Mobile Telecommunication Company Saudi Arabia (Arabic: شركة الإتصالات المتنقلة السعودية) is a Saudi Arabian telecommunications and digital services company that provides telecom services, 5G network, digital payment services, cloud computing, IoT solutions, fiber services, drones under the brand name Zain KSA (Arabic: "زين السعودية"). It is part of the Zain Group, a Kuwaiti telecommunications company.
 | |
| Company type | Public |
|---|---|
| Tadawul: 7030 | |
| ISIN | SA121053DR18 |
| Founded | 12 March 2008 |
| Headquarters | Granada Business Park, , Saudi Arabia |
Area served | Saudi Arabia |
Key people | |
| Revenue | 9.1 billion Saudi riyal (2022) |
| Total assets | 28,356 million Saudi riyal (2022) |
| Parent | Zain Group (37%) |
| Subsidiaries | Zain Sales Co Ltd.
Tamam Finance Company Zain Drones Ltd. |
| Website | sa |
The company was established in Saudi Arabia in August 2008 and entered the market as the country's third telecom operator after obtaining the necessary telecommunication licenses from the Communications and Information Technology Commission (now known as CST).[1][2][3]
History
editZain KSA was established as a Saudi Joint Stock Company on 12 March 2008.[4]
In October 2016, Zain KSA received a High Order from the Communications and Information Technology Commission (CST), which extended the company's existing 25-year license for an additional 15 years. On February 20, 2017, Zain KSA was also granted a unified license, allowing it to provide all telecommunication services in the Kingdom, including fixed services.[5]
Zain KSA commenced commercial operations in August 2008, following an Initial Public Offering in February 2008.[6]
In September 2011, Zain KSA became the first operator in the Middle East to commercially launch a 4G/LTE network.[7]
In October 2015, HH Prince. Naif bin Sultan bin Mohammed bin Saud Al Kabeer was appointed as the chairman of the board of directors.[8]
In October 2019, Zain KSA launched the third largest 5G network in the world and the largest 5G network in the Middle East, Europe, and Africa at the time.[9]
In April 2018, Eng. Sultan bin Abdulaziz Al-Deghaither was appointed as CEO of the company.[10]
In 2021, Zain Saudi Arabia owned 8,069 communications towers in the Kingdom of Saudi Arabia, valued at 3,026 million Saudi riyals ($807 USD).[11]
Zain Saudi Arabia achieved the highest revenues in its history for the year 2023, amounting to 9.9 billion riyals.[12][13]
CEO Sultan bin Abdulaziz Al-Deghaither passed away on 6 August 2024.[14]
Zain KSA Subsidiaries
edit- Zain Sales Co Ltd.
- Tamam Finance Company (Tamam)
- Zain Drones Ltd.
Companies which Zain KSA Invests in:
- Golden Lattice Investment Company (GLI)
References
edit- ^ "Zain to launch mobile phone services in Saudi Arabia today". Gulf News. 26 August 2008. Retrieved 7 October 2009.
- ^ "Zain Takes One Network to Saudi Arabia". The Monitor (Uganda). 30 September 2008. Retrieved 7 October 2009.
- ^ "Zain delays launch of Saudi mobile services for testing". MEED Middle East Economic Digest. 20 June 2008. Retrieved 7 October 2009.
- ^ "Company Profile Main Market".
- ^ "Zain KSA reaches agreement with Saudi telecom authorities over dispute". Telecom Review. 17 December 2018. Retrieved 19 July 2023.
- ^ "Zain to launch mobile phone services in Saudi Arabia today". www.dubaicityinfo.com. Retrieved 2 October 2016.
- ^ "Zain Saudi Arabia signs LTE Roaming agreement with Telenor". Membership. Retrieved 19 July 2023.
- ^ "Mobile firm Zain Saudi appoints new chairman". Reuters. 22 October 2015. Retrieved 19 July 2023.
- ^ "The Gulf has a 5G conundrum and Open RAN is the key to its tech sovereignty". Middle East Institute. Retrieved 19 July 2023.
- ^ "Zain Assigns Sultan Al Deghaither as CEO". english.aawsat.com. Retrieved 7 August 2024.
- ^ "Mobile Telecommunications Company Saudi Arabia ("Zain KSA") announces the Board of directors' approval of the non-binding offers ("The offers") received from the Public Investment Fund ("PIF"), HRH Prince Saud Bin Fahad, and Sultan Holding Company, to acquire stakes in the Zain KSA towers infrastructure". Saudi Exchange. Archived from the original on 7 September 2021.
- ^ ""زين السعودية" تحقق أعلى إيرادات في تاريخها.. وأرباحها السنوية تفوق التوقعات". alarabiya. Archived from the original on 3 March 2024.
- ^ ""زين السعودية" تحقق أعلى إيرادات في تاريخها خلال عام 2023". SNA Business.
- ^ "وفاة سلطان الدغيثر… رجل الاتصالات الذي انتشل «زين السعودية» من الخسائر محا 533 مليون دولار متراكمة على الشركة .. اخبار عربية". صحافة 24 نت (in Arabic). 6 August 2024. Retrieved 7 August 2024.
External links
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