Zain KSA announced its financial results for the first half of 2024, recording revenues of SAR 5 billion, a 6% increase compared to the same period in 2023. The company also reported a net profit of SAR 172 million, compared to SAR 108 million, a 60% growth over the same period in 2023, after excluding the tower infrastructure sale transaction worth SAR 1.1 billion.<\/p>\n\n\n\n
These results underscore\u00a0Zain KSA\u2019s\u00a0strategy of enhancing customer experience and expanding\u00a0next-gen\u00a0technologies. This has led to revenue growth in the\u00a0B2B\u00a0sector and increased service demand during the 1445 AH Hajj season. Zain KSA was the first operator to provide full 5G coverage of the holy sites. This was paired with sustained demand for the\u00a0digital service Yaqoot.\u00a0Likewise, Zain KSA\u2019s\u00a0business and return on investments in\u00a0adjacent\u00a0markets\u00a0grew,\u00a0particularly\u00a0in the\u00a0fintech\u00a0sector through Tamam.<\/p>\n\n\n\n
Commenting on these results, Eng. Sultan bin Abdulaziz Al-Deghaither, CEO of Zain KSA, said: “At Zain KSA, we continue to enhance the digital capabilities of our individual and enterprise customers to drive nationwide digital transformation. This growth resulted from our strategic directions over the past years,\u00a0which\u00a0focused\u00a0on empowering a seamless\u00a0customer-centric\u00a0digital experience. We have launched our new expansion plan with investments amounting to SAR 1.6 billion,\u00a0seeking to\u00a0increase\u00a05G network coverage from 66 to 122 cities. <\/p>\n\n\n\n
Additionally, we achieved a significant milestone by providing full 5G coverage of the holy sites, contributing to the Pilgrim Experience Program by offering advanced infrastructure that enhances digital experiences for pilgrims.\u00a0Through these investments, we also aim to support Industry 4.0 by allocating 45% of the 5G infrastructure to support advanced 5G technologies. As we continue to grow\u00a0in terms of\u00a0operations\u00a0and financial\u00a0performance, we reaffirm our commitment to supporting our\u00a0astute\u00a0leadership’s efforts, particularly in enhancing the growth of local content in the\u00a0ICT\u00a0sector. We introduced the first fleet management system as a 100% national product.\u00a0These initiatives support\u00a0Saudi Vision 2030’s economic goals by diversifying national revenue sources and supporting Saudi products to the highest standards of reliability and excellence. This, in turn, enhances our nation’s prosperity and sustainability..”<\/p>\n\n\n\n
Parallel to this business growth,\u00a0Zain KSA is committed to\u00a0operating responsibly and\u00a0in full compliance with the best global sustainability practices. With extensive experience in sustainability, the company aims to transfer and share this knowledge to enhance the capabilities of\u00a0SMEs\u00a0in the\u00a0ICT\u00a0sector.\u00a0As a result,\u00a0Zain KSA has been selected among 22 leading national companies in the Kingdom for its sustainability practices\u00a0and has signed\u00a0the Sustainability\u00a0Champions\u00a0Charter, a vital Ministry of Economy and Planning initiative.<\/p>\n","protected":false},"excerpt":{"rendered":"
Zain KSA announced its financial results for the first half of 2024, recording revenues of SAR 5 billion, a 6% increase compared to the same period in 2023. The company also reported a net profit of SAR 172 million, compared to SAR 108 million, a 60% growth over the same period in 2023, after excluding […]<\/p>\n","protected":false},"author":16,"featured_media":35072,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_meta-robots-noindex":"","_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_pr_autopilot_social_copy":"","_yoast_wpseo_opengraph_title":"","_yoast_wpseo_opengraph_description":"","_yoast_wpseo_opengraph_image":"","_yoast_wpseo_opengraph_image_id":0,"_yoast_wpseo_twitter_title":"","_yoast_wpseo_twitter_description":"","_yoast_wpseo_twitter_image":"","_yoast_wpseo_twitter_image_id":0,"_yoast_wpseo_primary_category":24,"_extra_hide_author_box":"","_extra_featured_post":"","_partner_post_id":0,"footnotes":""},"categories":[24,22],"tags":[],"class_list":["post-50720","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-telecom","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"\n