e& was founded almost 50 years ago and grew into one of the largest telecom providers in the world. Since 2022, the global technology group has been on a transformation journey that strengthens its telecom legacy while pioneering new digital domains.
Today, it is ready to further strengthen its position as a technology leader. Despite economic headwinds, e&’s promising H124 results – with consolidated revenue up 6% to AED 28.3 billion – underline the effectiveness of its relentless pursuit of technological innovation to deliver tangible value to customers and shareholders.
Hatem Dowidar, Group CEO of e&, attributes e&’s success to its people.
“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,” said Dowidar. “We have taken bold steps and continued to digitally empower people. Our results inspire us to continue to strive for excellence, exceed targets and set new standards for the industry.”
Going beyond telecom
In addition to making significant progress within the telecom sector – from surpassing a download speed of 13 Gbps at GITEX Global 2023 to record-breaking data transfer speeds by achieving the world’s fastest speed of 30.5 Gbps on its live 5G network in 2024 – e& understands the need to stay abreast of the rapid technology cycle. This is especially true for AI.
“While our telecom heritage serves as a solid foundation, staying ahead requires us to pioneer new digital domains. This allows us to maximize value in our core businesses while expanding into new areas such as cloud computing, cybersecurity and IoT solutions, tailored to both businesses and consumers,” Dowidar explains.
Among the key milestones is the launch of the world’s first AI-powered autonomous telecom store EASE, which transforms customer interactions, as well as the joint venture with peers Deutsche Telekom, Singtel, SK Telecom and SoftBank Group to create a telecom-specific store to develop. 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, yet capable of delivering advanced services and applications. This integration will enable e& to offer more personalized and efficient services, ultimately improving user experiences and operational efficiency.
At the same time, e& is expanding its geographic footprint. Dowidar highlights the organization’s strategic acquisition of cloud provider GlassHouse, which serves nine of the ten largest banks in Turkey. This strengthens e&’s capabilities in cloud computing and data center services while complementing its existing offering to deliver end-to-end digital transformation solutions for enterprises. In the future, e& will integrate GlassHouse’s expertise into its broader portfolio for more comprehensive, customized solutions.
On the consumer side, Dowidar shares how e& is rapidly expanding its fintech capabilities. “Right now, our priority is to provide every customer – companies and individuals – with the necessary tools and opportunities to access the digital economy,” Dowidar emphasizes.
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 country’s most used fintech app, based on monthly active users. Underscoring its regional dominance, e& money has seen a staggering sixfold increase in the volume of international money transfers, in addition to expanding its money transfer services to more than 200 countries.
Careem – known as the everything app serving 74 cities – has increased payments and remittances at an unprecedented pace. This year, Careem has seen digital money transfers increase by 283% compared to the previous quarter.
In Pakistan, where 79% of the population does not have access to financial services, e&’s subsidiary, U Bank, is trying to change this. In the past five years, the loan portfolio has increased fivefold and more than 400,000 credit customers are served through more than 300 branches, mainly in rural areas.
Deepening digitalization and automation
What e& looks like Going forward, by rolling out its 2030 strategy and moving from topline stability to sustainable growth, it is committed to further expanding its leadership in emerging technologies. The company is already laying the foundation for 6G networks for record speeds and connectivity options, as it looks to explore the potential of quantum computing to revolutionize data processing and security.
e& demonstrates the transformative potential of AI in various use cases. By using AI-driven solutions, the company has streamlined financial processes, improved customer experience and optimized energy management. An AI-powered credit scoring system has improved the speed and accuracy of loan approvals, promoting financial inclusion. Additionally, an AI-powered KYC solution has accelerated onboarding and strengthened security, building customer trust. At its network locations, AI-driven smart grid solutions have reduced energy consumption, minimized environmental impact and enabled efficient off-grid energy generation.
In the shorter term, however, e& will continue to deepen its services with digitalization and automation, transforming its operations through AI, and strengthening responsible AI practices. This continued investment in bringing next-generation technologies and networks, especially 5G-Advanced, into the core infrastructure will introduce more advanced capabilities to support new use cases. This means faster and more reliable connectivity that helps customers thrive in today’s increasingly digital world.
“We believe that technology and connectivity are at the epicenter of a hyper-connected world, creating a better life for all and bringing cohesion and trust to society. We want to play an important role in this digital revolution by leading digital transformation and connectivity – to achieve an inclusive future for all,” concludes Dowidar.
