Zain Group’s net profit for 9M ended Sept 2021 grows 5% to reach $450m
- Date: 10-Nov-2021
- Source: Kuwait Times
- Sector:Financial Markets
- Country:Kuwait
Zain Group’s net profit for 9M ended Sept 2021 grows 5% to reach $450m
Al-Kharafi: The exceptional 9M performance a testament to the successful implementation of the ‘4Sight’ strategy
Chairman Ahmed Al Tahous
*The Board focused on driving efficiencies and seeking new lucrative opportunities to create shareholder value
VC & Group CEO Bader Al-Kharafi
*An exceptional 9M performance with significant progress on our ‘4Sight’ strategy, fintech plans and development of numerous digital revenue streams”
* $143 million interim dividend distributed in Q4, a first by a Premier listed entity in Kuwait
* Data revenue represents 42% of consolidated revenue for the nine months
* Establishment of ZainTech targeting lucrative enterprise and government business
* Zain seeks digital banking license to become first telco-led challenger bank in Middle East
* Healthy growth in Fintech services, API platform and Esports participants
* Launch of Zain Ventures sees investment in fast-growing startups
* Revamp of Group’s Wholesale aiming to be a carrier of choice for Telcos, other carriers and OTTs
KUWAIT: Zain Group, the leading telecom innovator in seven markets across the Middle East and Africa, announced its consolidated financial results for the third-quarter (Q3) and nine-month periods (9M) ended September 30, 2021. The company ended the period with a stable customer base of 48.4 million customers.
For 9M 2021, Zain Group generated consolidated revenue of KD 1.1 billion ($3.8