Oman Telecommunications Company Group (MSX: OTEL) reported significant growth for the nine months ended September 2023, net profit increasing 28.7% from RO 195 Mn to RO 251 Mn at the end of September 2023. Group revenue grew 10.6% from RO 1981.5 Mn to RO 2192.5 Mn at the end of September 2023.Omantel's domestic operations performanceAt the level of domestic operations, Omantel's revenues grew by 8.2% to reach R.O 458.1 million, compared to the corresponding period. Revenue growth is mainly coming from wholesale transit voice revenue which increased by RO 17 Mn and device revenue which increased by RO 10.9 Mn. Growth in retail revenue is contributed by Mobile Postpaid revenue which increased by 11.4% and Fixed Broadband revenues which increased by 4.4%.Net Profit for the nine months ended September 2023 stands at RO 54.7 Mn compared to RO 54.9 Mn in the previous period. Inspite of the aggressive competition in both Mobile and Fixed segments net profit is maintained at similar levels compared to last year on account of sustainable revenue growth in Postpaid Mobile revenue, fixed broadband revenue and reduction in finance cost and Tax expense.   Zain Group Performance:Zain Group, a subsidiary of Omantel Group, announced its financial results yesterday, reporting a growth of 11% in its revenues, to reach US$ 4.6 billion, while net profit rose by 13% to reach US$ 561 million, compared to the corresponding period in 2022.

Muscat: Omantel, the leading provider of integrated telecommunication services in the Sultanate of Oman, was recently declared the winner of the Lead Award: SAMENA Telecom Award for Best 5G Adoption at a ceremony held in Dubai last week.The award was in recognition of Omantel’s outstanding success in adopting and rapidly extending the 5G network, since the launch of the advanced technology in the Sultanate at the end of 2019. Omantel's 5G network now accounts for more than 68.18% of total wireless traffic and 88.03% of total fixed wireless access traffic – making it the only operator in Oman to achieve these figures in 5G deployment and among the best 5G operators in the region.Talal Al Mamari, CEO of Omantel, said, "We are honored to receive this prestigious award from the largest professional association of the telecom sector in the MENA region. Our growth was driven by our partnerships with government institutions and private sector companies, with Omantel providing them with modern systems and technologies such as 5G, in addition to smartphone applications, smart surveillance systems, and the Internet of Things. We also provide smart city services and mobile communications solutions. All these are part of our strategy to boost digital transformation in the Sultanate and contribute to realizing the goals of Oman Vision 2040.” "The robustness of Omantel's ecosystem -- ranging from wide area networks, international connectivity and data centers to cloud computing -- is unparalleled in the region, consolidating our position as a leading company not only locally, but also regionally and internationally.  We are excited to offer solutions in new areas covering smart public infrastructure, smart building management solutions, digital banking, healthcare infrastructure, high-performance computing, artificial intelligence solutions, machine learning, big data analysis, deep learning, and smart contracts."Omantel seeks to reimagine the future and with the tremendous transformation underway, Omantel is leveraging the unlimited benefits of 5G technology to empower organizations to develop their business models and launch new solutions in the market. Also, Omantel is working with diverse business sectors and partners to expand the scope of digital transformation in the Sultanate. The most prominent of these initiatives is Omantel's collaboration with Hutchison Ports Sohar and Huawei to launch a number of smart port management services, the first of its kind in the Middle East, in addition to its collaboration with Huawei and Oman Oil Marketing Company to successfully launch the first smart fifth-generation outlet in the Sultanate of Oman.Omantel has succeeded, through the integration of its operations, processes, and extensive expertise in the field of communications and digital technology, in establishing its position as a leading telecommunications company within the Sultanate of Oman and beyond. The company's innovative approaches have contributed to providing the latest solutions to various consumer and business sectors. The company aims to deliver an unparalleled, exceptional experience to its subscribers and strives to always exceed their expectations. Omantel works towards contributing to the achievement of Oman Vision 2040 objectives by investing in emerging technologies and providing cutting-edge solutions in modern technology, information and communications technology, such as cloud solutions, ICT solutions, AI, Smart solutions, cybersecurity, and much more, in addition to harnessing its technological capabilities to enhance innovation and leadership in new and advanced technologies.

 Omantel Innovation Labs welcomed a distinguished gathering of investors and entities from Sultanate of Oman and the region to its headquarters, for an inspiring showcase of entrepreneurial talent at the Cohort 2 Demo Day. This event featured nine dynamic startups hailing from various programs, including the Omantel Accelerator, CBO Fintech Accelerator powered by Omantel, and the in-house program "Fikra" designed exclusively for Omantel employees.The Demo Day was a testament to Omantel Innovation Labs' commitment to nurturing innovation, fostering connections, and accelerating the growth of promising startups. It provided a unique platform for these emerging companies to present their cutting-edge products, services, and solutions to an audience eager to embrace innovation and explore collaboration opportunities.The nine startups participating in the Demo Day represented a diverse range of industries and solutions, reflecting the vibrant landscape of innovation in Oman. Attendees had the privilege of witnessing the following startups in action:1. "iON" - A social commerce platform empowering sellers to post products and services on social media, leading to higher conversion rates.2. "Serb" - A global leader in drone management solutions, offering a cutting-edge UTM platform that enhances the safety and efficiency of drone operations.3. "Touchpoynts" - A provider of smart retail technology solutions that elevate customer experience and foster customer loyalty.4. "Sayyad" - A comprehensive online marketplace dedicated to the fishing industry, connecting sellers and buyers across Oman.5. "ZabonEx" - An ML-powered dynamic distribution and sales prediction platform assisting FMCG manufacturers and retailers in reducing food waste and optimizing stock management.Moreover, startups from the CBO Fintech Accelerator powered by Omantel also took the stage, presenting their innovative solutions:6. "Hal Capital" - A Sharia-compliant embedded fintech platform offering alternative financing solutions to MSMEs and individuals.7. "TasHeel" - Introducing "Travel Now, Pay Later" services in Oman, making travel more affordable for individuals and businesses alike.8. "Wadiaa" - An Omani fintech company engaged in crowd-investing activities, focusing on equity crowdfunding for startups and loan-based financing for SMEs.9. "Zumr" - Simplifying traditional saving circles (Jameeayt) through a convenient and accessible online platform.These startups presented innovative solutions poised to make a significant impact in their respective fields, showcasing the immense talent and potential within Oman's entrepreneurial ecosystem.The event featured engaging presentations, lively discussions, and networking opportunities, allowing startups to connect with investors, partners, and mentors who can play a pivotal role in their growth journey. The Cohort 2 Demo Day marks a significant milestone in Omantel Innovation Labs' mission to support and elevate startups, providing them with the resources and exposure needed to thrive in today's competitive business landscape.Speaking about the event, HH Ghada Al Said, Senior Manager at Omantel Innovation Labs, said, "We are thrilled with the success of the Cohort 2 Demo Day and the tremendous progress we’ve seen in our startups. Omantel Innovation Labs remains committed to nurturing innovation and fostering collaboration between startups, investors, and partners to drive the growth of Oman's entrepreneurial ecosystem. Through our experiences, we are continually enhancing how Omantel works with startups, and we are discovering, more and more, how we can truly take on the role of a catalyst for incredible founders, with amazing solutions, to help them realize their potential faster.”

Muscat: Omantel, the leading provider of integrated telecommunications services in the Sultanate of Oman, has announced its support for the North Al Batinah Entrepreneurship Award. This sponsorship reflects the company's commitment to fostering entrepreneurship and contributing to the economic development of Oman.Recognizing the vital role of entrepreneurship in national economic growth, Omantel aims to encourage creativity, innovation and growth of small and medium enterprises (SMEs) while fostering healthy competition and development opportunities.This initiative aims to create a comprehensive environment and operational framework for entrepreneurship in the North Al Batinah Governorate in collaboration with relevant stakeholders.Saeed bin Hamad Al Maawali, General Manager of Omantel in the governorates of Al Batinah, Musandam, Al Buraimi, and a member of the Award Committee, stated, "Omantel's participation in the North Al Batinah Governorate Entrepreneurship Award underscores our commitment to supporting SMEs and entrepreneurship. As the leading telecommunications company providing integrated services and technical solutions in the Sultanate of Oman, we are dedicated to nurturing emerging companies and entrepreneurs. Omantel continuously strives to equip the business organizations with cutting-edge technologies, empowering entrepreneurs to maximize growth opportunities."Al-Mawali emphasized, "The SME sector in the North Al Batinah Governorate is experiencing rapid growth, with communication and technical solutions being integral components of commercial ventures. At Omantel, we are dedicated to delivering innovative solutions tailored to the diverse needs of enterprises, drawing on our extensive experience in supporting SMEs and entrepreneurs. We have been at the forefront of stimulating SMEs through initiatives like the 'Small and Medium Enterprises Excellence Award' project since 2012, and we have forged partnerships with the Small and Medium Enterprises Development Authority to further strengthen this sector."In parallel, Omantel Innovation Labs are actively accelerating emerging technology companies and offering specialized programs in the field of information technology and communications solutions. These programs encompass a wide array of services and facilities. Omantel also extends innovative services and solutions to SMEs, including unlimited internet and calls packages with discounts of up to 50% for selected packages. Additionally, the company provides information and communications technology solutions, such as the Nama package and the GoBiz roaming package.Omantel recently announced that it awarded more than OMR 3 million worth contracts to SMEs during the second quarter of this year, benefiting 17 SMEs. This demonstrates the company's commitment to enhancing collaboration and synergy between the SME Development Authority and Omantel.Omantel has succeeded, through the integration of its operations, processes, and extensive expertise in the field of communications and digital technology, in establishing its position as a leading telecommunications company within the Sultanate of Oman and beyond. The company's innovative approaches have contributed to providing the latest solutions to various consumer and business sectors. The company aims to deliver an unparalleled, exceptional experience to its subscribers and strives to always exceed their expectations. Omantel works towards contributing to the achievement of Oman Vision 2040 objectives by investing in emerging technologies and providing cutting-edge solutions in modern technology, information and communications technology, such as cloud solutions, ICT solutions, AI, Smart solutions, cybersecurity, and much more, in addition to harnessing its technological capabilities to enhance innovation and leadership in new and advanced technologies.