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Chairman says that e&’s transformation into a global tech conglomerate is supported by strong financial performance.

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ABU DHABI 26 February 2022 (WAM), — The Group announced its transformation as a global technology conglomerate on 26 February 2022. It has since begun to increase its digitalization leadership by implementing its ambitious strategy towards a brighter digital future.

The Group’s business pillars should be refreshed in line with its goals for geographic expansion, deeper market penetration, profitable ventures, acquisitions, and exploring adjacencies. This will help to increase business growth across all segments.

The Chairman of e& Jassem Mohamed Bu araba Alzaabi has stated that the Group’s solid financial performance and outstanding business results in its markets have put it on solid ground to start a new chapter.

On 26 February 2022, the Chairman spoke at a Media Majlis. The Group discussed how well-placed they were to help them achieve their aspirations using specialist business pillars.

Since its inception in 1976, the UAE’s first telecom company, this multi-billion-dollar business has experienced several successes. In January 2022, the Group has named the most potent telecoms brand worldwide. It was also ranked first in the Forbes MENA Top 10 Most Valuable Companies in the UAE. It reported a substantial net loss of AED 9.3billion in 2021, an increase of 3.2% year on year. It also saw a 3.0 percent increase in its aggregate subscriber base to 159million.

The Group is also aggressive in its pursuit of strategic partnerships and acquisition strategies to revolutionize business.

He stated, “Our exceptional financials and strong standing on the market show our strength and ability to take our success to new heights. We refocus our efforts to invest in breakthrough technologies, accelerate in-depth market penetrations, and capitalize on solid ventures with key industry players.

“We have ample confidence in our ability to expand through the business pillars because of the digital revolution.”

The Group has a unique position in the MENA region, allowing it to take advantage of regional growth opportunities and explore markets outside the region. E & is a dominant market player in the MENA region. Its ICT market share includes Egypt, Saudi Arabia, and UAE. This market will grow more than 15% annually between 2020-2025. The MENA region has significant digital white space, which has led to a rapid rate of digital disruption in the business world.

He outlined the steps needed to make the Group ride the changes.

He stated that “driven by our track record and the milestone achievements we have seen so far, we are confident to lead the digitalization conversation.” Our determination to do more for our shareholders and customers through our commitment to improving the quality of our services and solutions is what drives us. We are bridge builders. Our scalable technology expertise and strong telecoms expertise allow us to create positive change for customers, increase shareholder value, and strengthen our global presence.

“Through our main business foundations, we create a future-ready business model that celebrates our past while embracing the possibilities ahead.”

As the Group embarks on its journey towards a digital future, its specialist business pillars will be its strategic building blocks.

The Group’s growth engine, Telecoms, is poised to accelerate its growth to expand into new markets and improve operational performance in existing ones.

This business operation has a strong presence across 16 countries in Asia, Africa, and the Middle East. It will expand its reach by establishing solid partnerships and scaling up synergies within the telecom industry. Its innovation, imagination, and implementation of new ideas will enable smart connectivity and maximize value for all customers in the age of “connectivity revival.”

Telecoms is a forward-thinking company that will build brand equity, increase global customer satisfaction, create synergies of size, expand its digital services, and explores other businesses. It will also keep its promise to provide outstanding customer experiences.

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Through a state-of-the-art super app marketplace’, this business pillar puts the next-generation digital world at the fingertips of its customers. It targets specific consumer segments, advances new business growth opportunities, and amplifies innovative consumer digital offerings across all industries.

E & life, the Group’s major value contributor, will play a crucial role in driving the Group’s consumer’s digital future through a range of intelligent connectivity platforms and carefully curated consumer products.

e&life, the super app marketplace, offers customers cutting-edge lifestyle services. These include online food ordering, entertainment (through majority-owned platforms), retail, finance, and mobility.

E & Enterprise combines the agility and expertise of both a professional and digital managed service company with the reach and strength to lead digital transformation and accelerate digital adoption for large corporations, governments, and other organizations.

It is transforming organizations and economies to a safer, more sustainable, and more thoughtful world through the cloud, cybersecurity, the internet of things (IoT), and artificial intelligence.

E & Enterprise has a proven track record of successfully delivering large-scale digital projects and solutions via intelligent and secure cloud platforms. They offer comprehensive services, including consultancy, business modeling, solutions design, solution management, execution, delivery, and support after implementation.

E & Capital is focused on creating a better future. We invest in the people and ideas that will get us there—acquiring, supporting and growing visionary tech companies that move this world forward.

E & is focused on long-term financial growth. We choose technology investments that will generate high returns and are compatible with our aspirations.

Hatem Dowidar (Group CEO, e&) further explained how the Group achieved success in maximizing the value of the core, expanding its regional footprint leadership, and strong financial results.

He stressed the importance of adopting a progressive mindset and harnessing a growth mindset to see beyond telecoms to create a bright digital future.

He stated, “Technological disruption brought the winds of change that were unlike anything we’ve ever seen.” Instead of standing at crossroads and wondering what to do next, we asked, “How can I capture and accelerate growth while still being strong and successful?” It is easy to see the answer. We set out to explore the world beyond telecom and create, design, and implement solutions that would improve the lives of our customers and the digitalization of businesses.

“This journey required us to take enormous steps to explore adjacencies and look at how we can create focused digital units. We also built solid partnerships and explored collaborative opportunities that would draw out-of-industry investors and partners. We are happy with the results so far. They indicate that the Group is ready to grow, with clear strategic imperatives to speed up digital transformation.

He talked long about how e&’s work impacts people’s lives at all touchpoints. He said, “While our strong financial performance has given us an obvious snapshot of our readiness for embarking on this new adventure, we also continue to focus on how our work affects people’s lives.” We believe we make a difference in millions of lives. This is one of the reasons we have been able to overcome any challenge and remain agile. In everything we’ve done and all that we plan to do in the future, our driving forces have been improving customer experiences and empowering society.

“We will continue our efforts to innovate in an era of rapid digitalization.”

Dowidar commented on the Group’s dedication to living by sustainability principles and highlighted that many measures had been taken to reduce their footprint. After launching the sustainability framework and enhanced policies that conform to international best practices, E&’s ESG rating has been upgraded by MSCI Global Index from ‘BBB” to ‘A.’

Dowidar stated, ” To continue delivering the sustainability plan, we have joined ICT sector commitments to net-zero emission by 2050 under the Paris Agreement. We also plan to accelerate decarbonization by reducing GHG emissions by 2030. We have a clear responsibility for ensuring sustainable operations for future generations. So we will do everything necessary to address issues like climate change, global warming, and environmental conservation.

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