Page 35 - SAMENA Trends - May-June 2022

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

stc's CEO Maziad Alharbi Awarded Top CEO for the

Year 2022 in the Kuwait’s Telecom & Tech Sector

in its relationship with the investors and
investment community incorporating
the industry’s global best practices and
ensuring to maintain the highest level of
transparency with the current and potential
investors. With the executive management
led by Alharbi, stc has achieved numerous
milestones, introduced new concepts to
market, and strengthened its role as a
pioneer enabling digital transformation
in Kuwait that was reflected in the
various prestigious awards that stc has
received in recognition of its initiatives
and smart investments. And in 2021, stc
has launched the latest FULL 5G upgrade
exclusively for the first time in Kuwait and
the MENA region, through SA autonomous
communication technology, to upgrade the
5G networks to a new level of exceptional
speeds and improved coverage. Another
milestone included obtaining the approval
from the Communication and Information
Technology Regulatory Authority (CITRA)
to launch the first-of-its-kind mobile virtual
network operator (MVNO) license to
Kuwait Telecommunications Company – school for global entrepreneurship and launch Virgin Mobile Kuwait in partnership
stc, a world-class digital leader providing supervised by the accounting firm KPMG. with Virgin Mobile Middle East & Africa.
innovative services and platforms Alharbi was awarded the Top CEO in Through this license, Virgin Mobile Kuwait
to customers, enabling the digital Kuwait for the year 2022 and shortlisted will be able to operate using stc’s network,
transformation in Kuwait, announced that alongside the top 10 CEOs within the with stc acting as a Host Facilities Based
engineer Maziad Alharbi, stc CEO, was Telecom & Tech sector in the Gulf region, Provider “FBP” with Virgin Mobile Kuwait,
selected as the TOP CEO in Kuwait within considering stc’s exceptional financial offering prepaid plans to users, which
the Telecom & Tech Sector during Top CEO and operational performance during 2021 makes it the first company to provide a
Awards and conference for the year 2022 where stc’s total revenue grew by 4.6% and virtual telecommunications service in
and honored among the Top CEOs in the the net profit increased by 40% in 2021. the country. Towards the end of 2021, stc
GCC. The TOP CEO Awards and Conference The results of 2021 were exceptional due announced signing a binding agreement
was held in Dubai on May 18th where the to the company’s advanced strategy and to fully acquire e-portal Holding Company
top 100 CEOs in the GCC were selected the dedication of its employees to deliver and its subsidiaries that was completely
from different sectors. Alharbi was selected their best in order to achieve the company’s acquired in April 2022. This acquisition
among more than 700 CEO’s of listed desired goals, meet the individuals and of e-portal, one of the most prominent
companies in the GCC Stock Markets. He enterprise customers’ needs, as well as to ICT companies, would enhance stc’s
was honored alongside the top 10 CEOs in create an added value and achieve better internal ICT capabilities to cope with the
each of the 10 different business sectors returns for its shareholders. In this regard, recent rapid global changes. This comes
in the region who have contributed to the the digital transformation strategy that in line with the company’s corporate
profitability and tremendous growth of their was developed and implemented by stc, strategy that focuses on expanding its
companies, in addition to the transparent with the support and leadership of stc CEO activities and shifting from the traditional
communications with the investment Maziad Alharbi, over the past few years has telecommunication services to the digital
community and have demonstrated also been a key success factor that helped services as well as the advanced integrated
outstanding corporate governance over the company in its many contributions to communications information solutions and
the past year. The awards were based the local economy, government initiatives advanced technical solutions, which saw
on guidelines developed by the Dubai- and the growing demand for digital stc acquiring Qualitynet back in 2019, now
based Institute for Corporate Governance solutions and information technology. rebranded as solutions by stc.
in collaboration with INSEAD business In addition to this, stc plays a pivotal role
35 MAY-JUNE 2022