Page 63 - SAMENA Trends - Oct-Nov 2023

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REGIONAL NEWS

Saudi Arabia Leads Global Discussion on Space Economy and Sustainability

As a leader of the international efforts Commission (CST), revealed investment startups entered Space market within the
in harnessing Space services and opportunities that will make Saudi Arabia last ten years, with an investment value of
sustainability to serve humanity, Saudi an enabler for Space technologies, with more than $40 billion, as the global Space
Arabia organized the “Future of the Space Space market value reaching more than economy is expected to reach $700B to
Economy” session on the sidelines of the $400 million and is expected to grow to $1 trillion in the coming years. In 2022,
World Radiocommunication Conference increase by 87% in the future. H.E. Altamimi Space sector witnessed the largest number
“WRC23”, with the presence of international indicated that the new Space era is no more of satellites launching, with an average
Space economy leaders from the public and limited to few countries and organizations, of 50 satellites launched per week. H.E.
private sector. During the session H.E. Dr. but it became a dynamic, inclusive and Altamimi also highlighted Saudi Arabia’s
Mohammed Altamimi, the Governor of the rapidly evolving market. More than 90 efforts in promoting Space sustainability,
Communications, Space and Technology countries invested in Space, and over 840 raising the Space sector's contribution to
the global economy through public-private
partnerships, and building its capabilities
in satellite manufacturing by owning
infrastructures and space-launching
capability for Space exploration. Saudi
Arabia focuses on building national cadres,
encouraging entrepreneurs, supporting
startups and enabling investment through
an innovative regulatory environment. It
also relies on the development programs
such as the Space Entrepreneurship
Alliance, the Human Spaceflight Program,
and the Space Accelerator program to
achieve its goals.

MTN On-Track for Afghan Exit as Talks on Other Sales Continue

MTN Group used its Q3 update to highlight
ongoing efforts to complete a number
of deals, with the company expecting to
be out of Afghanistan by the end of the
year and targeting rapid progress towards
finalizing a fintech investment from
Mastercard. The operator cited completing
the Mastercard investment as a focus for
the current quarter. It also expects to finally
exit Afghanistan in the next two months,
with that process currently with regulators.
MTN added it remains in discussions over
the “potential orderly exit of three of our
smaller operations in West Africa”, with
its units in Guinea-Bissau, Guinea-Conakry rates remained volatile, especially in a network resilience program designed to
and Liberia on the block. CEO Ralph Mupita Nigeria where “naira devaluation had a mitigate this. MTN does not provide net
pointed to signs inflation was easing across material impact”. In its home market of profit figures for Q3, but booked revenue
several of its markets during Q3, including South Africa, Mupita said there had been including the impact of hyperinflation of
in South Africa, Ghana and Uganda. continued issues with power outages, ZAR50.9 billon ($2.8 billion), down from
However, he noted foreign exchange though reported “significant progress” in ZAR53.5 billion in Q3 2022.
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