Page 35 - SAMENA Trends - October-December 2024

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

Zain Group Enters Agreement to Acquire Remaining

70% of IHS Kuwait Limited

Zain Group has entered a definitive aim of our sustainable and independent For Zain Group, FTI Capital Advisors acted
agreement to acquire IHS Holding operating model is to provide passive as exclusive financial advisors; PwC as
Limited’s (NYSE: IHS) 70% interest in IHS infrastructure as a service, supporting the M&A advisors; DLA Piper as international
Kuwait Limited, an independent licensed reduction of MENA’s carbon footprint and legal counsel and GLA & Company as local
Tower Company that owns 1,675 sites empowering the region’s digital future.” legal counsel.
and manages an additional approximate
700 sites in Kuwait. Under the terms
of the transaction, Zain has agreed to
increase its 30% ownership of IHS Kuwait
Limited to 100%, at an equity value for the
remaining 70% stake of US$134 million.
IHS Kuwait Limited will continue to provide
independent tower infrastructure services
within the Kuwait market. The transaction
is subject to customary closing conditions,
including government and regulatory
approvals. Commenting on the transaction,
Bader Al Kharafi, Zain Vice-Chairman
and Group CEO said, “This agreement
will enhance Zain’s Digital Infrastructure
regional expansion strategy in creating
capital efficiencies and driving shareholder
value. It will also complement our ground-
breaking deal with Ooredoo to acquire and
merge approximately 30,000 towers. The

Zain Group’s Ground-Breaking Efforts in ICT, Fintech and Digital Services
Earn Three Awards at the SAMENA Council Endorsed MEA Business
Achievement Awards

Zain Group was recently presented for businesses across the Middle East needs of Saudi customers. Tamam
with three distinguished awards at and beyond. This partnership leverages provides individuals with the opportunity
the prestigious SAMENA Council- ZainTECH's extensive regional expertise to receive Shariah compliant loans without
endorsed MEA Business Magazine in implementing compliant cloud physically visiting a bank location. The
Technology Achievement Awards 2024, infrastructures with DATANUUM's cutting- platform’s end-to-end application and
as part of a multi-sector recognition edge platform, to address the growing award process takes just minutes from
awards program aimed at highlighting need for data privacy and regulatory the time of downloading the app to the
significant technology achievements compliance in the region. This will appeal loan amount being paid out. Loans are
in the ICT industry held during GITEX to businesses looking for robust solutions provided to Saudi nationals and residents,
GLOBAL 2024. The first award was in the to handle data securely while optimizing without the requirement of a salary
category of “Innovative Collaborations customer relationships, engagement and transfer or guarantor. The third award
and Partnerships” in acknowledgement of marketing spend. The second award was was in the category of “Data Platforms”
the launch of the strategic go-to-market in the “Financial Technology” category recognized Zain’s groupwide API platform
agreement ZainTECH and Datanuum, a saw TAMAM, Zain’s fintech in Saudi DIZLEE for “Exceptional Products and
comprehensive customer data enrichment, Arabia recognized for “Outstanding Sector Services’. As a dynamic API Platform
engagement and retention platform for Leadership and Growth Achievements”. and digital monetization ecosystem,
retailers and healthcare businesses. This Tamam is revolutionizing the consumer DIZLEE offers innovative entertainment
collaboration aims to provide innovative finance landscape in the Kingdom, and gaming solutions, direct operator
solutions that enhance customer data providing personalized, data-driven billing, messaging, digital authentication.
driven growth and retention capabilities financial solutions that cater to the evolving By exposing its APIs through the Dizlee

35 OCT-DEC 2024