The acquisition of 21.9 per cent strategic stake in the Zain Group has enabled Omantel to become one of the largest telecom groups in the MENA region, serving ten markets and over 50 million customers
Domestic telecom situation remained under stress due to challenging market conditions and subdued macro-economic environment during 2018. Omantel however maintained its revenue growth rate similar to what was recorded in the year 2017. Omantel parent company revenue posted a growth of 2.6 per cent during FY 2018, which was slightly up from the 2.5 per cent growth recorded in FY 2017. Omantel Group, including Omantel subsidiaries, associates including Zain, posted a year-on-year growth of 190.8 per cent.
The company’s growth story however carries a strengthening backdrop of operational, financial and competitive pressures. In order to manage these challenges, Omantel has been constantly working on diverse initiatives to improve operational efficiencies and generate additional sources of business wherever possible.
Omantel is putting its core focus on catering to the data consumption and services growth in both fixed line and mobile broadband segments. Growth in data uptake, driven by rapidly penetrating smart devices, and increasing fixed broadband penetration led the company to expand its core and access network footprint, product line, retail presence and marketing visibility.
Omantel is pursuing a policy of supporting the Sultanate’s enterprise growth and strengthening its corporate clientele by spreading services beyond just connectivity. The ICT division has been actively interacting with public as well as private sector corporations for developing and provisioning of tailored corporate solutions in both connectivity and ICT domains.
Acquisition of Zain
Omantel’s acquisition of 21.9 per cent strategic stake in the Zain Group has expanded its geographical footprint to nine countries. An immediate growth achieved through this prolific acquisition is observed as Omantel has become one of the largest telecoms group in the MENA region, serving 10 markets and over 50 Mn customers.
2018 was the year of initiating close collaboration between Zain Group and Omantel on several fronts with the objective of driving digitisation strategy to a success. In 2019, Omantel will continue to work closely with the Zain group in extracting long term economic benefits through materialisation of wholesale and ICT synergies.