KUWAIT: Zain Group held its 2015 General Assembly at the company’s headquarters in Shuwaikh yesterday. The leading mobile telecom, with operations in eight markets across the Middle East and Africa, recorded revenues of KD 1.14 billion ($3.78 billion) for 2015 and a net income of KD 154 million ($513 million) for 2015. Zain also achieved a customer base reach of 45.6 million in 2015, a 3 percent increase year-on-year. The Kuwait-based telecom has focused on digital innovation as a key growth market in Kuwait and regionally.
“Innovation and the Digital space are a key strategic focus for Zain,” explained Bader Al Khorafi, Vice Chairman of the Board of Directors of Zain Group. “In 2014, we established our Zain Digital Frontier and Innovation unit tasked with cementing the position of the group within the digital space. ZDFI focuses on the areas of innovation, digital services, corporate venturing and smart cities.
To date, we have already made investments in NexGen, a smart cities operating company, we have acquired a mobile application development business (FOO) and we are in the process of launching an OTT video service in collaboration with other telecommunications operators and media partners. We are also looking at bringing digital transformation to our core business – including the use of big data analytics to enhance customer experience.”
Zain also promotes a strong community outreach and corporate social responsibility program that aims to contribute to Kuwait’s long term growth and development. “Through our corporate sustainability drive, we are focusing on addressing deficits in our communities. At the same time, we are providing avenues for entrepreneurship and innovation in our societies,” Al-Khorafi said during Zain’s GA meeting.
“Last year, we sponsored the Pan Arab MITEF Enterprise Forum start-up competition with the aim of promoting innovation and engaging aspiring entrepreneurs in mentorship, networking and development. We will continue this in 2016 with the aim of inspiring creativity amongst our youth.” Zain is a leading telecommunications operator across the Middle East and Africa providing mobile voice and data services to over 45.6 million active customers as of 31 December, 2015. Zain operates in Bahrain, Kuwait (its home market), Iraq, Jordan, Lebanon, Saudi Arabia, Sudan and South Sudan. Zain is listed on the Kuwait Stock Exchange.