e& was founded almost 50 years ago and has grown into one of the world’s largest telecommunications providers. Since 2022, the global technology group has embarked on a transformation journey that strengthens its legacy in telecommunications, while pioneering new digital areas.
Today, it is ready to continue consolidating its position as a technological leader. Despite economic challenges, e&’s promising results in the first half of 2012, with consolidated revenues increasing by 6% to AED28.3 billion, underline the effectiveness of its relentless pursuit of technological innovation to deliver value tangible to customers and shareholders.
Hatem Dowidar, CEO of e& Group, attributes e&’s success to his employees.
“The progress we made in the first half of 2024, through acquisitions, partnerships and the expansion of our digital services portfolio, was made possible by a unified team acting as one across 33 countries,” says Dowidar . “We took bold steps and continued to empower people through digital. Our results inspire us to continue striving for excellence, exceeding our goals and setting new industry standards.
Expansion beyond telecommunications
In addition to making significant progress in the telecommunications industry (exceeding a download speed of 13 Gbps at GITEX Global 2023 and record data transfer speeds by reaching the world’s fastest throughput of 30, 5 Gbps on its 5G network live in 2024), e& understands the need to stay on top of the rapid technology cycle. This is especially true for AI.
“While our legacy in telecommunications provides a strong foundation, to stay ahead we must pioneer new digital areas. This allows us to maximize the value of our core business while expanding into new areas such as cloud computing, cybersecurity and IoT solutions, suitable for both businesses and consumers,” says Dowidar.
Key milestones include the launch of the world’s first AI-powered autonomous telecom store, EASE, which transforms customer interactions, as well as the joint venture with industry peers Deutsche Telekom, Singtel, SK Telecom and SoftBank Group to develop a specific telecommunications service. great language model.
But the work has only just begun. e& is investing significantly in AI and machine learning, with plans to integrate these technologies into all layers of its future networks. From devices and access points to the core network, the company strives to create an infrastructure that is intelligent and adaptive, while still capable of delivering cutting-edge services and applications. This integration will enable e& to offer more personalized and efficient services, improving user experience and operational efficiency.
At the same time, e& is expanding its geographic presence. Dowidar highlights the organization’s strategic acquisition of cloud provider GlassHouse, which serves nine of Türkiye’s 10 largest banks. This strengthens e&’s capabilities in cloud computing and data center services while complementing its existing offerings to provide end-to-end digital transformation solutions for businesses. In the future, e& will integrate GlassHouse’s expertise into its broader portfolio for more comprehensive and tailor-made solutions.
On the consumer side, Dowidar explains how e& is rapidly expanding its fintech capabilities. “Right now, our priority is to give every customer, businesses and individuals, the tools and opportunities necessary to access the digital economy,” emphasizes Dowidar.
e& life’s fintech arm, e& money, has established itself as a major player in the UAE’s financial landscape. With over 1.1 million subscribers, it is the most used fintech app in the country, based on monthly active users. Underscoring its regional dominance, e& money saw its international money transfer volume increase six-fold, while expanding its remittance services to over 200 countries.
Careem, known as the all-purpose app serving 74 cities, has been growing payments and remittances at an unprecedented pace. This year, Careem saw digital remittances increase by 283% compared to the previous quarter.
In Pakistan, where 79% of the population does not have access to financial services, e& subsidiary U Bank is working to change this situation. Over the past five years, it has quintupled its loan portfolio, serving more than 400,000 customers through more than 300 branches located primarily in rural areas.
Deepening digitalization and automation
As e& looks at him In the future, by deploying its 2030 strategy and moving from stable turnover to sustained growth, it is committed to further increasing its leadership in emerging technologies. The company is already laying the groundwork for 6G networks offering record speeds and connectivity options, as it seeks to explore the potential of quantum computing to revolutionize data processing and security.
e& showcases the transformative potential of AI in various use cases. By leveraging AI-based solutions, the company has streamlined its financial processes, improved customer experience and optimized energy management. An AI-powered credit scoring system has improved the speed and accuracy of loan approval, thereby driving financial inclusion. Additionally, an AI-powered KYC solution accelerated onboarding and strengthened security, thereby building trust with customers. In its network sites, AI-based smart grid solutions have reduced energy consumption, minimized environmental impact and enabled efficient off-grid power generation.
In the shorter term, however, e& will continue to deepen its services with digitalization and automation, transforming its operations with AI and strengthening responsible AI practices. This continued investment to integrate next-generation technologies and networks, particularly 5G-Advanced, into its core infrastructure will introduce more advanced capabilities to support new use cases. This means faster, more reliable connectivity allowing customers to thrive in today’s increasingly digital world.
“We believe that technology and connectivity are at the epicenter of a hyper-connected world, creating better lives for all and bringing cohesion and trust within society. We aim to play an important role in this digital revolution by spearheading digital transformation and connectivity, to create an inclusive future for all,” concludes Dowidar.
