e& was founded nearly 50 years ago and became one of the largest telecom providers in the world. Since 2022, the global technology group has been on a transformation journey that reinforces its telecom’s legacy, while pioneering new digital realms.
Today, it is poised to continue cementing its position as a technology leader. Despite economic headwinds, e&’s promising H124 results—with a consolidated revenue increase of 6% to AED 28.3 billion—underscore the effectiveness of its relentless pursuit of technological innovation to deliver tangible value to customers and shareholders.
Hatem Dowidar, Group CEO of e&, attributes e&’s success to its people.
“The progress we made in the first half of 2024, driven by acquisitions, partnerships, and the expansion of our digital services portfolio, was made possible by a unified team acting as one across 33 countries,” says Dowidar. “We have taken bold steps and continued to digitally empower people. Our results inspire us to continue striving for excellence, surpassing goals, and setting new industry standards.”
Expanding beyond telecom
Apart from making significant strides within the telecom industry—from surpassing a download speed of 13 Gbps at GITEX Global 2023 to record breaking data transfer speeds by achieving the world’s fastest rate of 30.5 Gbps on its live 5G network in 2024—e& understands the need to stay abreast of the rapid technology cycle. This is particularly so for AI.
“While our legacy in telecom serves as a solid foundation, staying ahead requires us to pioneer new digital realms. This allows us to maximize value in our core business while expanding into new areas such as cloud computing, cybersecurity, and IoT solutions, tailored to both businesses and consumers,” explains Dowidar.
Among its key milestones is the launch of the world’s first AI-powered autonomous telecom store EASE, which transforms customer interactions, as well as the joint venture with industry peers Deutsche Telekom, Singtel, SK Telecom, and SoftBank Group to develop a telecom-specific large language model.
But the work has just begun. e& is significantly investing in AI and machine learning, with plans to integrate these technologies across all layers of its future networks. From devices and access points to the core network, the company strives to create an infrastructure that is intelligent and adaptive, yet capable of delivering cutting-edge services and applications. This integration will allow e& to offer more personalized and efficient services, ultimately enhancing user experiences and operational efficiencies.
At the same time, e& is expanding its geographic footprint. Dowidar highlights the organization’s strategic acquisition of cloud provider GlassHouse, which serves nine of the top 10 banks in Turkey. This bolsters e&’s capabilities in cloud computing and data center services while complementing its existing offerings to deliver end-to-end digital transformation solutions for enterprises. Moving forward, e& will integrate GlassHouse’s expertise into its broader portfolio for more comprehensive, tailored solutions.
On the consumer end, Dowidar shares how e& is rapidly expanding its fintech capabilities. “Right now, our priority is to empower every customer—businesses and individuals—with the necessary tools and opportunities to access the digital economy,” stresses Dowidar.
e& life’s fintech arm, e& money, has established itself as a major player in the UAE’s financial landscape. With over 1.1 million subscribers, it is the country’s most-used fintech app based on monthly active users. Highlighting its regional dominance, e& money has seen a staggering six-fold increase in international money transfer volume, alongside expanding its remittance services to over 200 countries.
Careem—known as the everything app serving 74 cities—has increased payments and remittances at an unprecedented pace. This year, Careem has seen digital remittances rise by 283% compared with the previous quarter.
In Pakistan, where 79% of the population lacks access to financial services, e&’s subsidiary, U Bank, is working to change this. In the past five years, it has grown its loan portfolio by five times, serving more than 400,000 loan clients through more than 300 branches in mostly rural areas.
Deepening digitization and automation
As e& looks ahead, unrolling its 2030 strategy and transitioning from topline stability to sustained growth, it is committed to further expanding its leadership in emerging technologies. The company is already laying the groundwork for 6G networks for record speeds and connectivity options as it seeks to explore the potential of quantum computing for revolutionizing data processing and security.
e& is showcasing the transformative potential of AI across various use cases. By leveraging AI-driven solutions, the company has streamlined financial processes, enhanced customer experience, and optimized energy management. An AI-powered credit scoring system has improved loan approval speed and accuracy, promoting financial inclusion. Additionally, an AI-powered KYC solution has expedited onboarding and strengthened security, building trust with customers. In its network sites, AI-driven smart grid solutions have reduced energy consumption, minimized environmental impact, and enabled efficient off-grid power generation.
In the shorter term, however, e& will continue to deepen its services with digitization and automation, by transforming its operations through AI, and strengthening responsible AI practices. This continuous investment in bringing next-generation technologies and networks, particularly 5G-Advanced, into its core infrastructure will introduce more advanced capabilities to support new use cases. This means faster and more reliable connectivity for customers to thrive in today’s increasingly digital world.
“We believe technology and connectivity are at the epicenter of a hyper-connected world, creating a better life for all and bringing cohesion and trust within society. We aim to play a significant role in this digital revolution by spearheading digital transformation and connectivity—to drive an inclusive future for all,” concludes Dowidar.
