaabi added.
e&’s growth engine, Telecoms is set to accelerate its growth to enable its expansion into new geographic markets while boosting operational performance in existing markets. With a strong presence in 16 countries across the Middle East, Asia and Africa, the business operation will explore new geographies through building strong partnerships and scaling synergies in the telecom industry.
With a progressive mindset, Telecoms will drive brand equity and boost global customer satisfaction, achieve synergies of scale, expand its digital services and explore adjacent businesses, thus abiding by its promise to deliver outstanding customer experiences at all times.
This business pillar brings the next-gen digital world to the fingertips of its customers through a state-of-the-art ‘super app’ marketplace. e& life aims to target specific consumer segments and advance new business growth opportunities, amplifying innovative consumer digital offerings across the board.
As the major value contributor to the Group, e& life will play a critical role in driving its consumer’s digital future via a suite of carefully curated consumer products and smart connectivity platforms.
The e& enterprise is focused on leading digital transformation and accelerating digital adoption for corporates, governments and large organizations. Through the cloud, cybersecurity, Internet of Things (IoT), and artificial intelligence (AI), it is propelling organizations and economies towards a smarter, safer and more sustainable world. This business pillar provides comprehensive services in consultancy, business modeling, solutions design, program management, execution, delivery and post-implementation support.
The e& capital business pillar is focused on investing in the ideas and people that will bring a better and alternate future. Acquiring, growing and supporting the visionary tech businesses that are moving this world forward. e& is working on long-term financial growth, choosing technology investments that will create high returns and companies that fit it with the Group’s aspirations.
Further, Mr. Hatem Dowidar, Group CEO of e&, explained the Group’s success in maximizing value from the core, expanding and solidifying its regional footprint leadership, as well as the strong financial results.
Commenting on the Group’s commitment to the critical role of living by sustainability principles, Mr. Dowidar highlighted that they have put several measures in place to address the footprint across the board. E&’s ESG rating was upgraded from ‘BBB’ to ‘A’ by MSCI Global Index after it launched the sustainability framework and enhanced policies in line with international best practices.
“To continue to deliver on the agenda of sustainability, we have joined ICT sectors for Paris Agreement commitments to Net Zero-emission by 2050. We are also looking at accelerating the decarbonization of activities by reducing GHG by 2030,” Mr. Dowidar noted.