e& announced it has joined the World Economic Forum’s EDISON Alliance. The telecom company is bolstering its commitment to prioritizing digital inclusion towards achieving UN Sustainable Development Goals (SDGs).
Launched in 2021, the EDISON Alliance is a global initiative launched by the World Economic Forum that seeks to improve the lives of millions of people through affordable access to digital solutions in healthcare, finance, and education.
The EDISON Alliance recently announced the UAE as partner in its Lighthouse Countries Network.
e& has pledged to improve the lives of 30 million individuals through enhanced network access, financial services, and technology education by 2025.
Hatem Dowidar, Group CEO of e&, has been appointed as one of the Champions of the Alliance.
He said, “Central to our values is bridging the gap for those currently missing out on internet opportunities. By championing digital inclusion, we aim to uplift individuals and communities, subsequently fueling global economic growth.”
He added: “Our focus will be on addressing the critical challenges of affordability, accessibility, and usability, in collaboration with the public and private sectors.”
The EDISON Alliance’s ambitious goal is to provide affordable access to digital services to 1 billion people by 2025. It is half way towards that goal. To date, the Alliance has positively impacted the lives of 454 million people through 250 initiatives in 90 countries.
By becoming a member of the alliance, e& will be the first technology player headquartered in MENA to join the global platform.
e& recently announced its consolidated financial results for H1 2023. It said it has signed a binding agreement with PPF Group to acquire a 51 percent controlling stake in PPF Telecom Group’s assets in Bulgaria, Hungary, Serbia, and Slovakia. PPF Telecom is the telecommunications division of PPF.
e&’s consolidated revenues reached $7.24 billion (Dh. 26.6 billion) for H1 2023, a year-on-year increase of 1.1 percent. Consolidated net profit recorded Dh. 4.7 billion while consolidated EBITDA reached AED 12.8 billion, resulting in an EBITDA margin of 48 percent.
In the UAE, etisalat by e& recorded 13.9 million subscribers — an increase of 5.1 percent over a year earlier. The group’s aggregate subscribers reached 165 million, a year-on-year increase of 3.1 percent.
Completion of 5G advanced
etisalat by e& announced the successful completion of the “5G-Advanced” trial project under the leadership of the Telecommunications and Digital Government Regulatory Authority (TDRA).
etisalat by e& has achieved 10Gbps throughput on the 6GHz band, a significant milestone that positions the UAE at the forefront of 5G-Advanced network capabilities.
The trial focused on unlocking the full potential of the 6GHz frequency range and utilizing the 400 MHz bandwidth to achieve an unparalleled 10Gbps speed while enhancing the user experience.