Zain Group’s net profit for 9M ended Sept 2021 grows 5% to reach $450m

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