Page 45 - SAMENA Trends - September 2021

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

UAE’s ICT Spending Estimated to Reach US$23 Billion by 2024

Cescent Enterprises CEO Badr Jafar, has
underlined the importance of addressing
global challenges by adopting innovative
investment models conducive to ensur-
ing digital inclusion. He made the remarks
as he participated in the World Econom-
ic Forum EDISON Alliance discussion on
boosting digital inclusion alongside Hans
Vestberg, Chairman and CEO of Verizon
and Chairman of the EDISION Alliance,
Ruth Porat, Senior Vice-President and CFO
of Google, and Dr. Precious Moloi-Mo-
tsepe, Co-Founder and CEO of the Motsepe
Foundation. The discussion, moderated by
Quartz Media Editor-in-Chief Katherine us on whether we really used these tools digital divide through a business lens, con-
Bell, was hosted by the EDISON Alliance, for the collective betterment of humani- sidering the significant and widening digi-
a global movement of private and public ty and our planet." According to a recent tal gap between small and medium-sized
sector Champions committed to prioritiz- report by the Middle East Institute, infor- enterprises (SMEs) and larger business-
ing digital inclusion for the achievement mation and communications technology es. As an EDISON Alliance partner, Cres-
of the United Nations Sustainable Devel- (ICT), the UAE’s ICT spending is estimated cent Enterprises, aims to focus efforts on
opment Goals. The discussion was held to reach $23 billion by 2024. On innova- scaling up the digital capacities of SMEs
against the backdrop of the EDISON Alli- tive investment models needed for digital in the Middle East and North Africa region,
ance 1 Billion Lives Challenge, a challenge inclusion, Jafar highlighted that the busi- in which SMEs account for over 90% of
to improve 1 billion lives globally by 2025 ness case for connecting the unconnect- all businesses and are a major source of
through affordable and accessible digi- ed is inarguable, with an estimated 70% of much-needed job creation and econom-
tal solutions. With an estimated 47% of new value created in the economy over the ic growth. The EDISON Alliance Boosting
people worldwide offline, and the cost of next decade to be based on digitally en- Digital Inclusion panel was held as a part
available broadband exceeding affordabil- abled platforms. Jafar underlined, "Today, of the World Economic Forum’s virtual
ity targets in 50% of developed countries, with trillions of dollars of capital chasing Sustainable Development Impact Sum-
Badr Jafar, an appointed Champion of the yield in a zero interest rate environment, mit 2021. The Summit, hosted in parallel
Edison Alliance, stressed that digital in- long-term stable tariff-based investment with the United Nations General Assembly,
clusion is a means to an end, "Addressing opportunities, like digital infrastructure, convenes global leaders across sectors,
the global challenges that humanity and is super compelling. The questions we disciplines, and geographies to exchange
our habitat faces is of course the ultimate must address is how can we ensure reg- knowledge, innovative approaches, and
goal. Technology is a means to that end, ulatory and investment frameworks are promising ideas to accelerate post-pan-
and it isn’t the agent of change, either. clear, transparent, and compelling enough demic recovery on the road to achieving
We, the connected people, are the true to accelerate this investment?" Jafar also the United Nations Sustainable Develop-
agents of change. And history will judge emphasized the need to also address the ment Goals.

MTN Looking for Buyers for Afghan Business, Reports Say

Johannesburg-based emerging markets about USD49 million, they said. The news believe the group is best served to focus
mobile carrier MTN Group is reportedly agency notes that in unveiling its new in the future on our pan-African strategy.
in talks with potential buyers for its MTN government this week, the Taliban stated We will therefore be exiting the Middle East
Afghanistan wireless unit as it accelerates that investments from China will be key in an orderly manner over the medium
plans to exit the country in the wake of the to helping rebuild an economy devastated term. As a first step we are in advanced
recent takeover by the Taliban. Bloomberg by decades of war. According to discussions to sell our 75% stake in MTN
cites unnamed people with knowledge of TeleGeography’s GlobalComms Database, Syria to TeleInvest, which is the minority
the matter as saying that MTN is in talks in August 2020 the South African carrier shareholder in MTN Syria with a 25%
with several interested parties, although announced its intention to make a strategic holding.’ MTN Afghanistan is the country’s
the negotiations reportedly do not include exit from the Middle East region to focus leading mobile provider by subscribers
any Chinese buyers. A write-down of on the African market. In announcing its with around 2.35 million users and a 27.6%
MTN’s Afghanistan operation without interim financial results for 1H20, it said: market share.
any proceeds from a disposal would cost ‘As part of our ongoing portfolio review, we
45 SEPTEMBER 2021