Page 14 - SAMENA Trends - January 2022

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

MEMBERS NEWS

Forbes: stc, The First in The MEA While Advancing
a 7th Position Globally For 2022, With a Brand
Growth Of 16%

stc ranked first among the communica- the recent achievements performed by the and strategy in investing in various fields,
tions and information technology com- company, especially after its successful including the financial technology “Fin-
panies as per the MENA classification secondary public offering of its 100.2 mil- tech” after stcpay obtained its license as a
of Forbes magazine, with its brand val- lion shares, which represented 5.01% of its bank Digital, from the Central Bank of Sau-
ue growth by 16% year-on-year to reach shares by the Public Investment Fund. The di Arabia (SAMA). stc has also established
$10.6 billion. The Saudi digital enabler stc offering represented a significant achieve- the largest data center project in the region
also advanced 7 positions globally to rank ment for stc as a joint stock company, as it with an area of more than 180,000 square
184th Most Valuable Brands in the Middle led to enhancing the liquidity of its shares, meters during the third phase with 16 data
East and Africa for 2022. This global pro- making it accessible to a larger group of centers, which included 17,000 storage
gressive ranking came in as a conclusion of investors, and diversifying its investments units, serving 8 sites distributed over 6 cit-
ies. stc Group’s achievement reflects the
affirmation of the success of its strategy,
by focusing on providing a distinguished
customer experience and a pioneering
market growth. It was also able to main-
tain its leadership and enhance its brand’s
strength in the Kingdom and the region,
based on its several unconventional paths
enriching the experience of its customers,
with digital solutions and services, as it did
during 2021. This ranking came after the
Brand Finance brand classification that
was recently issued, which topped stc as
the most valuable brands in the telecom
and digital sector and ranked it as the
strongest in the Middle East for the sec-
ond year in a row, with a 32% growth in
brand value since the rebranding in 2019.

stc Announces Its Accession to the UN Global Compact

stc’s announcement of its accession to businesses by aligning its strategies the continuity of business management
the UN Global Compact aims to encourage and operational processes with global using the most sustainable methods. stc’s
companies around the world to adopt principles including human rights, labor, sustainable strategy, identified 9 goals that
sustainability and social responsibility, to environment and anti-corruption. This will were effective in implementing a deeper
be one of the local networks of the UN Global take place by taking strategic actions to level of conformity of its action strategy
Compact worldwide. stc’s accession to the enforce broader societal goals like those with sustainable development goals of
UN Global Compact emphasizes of the of the UN sustainable development while global compatible priority including health,
sustainability strategy that stc adopts in focusing on cooperation and innovation, education, decent work, climate action
all its businesses, to be one of the leading in addition to creating a local network and and others. These goals were effectively
global companies that support the global a platform for discussion and exchange achieved due to integrating the mentioned
movement towards a more sustainable of information regarding the UN Global social, economic and environmental
future for the benefit of stakeholders in Compact. This is the outcome of the goals with stc’s administrative systems,
achieving the SDGs, and the success of stc’s commitment to sustainability in its actions and strategy management
the companies’ future plans on the long comprehensive and applying responsible so it can contribute positively to
run. The UN Global Compact operates business practices since it established a ensuring a positive future for all.
under a principles-based framework for sustainability program in 2019 to ensure

14 JANUARY 2022