TOP 25 TECHNOLOGY COMPANIES 2022

Company Size: Not Available – 43,000 Employees

Global Revenue: $14.58 bn

Selected Product: eLife Plans

E& (formerly Etisalat Group) changed its brand identity in February 2022, aiming to accelerate growth through the creation of a resilient business model. Employing some 43,000 employees, e& reported consolidated net revenue of AED53.3 billion ($14.58 billion) and net profit of AED9.3 billion in 2021. It reported consolidated net profits of AED4.9 billion for H1 2022.

The company had earnings per share reaching AED1.12 based on Q2 2022. The latest 12 months for e& showed a P/E ratio of 22.5x and the company averaged 19.3x for fiscal years ending December 2017 to 2021.

This year, e& launched its first set of non-fungible tokens (NFTs). The company’s blockchain arm crossed AED10 billion worth in transactions last year.

E& and Hub71, Abu Dhabi’s global tech ecosystem, recently announced the launch of the region’s first AI Center of Excellence (CoE). E& had earlier entered into a strategic three-year alliance with DataRobot, a global AI platform provider, to launch the first AI as a Service (AlaaS) offering in the MENAP region.

To become a leading techco player, driving innovation and enhancing organizational performance, e& announced in March a strategic partnership road map with Meta.

In February this year, e& partnered with First Abu Dhabi Bank (FAB) and UAE-based conglomerates ADQ and Alpha Dhabi Holding to launch a digital bank named Wio, with a total invested capital of $626 million in which e& holds a 25 percent share. Launched on Sept. 13, 2022, Wio will provide solutions in Digital Banking apps, Embedded Finance and Banking-as-a-Service solutions.

Company Size: Not Available – 101,000 Employees

Global Revenue: $26.876 bn

Selected Product: Triple Band Radio 6646

Ericsson is a multinational networking and telecommunications company at the forefront of information and communications technology (ICT), providing hardware, software and services.

Employing over 101,000, Ericsson has over the 12 months ending June 30, 2022 turned over $26.878 billion, with an annual net income for 2021 of $2.65 billion. Ericsson’s 2021 annual earnings per share was $0.79, while the 2020 annual EPS was $0.57.

Ericsson’s new triple-band, tri-sector radio 6646 cuts energy consumption by 40 percent, and combines 900, 800 and 700MHz frequency bands into one compact 2G- to 5G-capable radio.

Moreover, the 60-percent reduction in radio weight will allow communication service providers (CSPs) to minimize deployment costs, tower rent as well as carbon footprint. This radio will replace the job of nine single-band radios.

A team of Ericsson ONE intrapreneurs have created a recycling tracking and reporting solution that brings connectivity and transparency to waste ecosystems, helping create circular economies. A specialized platform uses the Ericsson fintech Wallet Platform that financially incentivizes recycling at scale in the MEA region, by compensating people for returning their PET bottles.

Ericsson has won the Digital Transformation Award – Vendor at the Telecoms World Middle East Conference 2022, which recognizes the Ericsson Exposure and Service Enablement Solution used with mobile consumer services across MEA.

The Ericsson Exposure solution allows for the establishment of partner-based business models and bi-directional APIs that benefit from the exposed network capabilities. Use cases can be either Mobile Broadband or IoT with exposure APIs in 4G and 5G networks. The 5G network exposure product enables additional use cases such as edge sites or Multi-access edge computing (MEC) exposure capabilities between devices or subscribers.

Company Size: 70 Offices – 140,000 Employees

Global Revenue: $278.139 bn

Selected Product: Pixel 7 Pro

Better known as a search engine technology giant, Google has a thriving business in sectors like online advertising, cloud computing, computer software, AI and consumer electronics such as Google Nest.

Employing nearly 140,000 in 2021 and with earnings per share of $1.21, Alphabet, Google’s parent company, registered $278.139 billion in revenues for the 12 months ending June 30, 2022, compared to 2021 revenues of $257.64 billion. Alphabet’s net income for 2021 was $76.03 billion.

Google, which operates from 70 offices worldwide, has a strong presence and influence in the GCC. A recent report by Public First research agency shows that 45 percent of people in Egypt last year used Google Maps to find a local business and 52 percent of Saudi businesses reported larger proportions of their customers arriving from online searches or search advertising. Some 85 percent of people in the UAE said they used Google Search to learn a new skill.

In 2021, Google products like Search, YouTube, Android, and Google Ads drove $3.2 billion, $3 billion, and $600 billion to the Saudi, UAE, and Egyptian economies respectively.

Moreover, Google Cloud announced a collaboration with the Saudi Data & Artificial Intelligence Authority (SDAIA), Ministry of Environment, Water and Agriculture (MEWA), and Climate Engine to launch the Earth Observation and Science Program. Google Cloud will train scientists to apply technology from AI, Climate Engine, and Google Earth Engine to drive sustainable initiatives. Google Cloud is expected to open a region in Doha.

Internationally, Google recently said it would bring access to a number of its popular apps, including Search, Maps, Gmail, and more, to the iPhone’s Lock Screen.

Company Size:  17 Offices – 60,400 Employees

Global Revenue: $63.48 bn

Selected Product: HP Elite Dragonfly G3

Hewlett Packard Enterprise (HP) is the global edge-to-cloud company employing 60,400 as of 2021, delivering cloud services, high-performance computing & AI, intelligent edge, software, and storage.

HP’s annual revenue for 2021 was $63.48 billion as of Aug. 30, 2022. HP’s gross profit for the 12 months ending July 31, 2022, was $12.88 billion. It announced $7 billion in net income for Q3 2022. HP 2021 annual earnings per share was $5.33, while its 2020 annual EPS was $2.

HP, which operates from 17 offices, has been transforming from a supplier of server hardware to establishing its own server systems and providing clients with subscription services called GreenLake. The company’s edge hybrid cloud provides data backup, data recovery as well as high-performance computing.

With HP conferencing, users can personalize how they show up in meetings, having the myHP application to provide a single dashboard to control and customize their PC experience.

Catering to hybrid work, the under 1 kg HP Elite Dragonfly G3 devices come with Windows 11 and 12^th Gen Intel processors. Equipped with intelligent charging, the battery learns work patterns to optimize power consumption. HP Wolf Security for Business provides a resilient defense against malware and hacking.

HP has reported $3.5 billion in sales associated with sustainability in the last three years. The company targets a 50 percent reduction in greenhouse gas emissions through the value chain by 2030 as part of achieving net zero emissions by 2040. HP’s current carbon footprint is 9 percent less than in 2019, primarily due to energy efficiency improvements across its product range.

Company Size: 170 Countries – 200,000 Employees

Global Revenue: $91.94 bn

Selected Product: Huawei Mate 30 PRO

Established in 1987/88, Huawei is a leading global provider of information and communications technology (ICT) infrastructure and smart devices. The company specializes in R&D (55 percent of workforce, spending, 22.5 percent of revenues), providing consumers personalized and intelligent experiences across home, travel and office, as well as solutions for telecom carriers in optical, fixed, mobile and data communications networks.

Hiring over 200,000 employees and operating in over 170 countries and regions, Huawei generated 2021 revenues of $91.94 billion. Its net profit for the year amounted to approximately $16.34 billion, rising more than 75 percent in 2021.

The company built 5G networks for customers in 13 countries, including Saudi Arabia. Over 700 cities and 267 Fortune Global 500 companies worldwide choose to partner with Huawei for digital transformation.

Huawei has confirmed its largest ever presence at the Oct. 10-14 GITEX Global in Dubai 5G, where it will focus on 5G, cloud, AI, digital power, cybersecurity and industry applications.

Meanwhile, Huawei is setting aside $1 million for global contest “Apps UP 2022,” which for the first time includes the “best Arabic app,” aimed at app developers to create solutions that address the region’s needs and enrich Arabic-language content.

Developers on the platform can reach 730 million global Huawei device users on The AppGallery. A growing community of 5.4 million registered Huawei developers exist worldwide.

The contest categories include the Best App, Best Game, Best Social Impact App, All-Scenario Coverage Award, Tech Women’s Award and the Best Huawei Mobile Services (HMS) Innovation Award. The HMS Innovation Award encourages developers to create apps that integrate new HMS capabilities and services.

Company Size: 28 Locations – 121,000 Employees

Global Revenue: $73.394 bn

Selected Product: Intel RealSense Depth Camera D405

Global microprocessor supplier Intel showed a turnover of over $73.394 billion for the 12 months ending June 30, 2022. Intel’s net income for the same period was $19.1 billion. Employing close to 121,000, Intel registered $15.3 billion in revenues in Q2, 2022. It had an earnings per share of $1.24 in 2021.

Operating from 28 offices worldwide, Intel and Broadcom Inc. recently showcased the industry’s first cross-vendor Wi-Fi 7, the platform for the next 10 years of wireless experiences, with speeds greater than 5 gigabits per second.

Wi-Fi 7 enables new product classes, including AR/VR and ultra-high-definition 16K media streaming, while supporting large numbers of connected devices in the home or office.

Intel also agreed with global alternative asset manager Brookfield to jointly invest up to $30 billion in leading-edge chip factories in Arizona, U.S., which will provide Intel with a new expanded pool of capital for manufacturing build-outs to accelerate the company’s integrated device manufacturing (IDM 2.0) strategy.

Intel is focusing on enabling secure and responsible AI as part of its strategy to develop quantum-resistant cryptography for the coming computing era.

At Intel Vision 2022, Intel announced seven new HX mobile processers to the 12th Gen Intel® Core™ mobile family, available in Core i5, Core i7 and Core i9 models.

Intel recently revealed that Raptor Lake, Intel’s codename for the upcoming 13th-generation of Intel Core processors based on a hybrid architecture, is capable of operating at 6GHz at stock settings and that it has set a world overclocking record at 8GHz. The peak of 6 GHz is 300 MHz faster than the 5.7 GHz for AMD’s Ryzen 7000 processors.

Company Size: 7 Offices – 24,000 Employees

Global Revenue: $20.8 bn

Selected Product: EziPay

Mastercard Middle East and Africa (MEA) HQ has been operating out of Dubai since 2001. The company aims to connect and power an inclusive digital economy that benefits everyone, everywhere, by making transactions safe, simple, smart and accessible. Its pledge is to bring 1 billion people and 50 million micro and small businesses into the digital economy by 2025.

Mastercard revenue for the 12 months ending June 30, 2022, was $20.8 billion. Its net income for the 12 months ending June 30, 2022, was $9.7 billion. Mastercard‘s earnings per share for the 12 months ended in June 2022 was $9.87. it employed some 24,000 in 2021.

Mastercard’s EziPay’s digital wallet allows for global transactions with brands and businesses wherever Mastercard is accepted, a service from which customers can benefit even if they do not have a bank account. Mastercard has a key partnership with One Global and i2c which will enable more fintechs and startups across the region to issue digital wallets.

Mastercard is empowering over 35 million migrant workers in the MEA via a collaboration with fintech Sokin enabling them to transfer money cheaply and easily. Mastercard’s PayD card will allow an unbanked labor force to buy goods offline or online or pay utility bills.

Mastercard is bringing crypto to everyday purchases, working with Binance to let people use their cryptos and make purchases at more than 90 million stores that accept Mastercard.

FinTech Mercury is launching a corporate Mastercard to help startups scale their business, with the card offering 1.5 percent cashback without any annual fees or personal credit checks.

Company Size:  37 Offices – 71,979 employees

Global Revenue: $117 bn

Selected Product: Quest 2

In October 2021, Facebook changed its name to Meta to reflect the new direction the company is taking with the metaverse.

In 2021, Meta’s revenue was $117 billion plus, up by more than $31 billion on 2020. Net 2021 income was $39.37 billion, with an earnings per share of $13.77 compared to $10.09 in 2020. Meta employed 71,979 in 2021.

In March 2022, Meta opened its new regional headquarters in Dubai Internet City to serve MENA markets. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, launched the Dubai Metaverse Strategy to create more than 40,000 virtual jobs by 2030.

Meta recently launched the “Creators of Tomorrow” showcase in the EMEA region, celebrating emerging talents and digital creators for video formats, technology and interactive entertainment.

Meta has channeled billions of dollars into virtual reality-powered services. Since buying Oculus eight years ago, Meta has claimed 90 percent of all VR headset sales, according to IDC last June.

The Oculus mobile app has seen over 20 million installations globally.

Meta poured billions more into Reality Labs producing Quest 2, smart glasses, and its video-calling device Portal.

Meta has granted startup virtual reality developers anywhere from $25,000 to more than $1 million, adding more than 400 apps to its Quest store which has surpassed $1 billion in software sales.

Meta is encouraging more engagement from Facebook Groups via a new Community Chat option that facilitates topic-based discussion groups within Messenger.

Meta spends around $5 billion annually on “community integrity” teams responsible for identifying and removing abusive content, and fighting misinformation.

Company Size: 170 Countries – 114,000 Employees

Global Revenue: $198.3 bn

Selected Product: Copilot

Microsoft Gulf FZ LLC has over the past 30 years acted as a regional office out of Dubai for the UAE, Bahrain, Qatar, Oman and Kuwait. It believes technology should be a force for good and that meaningful innovation contributes to a brighter world. Microsoft does business in 170 countries, with over 114,000 employees.

Microsoft annual revenue for 2022 rose to $198.3 billion from $168.1 billion in 2021. Microsoft annual net income for 2022 was $72.7 billion, an 18.72 percent increase over the $61.2 billion net income for 2021.

Microsoft‘s earning per share for the 12 months ended in June 2022 was $9.64.

Microsoft, which produces computer software systems, applications and consumer electronics, showcased over 50 new products and features at its 2022 flagship event “Build” for developers. It displayed a range of tools to assist AI development, including GitHub Copilot, an AI pair programmer offering full-code suggestions.

Its newest solution is Microsoft Cloud for Healthcare, bringing together capabilities from Microsoft Dynamics 365, Microsoft 365 and Microsoft Azure, as well as enabling capabilities to manage health care data at scale.

Microsoft opens its first global datacenter region in Qatar, bringing new opportunities for a cloud-first economy. The new cloud datacenter region launches with Microsoft Azure and Microsoft 365, giving organizations access to hundreds of scalable, highly available and resilient cloud services.

On the sustainability end, Microsoft used 4,477,865 cubic meters of water, equivalent to more than a billion gallons, in its 2021 fiscal year across all operations. It has pledged to be water positive by 2030.

Company Size:  9 Offices – 15,000 Employees

Global Revenue: $8.24 bn

Selected Product: HONOR Magic4 Pro

Qatar’s Ooredoo provides mobile, fixed, broadband internet, corporate managed services, and devices across MENA and Southeast Asia markets.

Employing over 15,000, Ooredoo Group announced revenues of $8.24 billion for FY 2021 with net profits of 12.91 million, covering a customer base exceeding 121 million. Ooredoo’s P/E ratio today is 19.80.

It recently launched its new corporate transformation strategy tagline “Upgrade Your World,” reflecting a future-proof, employee- and customer-centric narrative.

Ooredoo business also unveiled “Shamel Complete,” an integrated solution that allows entrepreneurs and SMEs run their business without the need to hire experts from different fields.

Ooredoo Telecom also introduced its 5G smartphone, the new HONOR Magic4 Pro as part of its premium series.

Ooredoo Kuwait recently launched FIBER+, a new generation of a unique solution (FTTR: Fiber to The Room) to enhance and improve internet coverage in homes and large areas.

Ooredoo Qatar is looking to boost the transport and logistics industries in the country by bundling Aamali Mobile business plans with a competitively priced vehicle tracking solution to simplify operations and increase transport and logistics efficiency. The transport and logistics package offers an Aamali 5G SIM bundled with an Optimum vehicle tracking device and software.

Ooredoo Qatar also said it would provide a discount of up to 90 percent on roaming rates with Ooredoo Passport, a special SIM card aimed at frequent travelers. The Ooredoo Passport provides customers with low roaming prices in over 200 destinations, including more than 100 4G enabled ones.

Company Size: 60+ Countries – 40,000 Employees

Global Revenue: $37 bn

Selected Product: Reno 8 Pro

OPPO is a Chinese consumer electronics manufacturer of smartphones, smart devices, audio devices and more. Oppo has a 21 percent share of China’s market as of Q3 2021, and is now selling in 40 different countries. In H1 2021, OPPO ranked first in 5G global shipments among Android manufacturers.

Hiring almost 40,000, OPPO saw a revenue increase of 47 percent YoY to $37 billion while its average asking price grew 15 percent to reach $259 in 2021.

OPPO launched its new Oppo X 2022 in September 2022, while the Find X5 Pro is OPPO’s flagship line. Oppo’s line-up of Reno 8 Pro is its latest addition.

Regionally, OPPO will build a mobile phone factory in Egypt with investments reaching $20 million, aiming for 4.5 million units in production capacity at start.

OPPO started MEA operations in 2015 from its regional office in Egypt and today has a presence throughout the GCC. In 2019, it inaugurated its country operations in the UAE. On March 15, 2022, OPPO lit up Ain Dubai in celebration of the Reno7 GCC launch.

OPPO is investing heavily in the chip sector. In addition to MariSilicon X, Oppo has also developed a power management chip that it uses for some of its chargers.

OPPO recently announced a major partnership with UEFA across different tournaments including the Champions League, Super Cup and Youth League Finals for the upcoming next two seasons. It will offer football fans the unique opportunity to capture key soccer moments with their smartphones.

OPPO is in its fourth year partnering with Wimbledon and Roland-Garros and a global partner of the International Cricket Council (ICC).

Company Size: 41 Offices- 143,000 Employees

Global Revenue: $42.4 bn

Selected Product: Oracle Analytics Cloud

With 430,000 customers in 175 countries, Oracle technologies is a global provider of business software with a broad portfolio of solutions for companies of all sizes.

Employing over 143,0000, Oracle’s total revenues for fiscal year 2022 edged up 5 percent to $42.4 billion. In its 2022 fiscal year, Oracle reported an annual net income of $6.7 billion.

Oracle 2022 annual earnings per share was $2.41, a 47.03 percent decline from 2021, when it reached $4.55.

Oracle Corp.’s quarterly sales jumped 18 percent buoyed by the software maker’s transition to cloud computing and the acquisition of health records provider Cerner. For the period ending Aug. 31, Oracle earned $1.03 a share, on $11.45 billion in revenue including $8.42 billion from cloud services and license support, which rose 14 percent from a year ago. The total annual cloud revenue for Oracle currently stands at over $11 billion.

Recently, Amana Group, a multinational construction conglomerate, decided to implement Oracle Fusion Cloud Applications Suite to optimize finance and HR processes, respond rapidly to changing market demands and support its growing workforce.

The Abu Dhabi National Marine Dredging Company also selected the Oracle Fusion Cloud Applications Suite to standardize business processes on a single platform.

In 2021, the Emirates Post Group implemented the Oracle Fusion Cloud Applications Suite for finance, supply chain and HR to support its rapid expansion and remote workforce.

Saudi Arabian Mining Company (Ma’aden) also chose Oracle’s Gen 2 Cloud Infrastructure to create an agile, secure and modern IT infrastructure.

Investment firm Guggenheim recently noted that Oracle could become the fourth “hyperscaler” of cloud computing services.

Company Size: 16 Countries – 107,000 Employees

Global Revenue: $33.2 bn

Selected Product: SAP ERP

SAP is the market leader in enterprise application software innovations helping more than 1,350 companies worldwide simplify processes and generate growth opportunities.

Since its establishment in 2007, SAP MENA expanded into 12 regional offices spread across the GCC, Pakistan and Cairo, including a regional Training and Development Institute in Dubai.

Over 1,600 qualified SAP consultants and 120 business partners support the MENA market in 16 countries across the region.

Employing over 107,000, SAP recorded revenues of $33.2 billion for the 12 months ending June 30, 2022. SAP’s annual net income for 2021 was $6.218 billion.

For Q2 2022, a 34 percent cloud-revenue growth rate made SAP one of the world’s fastest-growing major cloud providers, second only to Google Cloud’s 36 percent.

SAP’s earnings per share for the 12 months ended in June 2022 was $3.78.

In June 2022, MEPCO, the largest paper manufacturer in the MEA, deployed SAP solutions to streamline its expanding business processes and increase efficiencies.

For the six-month duration of Expo 2020, SAP provided key support to run the event seamlessly, serving as the backbone for finance, HR and procurement services using SAP Ariba. SAP Customer Checkout supported retail innovation with over 300 retailers processing more than 450,000 daily payments.

SAP House provided an immersive CX area with live demos, hosting 2,500 visitors over 75 events, and garnering more than 80 million social media impressions.

Recently, Deloitte announced five new sustainability offerings built on the SAP enterprise software. ESG strategy, performance & reporting, climate & decarbonization, sustainable supply chains, and financing sustainability combine SAP’s technologies with Deloitte’s expertise across sustainability reporting, performance management, finance transformations, and system implementations.

Company Size: 74 Countries – 287,439 Employees

Global Revenue: $232.4 bn

Selected Product: Galaxy Z Foldable

Samsung is a South Korean multinational manufacturing conglomerate and one of the world’s largest producers of electronic devices. It employed 287,439 people in 2021 when the company generated total revenues of $232.4 billion and $42.9 billion in operating profits. It has current earnings per share of $27.83.

Samsung Electronics recently announced an investment of $5 billion in a comprehensive effort to tackle climate change. It aims to achieve net zero carbon emissions for all operations in the Device eXperience (DX) Division by 2030, and across all global operations by 2050.

Samsung Gulf Electronics inaugurated the newly renovated Samsung store in Deira City Centre in Dubai, in partnership with Jacky’s Retail.

Samsung Electronics recently announced the launch of its fourth generation of Galaxy Z foldable smartphones for the UAE market with prices starting at $1,035 for the Galaxy Z Flip4 (128 GB), and up to $1,975 for the Galaxy Z Fold4 (512 GB) model.

After integrating Snapchat’s AR Lenses into the Galaxy A-series camera app as “Fun Mode,” Fun Mode was used 2.5 billion times from March 15, 2021, to August 22, 2022. This AR mode has since expanded to some Galaxy F and M series models.

Samsung recently pledged to invest $15 billion in semiconductor development over the next six years after the company broke ground on a new $15 million, 100,000-square foot R&D center facility in South Korea. In June, Samsung became the first company to commercialize 3nm chips, the smallest, most efficient production process developed so far.

Company Size: 200 Countries – 377,000 Employees

Global Revenue: $62.3 bn

Selected Product: Xcelerator

Siemens is a technology company focused on industry, infrastructure, transport, and health care, with a diverse portfolio of consumer products ranging from electrical installation systems and home automation to security systems and investment funds.

In fiscal 2021 ended Sept. 30, 2021, Siemens generating revenue of $62.3 billion and net income of $6.7 billion while employing 377,000 worldwide.

Siemens Middle East boasts over 7,000 people. The company powers Abu Dhabi’s Yas Marina Formula One circuit’s race control center, and produces 1.4 billion liters of drinking water for the UAE. It has developed systems for two driverless subway lines in Saudi Arabia and is now helping boost power generation in Egypt by 50 percent to reach 16.4 GW.

Emirates Health Services (EHS) and Siemens Healthineers recently signed an MoU of mutual cooperation with a focus on medical excellence, improving productivity and health care innovation.

Hub71, Abu Dhabi’s global tech ecosystem, partnered with Siemens Energy to advance CleanTech and ClimateTech in Abu Dhabi, supporting tech startups in developing innovative technologies that address global climate change.

Meanwhile, Siemens Smart Infrastructure and Shell signed an MoU to collaborate on developing low-carbon and highly efficient energy solutions that support in areas of biofuels and circular chemistry.

FIA has also announced a new partnership with Siemens’ Xcelerator portfolio to assist its sustainability efforts throughout all of its championships, including Formula 1, to develop vehicles that decrease energy use and emissions.

Siemens, along with German national rail company Deutsche Bahn (DB), is trialing the Mireo Plus H hydrogen train, aiming for the technology to replace diesel-powered trainsets with trains that operate emission-free with green hydrogen, and which only release water vapor.

Company Size: 9 Offices – 19,000 Employees

Global Revenue: $17.28 bn

Selected Product: stc pay

Saudi Telecommunication Company, stc, with a presence in GCC countries, is a pioneering digital enabler of telecom services, ICT solutions and digital services across IT, fintech, digital media, cybersecurity, and more. The Riyadh corporate office employs 19,000 employees.

stc announced revenues for 2021 reaching $17.28 billion, an increase of 7.57 percent compared to 2020. It registered 2021 operating profits of nearly $3.58 billion.

As of Sept. 12, stc had a PE ratio of 7.02.

In August 2022, stc shareholders agreed to increase the company’s capital by 30 billion riyals ($810 million).

stc’s ICT sector is growing and in Saudi Arabia may reach $53 billion in 2025 from the current $33 billion, according to Omer Abdullah Al Nomany, CEO, Solutions by stc.

stc lately announced the installation of its “Saudi Vision Cable,” the first high-speed cable laid in the Red Sea, spanning 1,160,000 meters.

stc recently boosted its 5G network capacity by over 60 percent to become the first operator in MENA to enable 5G Carrier Aggregation technology, initially using 2.3GHz band on more than 1,000 sites, and within a year will link to the main 5G carrier on 3.5GHz.

In May 2022, Prince Mohammed Bin Salman Nonprofit Smart City appointed Solutions by stc to implement a smart city strategy, including Mobility, Sustainability, Security verticals and a Digital Twin.

Solutions by stc received approval to buy a $158 million stake in Egypt’s Giza Systems Co., a company that designs and deploys technology solutions. It had entered into a binding deal for an 89.5 percent stake in Giza Systems.

Company Size: 88 Locations – 21,500 Employees

Global Revenue: $24.1 bn

Selected Product: Visa Contactless

Pioneering electronic payments since 1958, VISA stands for “A better way to pay and be paid,” helping level the playing field for the traditionally underserved. VISA employed 21,500 in 2021, connecting billions of cardholders to millions of merchants, and 15,500 financial institutions and governments in more than 200 countries and territories.

VISA’s annual revenues for 2021 reached $24.1 billion and net income reached $12.1 billion that same year.

VISA’s earnings per share for the 12 months ending June 30, 2022, was $6.06, while in 2021 its annual EPS was $5.04.

VISA has a new 10,000 sq. ft. regional headquarters at Dubai Internet City, which manages operations in 90 countries across the CEMEA. Its Innovation Centre, one of five globally, is where startups and VISA partners can develop and experiment with technologies such as blockchain, VR and AI in order to build innovative payment mechanisms.

The space is also CEMEA’s first VISA University campus, host to training and educational programs for VISA employees, clients and partners.

In August 2022, VISA announced issuing over 4 billion network tokens worldwide, through Visa Token Service, to help secure digital payments.

VISA recently announced the winners of its “She’s Next” grant program in Egypt in partnership with Commercial International Bank (CIB) and USAID. Five Egyptian women-led businesses in Egypt received $10,000 in grants and a year of business coaching to help their enterprises grow and expand. Two of the five winners will participate in the VISA virtual event “She’s Next: Spotlighting Women Entrepreneurs in the Middle East,” featuring female business leaders from the UAE, Saudi Arabia, Egypt and Morocco.

Company Size: 7 Countries  – 7,500 Employees

Global Revenue: $5 bn

Selected Product: Zain 5G

Zain is a leading Kuwaiti mobile voice and data services company operating in seven Middle Eastern and African countries, employing over 7,500, and providing services to over 51 million individual and business customers as of March 2022.

The Group ended 2021 with a customer base of 48.9 million, an annual increase of 2.4 percent, reflecting an addition of 1.2 million customers. For the full-year 2021, Zain Group generated consolidated revenues of $5 billion. It registered a net income of $167 million, and earnings per share of $0.04. Throughout 2021, Zain Group invested $1.1 billion in CAPEX, or 21 percent of revenues.

The Zain brand has been valued at over $2.4 billion. The group’s Q2 2022 net profit reached $165 million on $1.4 billion in revenues. For H1, Zain generated consolidated revenues of $2.7 billion.

Jordan’s Telecommunications Regulatory Commission penned a Sept. 13, 2022 agreement with Zain in preparation for the launch of 5G services, following an investment of around $2.62 billion into infrastructure by the local telecoms sector .

Additionally, Zain KSA and Zain Group partnered with global gaming platform PLAYHERA to launch their new Saudi-based regional esports platform PLAYHERA MENA.

RAYA Customer Experience (RAYA CX) also signed a partnership with Zain KSA to manage its customers’ experience in Saudi.

Zain Cloud, the cloud computing service by Zain KSA, had launched a suite of new cloud computing products and services to support businesses in the kingdom. Services include tie-ups with leading tech companies like Fortinet, Red Hat, Veritas, SpeechLogix, WakeCap and Hikvision.

Company Size: 12 offices – 11,000 Employees

Global Revenue: $697 mn

Selected Product: ‘Zoho for Startups’

With more than 55 apps in nearly every major business category, Zoho is one of the world’s most creative multinational technology companies, employing nearly 11,000 employees. A maker of web-based business tools, it currently has over 80 million users and is renowned for its online Zoho Office Suite. Zoho’s product catalog uses a freemium model to drive usage.

Zoho turned over $697 million in 2021 increasing from $570 million in 2020. It registered a net income of $255.7 million compared to $106.8 million in fiscal 2020.

Zoho recently said it would help Arabic e-commerce companies build their website and cater to an Arabic-speaking audience through its right-to-left (RTL) Arabic-language website builder. Only 1.1 percent of the top 10 million websites use Arabic as their language.

The company announced its integration with Tap Payments, a prominent MENA payment solutions provider to empower businesses in their path towards digital transformation.

Zoho additionally announced it will be launching its ‘Zoho for Startups’ program globally, starting with the Middle East and Africa (MEA) region. It signed an MoU with the Saudi-based Falak Investment Hub to work together to digitally empower youth and startups in Saudi, and support them in their digital transformation journey, starting with a network wallet credit worth $2,500.

Along with its ongoing global expansion, it has investments in automotive, robotics and healthcare technologies. It invested in Silicon Valley-based smart electric utility vehicles and powertrains manufacturer Boson, electric motorcycle company Ultraviolette Automotive, and in Voxelgrids, an Indian startup that builds Magnetic Resonance Imaging (MRI) scanners.