Etisalat (e&) looks to expand its business in telecom sectorPublished Date: February 27, 2022 |
A UAE company e& (Etisalat) is looking to expand its telecom business in various regions including Asia, Africa, and Europe to solidify its position in the global market.
On Friday, the e& shared information, e& records a net profit of US $ 2.4 billion in 2021 which is an increase of 3.2% compared to 2020, and it gains a growth of 3% in its subscriber in Pakistan, Africa, and MENA region, which is a total of 159 million subscribers.
The company is looking to explore a range of new possibilities, joint ventures, acquisition, and listing of subsidiaries.
Mr. Alzaabi said, our exemplary financial position and strong market position demonstrate our strength and ability to take our success to new heights as we continue to invest in breakthrough technologies penetrate deeper into the market, and build solid enterprises with key industry players.
Based in Abu Dhabi, the company was established in 1976 and is the oldest telecommunications company in the United Arab Emirates. It has operations in countries in the Middle East, Asia, and Africa, serving 159 million customers. The company is also exploring the development of the next-generation mobile network 6G that will allow the use of much faster and more sophisticated mobile technology.
Elaborating on the group’s new business model following its rebranding announcement last week, Alzaabi said that the first pillar of our business, telecommunications, with continued strong growth and planned expansion into new geographies, the group is looking at opportunities in other sectors as well.
The group has split its business into consumer services-focused e& life – which will provide a next-generation digital world at your fingertips, and e& enterprise to provide digital services to government and business, which will offer consultancy services, business modeling, program execution, and others through the cloud, IoT, and AI.