Omantel has proudly shared their achievements for 2023, which reflect the company’s commitment to innovation, community support, and leadership in the ICT sector in the Sultanate of Oman.
Among the highlights of Omantel’s 2023 journey are the following:
- In terms of financial success, Omantel Group recorded annual revenues of OMR 2.9 billion, of which OMR 606.5 million is from local operations. This domestic revenue growth is mainly driven by wholesale transit voice and device revenues.
- The Group Net Profit, after tax, has also grown by 13.1% to OMR 315.5 million, compared to OMR 278.9 million in 2022.
- The company supported the development of 51 small and medium enterprises by awarding OMR 6 million in 2023, underscoring the company’s role in boosting the local economy.
- Omantel achieved significant expansion with a 20% increase in 5G stations, which aim to provide comprehensive coverage and better quality to subscribers, with 5G network coverage reaching 88% of populated areas.
- The company successfully provided fixed broadband access to more than 92% of Oman’s households, enhancing the quality of life and making it easier for the community to access information and digital services.
- The formation of Zain Omantel International (ZOI), in partnership with Zain Group, marks a strategic expansion, as the new entity is set to become a leading force in the global wholesale telecommunications sector.
- Empowering talents, Omantel paved the way for the employment of over 120 graduates from the Generation Z program since its launch in 2020.
With support from shareholders, loyal customers, executive management and employees in light of the company’s performance in the current market’s challenging situation, “we are confident that Omantel will continue its good performance and will be able to reach new heights of excellence,” said Mulham bin Basheer Al-Jarf, Chairman.
Also Read: Omantel Group Sees 9.7% Revenue Boost and 13.1% Net Profit Growth
Achieving Sustainable, Profitable Growth
As part of Omantel’s strategic telco-to-techco transformation, the company has embarked on several high-profile international partnerships in emerging domains such as AI, cloudification and digital transformation. Their collaborations with Huawei and AWS reiterate this commitment to digital transformation.
Moreover, due to the company’s ambitious diversification strategy that capitalizes on Oman’s unique geographical location, Omantel has become an industry leader and a main wholesale provider serving telecom operators, hyperscalers and content providers locally, regionally and globally.
Additionally, Omantel made investments in over 20 subsea cable systems globally and seven unique subsea cable landing stations connecting to over 120 cities in more than 50 countries. Via a notable partnership, Omantel pioneered the Oman Emirates Gateway (OEG) Telecom Project, whereby together with du, a 275 km submarine cable will link Oman and the UAE. Furthermore, Omantel formed an alliance with China Mobile International (CMI) to drive innovation in the Internet of Things (IoT) and Internet of Vehicles (IoV) sectors across the Middle East.
Additionally, 2023 was a year of strategic advancements and robust growth for Omantel’s ICT and enterprise services, setting a strong foundation for future innovations and continued contributions to Oman’s digital landscape.
“We are proud of our achievements in 2023, reflecting our commitment to leading the telecommunications and technology sector in the Sultanate of Oman. Thank you to my Omantel family for the continuous efforts towards a brighter and more creative future,” said Talal Said Al Mamari, CEO.
