Kuwait’s Zain Group profits jump 22% to $165 million amid aggressive non-telco investments – Arabian Business

Kuwait’s Zain Group profits jump 22% to $165 million amid aggressive non-telco investments – Arabian Business

Kuwait-based Zain Group has recorded KD50 million ($165 million) in net profits in the first half of 2022, representing a 22 percent year-on-year growth, it said in a statement.

The financial results come as the telecom provider ramps up investments in 4G and 5G network upgrades expansion, as well as its aggressive approach to venturing out of the telecom space.

“The Board and management are focused on driving sustainable shareholder value through strong environmental, social and governance (ESG) practices, diligent investments in 4G and 5G network upgrades expansion, and seeking new lucrative business verticals to drive growth,” Ahmed Al Tahous, Zain Group’s chairman of the board of directors, said.