Hatem Dowidar, group chief executive of e&, at Gitex Global in Dubai. Leslie Pableo / The National
Hatem Dowidar, group chief executive of e&, at Gitex Global in Dubai. Leslie Pableo / The National
Hatem Dowidar, group chief executive of e&, at Gitex Global in Dubai. Leslie Pableo / The National
Hatem Dowidar, group chief executive of e&, at Gitex Global in Dubai. Leslie Pableo / The National

UAE's e& considers buying telecoms companies overseas to boost revenue


Alvin R Cabral
  • English
  • Arabic

The UAE’s biggest telecoms operator e& is considering acquisitions of telecoms companies abroad to broaden its revenue base and is keen on buying businesses that complement and add value to its consumer business, its group chief executive said.

The Abu Dhabi-based company, formerly known as Etisalat, is pursuing a two-pronged strategy of expanding its telecoms asset base, and integrating emerging technologies and supporting the rapidly expanding start-up community, Hatem Dowidar told The National in an interview on the sidelines of Gitex Global.

“We're expanding both: in the telco space, which means buying other operators in other markets potentially, and also in the technology space, acquiring companies like Starzplay and elGrocer,” Mr Dowidar said, referring to the two consumer-focused companies that e& bought majority stakes in during the past year.

“We are looking at both sides of the coin. While we are a tech company … part of our activity is telecommunications, so we look at that [type of deals].”

The telecoms industry is going through a major transformation, especially with the advent of new technologies that telecoms operators are trying to integrate into their operations to expand consumer base and add new revenue lines amid intensifying competition.

Telecoms operators with strong balance sheets are increasingly seeking mergers and acquisitions to gain access to new markets and exchange expertise that could open up new markets.

M&A activity in the telecoms sector, however, slowed down in the first half of 2022, dropping by more than half to $41 billion from $88bn a year ago, according to consultancy Bain and Company.

The Europe, Middle East and Africa region accounted for the majority of global transaction value, at about 60 per cent in the first six months of the year, it said.

Etisalat, which in February was rebranded as e&, seeks to transform itself into a global technology investment conglomerate. The company, which currently has operations in 16 countries across the Middle East, Africa and Asia serving more than more than 156 million customers, has expanded abroad and solidified its stakes in overseas markets in recent quarters.

In May, the company acquired about 2.766 billion shares in UK-based Vodafone Group, representing 9.8 per cent of the latter's issued share capital, making e& its largest shareholder.

Last year, e& raised its ownership in Etisalat Investment North Africa (Eina) to 100 per cent, increasing the company's effective ownership in Morocco's Maroc Telecom Group to 53 per cent from 48.4 per cent.

Mr Dowidar did not say which countries or assets are on e&'s radar.

The partnerships and acquisitions the company has made were meant for “future business growth for the benefit of customers and offering long-term sustainable investment opportunities for investors”, he said.

Almost 10 per cent of e&'s revenue, or about Dh5bn ($1.36bn) a year, is being reinvested across the group to improve its networks and add new services, Mr Dowidar said.

He declined to say how much in dry powder e& has kept aside for acquisitions.

The e& pavilion, which features several next-generation technologies, at Gitex Global in Dubai on Friday. Leslie Pableo / The National
The e& pavilion, which features several next-generation technologies, at Gitex Global in Dubai on Friday. Leslie Pableo / The National

There is a “pipeline of projects in action”, and “more additions” to the company may be announced over the coming months, Mr Dowidar said, without disclosing further details.

The strategy of e& will significantly be complemented by the launch of a new $250 million venture capital fund that aims to support start-up companies.

The fund, which is part of the company's new investment unit, e& capital, adds to the slew of VC funds focused on the Middle East and is expected to raise the company's profile, Mr Dowidar said.

“By creating the ability for start-ups to get funding, they are able to scale, improve and compete in the region and elsewhere,” he said.

The fund will also look at start-ups from outside the UAE in order to encourage them to do business in the Emirates and contributor to the national economy.

“By supporting that ecosystem, [we] will also create very good financial returns for all investors,” Mr Dowidar said.

By creating the ability for start-ups to get funding, they are able to scale, improve and compete in the region and elsewhere
Hatem Dowidar,
group chief executive of e&

The company is also tapping into the metaverse with the unveiling of e& Universe, which is another building block in its strategy to become a global technology company.

Mr Dowidar declined to reveal the size of investment in e& Universe but said the company is already in discussions with “several” real estate companies to help them establish a presence in the company's metaverse.

The emerging technology, which allows interconnect in virtual worlds, has the ability to help companies streamline operations through interactive means.

“Companies will be using the metaverse a lot. More and more components will be coming into e&'s metaverse, such as entertainment events that are relevant to the region,” Mr Dowidar said.

  • The Etisalat stand on day five of Gitex, at the Dubai World Trade Centre. All photos: Leslie Pableo for The National
    The Etisalat stand on day five of Gitex, at the Dubai World Trade Centre. All photos: Leslie Pableo for The National
  • Ameca, the humanoid robot, entertains visitors at Gitex.
    Ameca, the humanoid robot, entertains visitors at Gitex.
  • Ameca will interact with visitors to the Museum of the Future's Tomorrow Today exhibition, greeting them, giving directions and answering questions.
    Ameca will interact with visitors to the Museum of the Future's Tomorrow Today exhibition, greeting them, giving directions and answering questions.
  • A piping system on display at Gitex.
    A piping system on display at Gitex.
  • A visitor gets the full virtual reality experience at the technology exhibition.
    A visitor gets the full virtual reality experience at the technology exhibition.
  • A miniature smart city on display at the tech show.
    A miniature smart city on display at the tech show.
  • A driverless vehicle at the Etisalat stand.
    A driverless vehicle at the Etisalat stand.
  • A visitor uses a VR headset at Gitex.
    A visitor uses a VR headset at Gitex.
  • A flying car on display at the Etisalat stand.
    A flying car on display at the Etisalat stand.
  • Gitex launched in Dubai with an array of new science and technology innovations to explore.
    Gitex launched in Dubai with an array of new science and technology innovations to explore.
  • About 5,000 companies are exhibiting their latest innovations at the show.
    About 5,000 companies are exhibiting their latest innovations at the show.
  • The Huawei stand at Gitex.
    The Huawei stand at Gitex.
  • Avaya's stand at Gitex.
    Avaya's stand at Gitex.
Match info:

Burnley 0

Manchester United 2
Lukaku (22', 44')

Red card: Marcus Rashford (Man United)

Man of the match: Romelu Lukaku (Manchester United)

%E2%80%98FSO%20Safer%E2%80%99%20-%20a%20ticking%20bomb
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Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.

Based: Riyadh

Offices: UAE, Vietnam and Germany

Founded: September, 2020

Number of employees: 70

Sector: FinTech, online payment solutions

Funding to date: $116m in two funding rounds  

Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3ESmartCrowd%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ESiddiq%20Farid%20and%20Musfique%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%20%2F%20PropTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24650%2C000%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2035%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EVarious%20institutional%20investors%20and%20notable%20angel%20investors%20(500%20MENA%2C%20Shurooq%2C%20Mada%2C%20Seedstar%2C%20Tricap)%3C%2Fp%3E%0A

JUDAS AND THE BLACK MESSIAH

Directed by: Shaka King

Starring: Daniel Kaluuya, Lakeith Stanfield, Jesse Plemons

Four stars

So what is Spicy Chickenjoy?

Just as McDonald’s has the Big Mac, Jollibee has Spicy Chickenjoy – a piece of fried chicken that’s crispy and spicy on the outside and comes with a side of spaghetti, all covered in tomato sauce and topped with sausage slices and ground beef. It sounds like a recipe that a child would come up with, but perhaps that’s the point – a flavourbomb combination of cheap comfort foods. Chickenjoy is Jollibee’s best-selling product in every country in which it has a presence.
 

Mina Cup winners

Under 12 – Minerva Academy

Under 14 – Unam Pumas

Under 16 – Fursan Hispania

Under 18 – Madenat

Infobox

Western Region Asia Cup Qualifier, Al Amerat, Oman

The two finalists advance to the next stage of qualifying, in Malaysia in August

Results

UAE beat Iran by 10 wickets

Kuwait beat Saudi Arabia by eight wickets

Oman beat Bahrain by nine wickets

Qatar beat Maldives by 106 runs

Monday fixtures

UAE v Kuwait, Iran v Saudi Arabia, Oman v Qatar, Maldives v Bahrain

Ahmed Raza

UAE cricket captain

Age: 31

Born: Sharjah

Role: Left-arm spinner

One-day internationals: 31 matches, 35 wickets, average 31.4, economy rate 3.95

T20 internationals: 41 matches, 29 wickets, average 30.3, economy rate 6.28

Where to submit a sample

Volunteers of all ages can submit DNA samples at centres across Abu Dhabi, including: Abu Dhabi National Exhibition Centre (Adnec), Biogenix Labs in Masdar City, NMC Royal Hospital in Khalifa City, NMC Royal Medical Centre, Abu Dhabi, NMC Royal Women's Hospital, Bareen International Hospital, Al Towayya in Al Ain, NMC Specialty Hospital, Al Ain

 

 

Her most famous song

Aghadan Alqak (Would I Ever Find You Again)?

Would I ever find you again
You, the heaven of my love, my yearning and madness;
You, the kiss to my soul, my cheer and
sadness?
Would your lights ever break the night of my eyes again?
Would I ever find you again?
This world is volume and you're the notion,
This world is night and you're the lifetime,
This world is eyes and you're the vision,
This world is sky and you're the moon time,
Have mercy on the heart that belongs to you.

Lyrics: Al Hadi Adam; Composer: Mohammed Abdel Wahab

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home. 

Other acts on the Jazz Garden bill

Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.

MATCH INFO

Quarter-finals

Saturday (all times UAE)

England v Australia, 11.15am 
New Zealand v Ireland, 2.15pm

Sunday

Wales v France, 11.15am
Japan v South Africa, 2.15pm

Company%20profile
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Citadel: Honey Bunny first episode

Directors: Raj & DK

Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon

Rating: 4/5

TV: World Cup Qualifier 2018 matches will be aired on on OSN Sports HD Cricket channel

RACE CARD

5pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (Turf) 2,200m
5.30pm: Khor Al Baghal – Conditions (PA) Dh80,000 (T) 1,600m
6pm: Khor Faridah – Handicap (PA) Dh80,000 (T) 1,600m
6.30pm: Abu Dhabi Fillies Classic – Prestige (PA) Dh110,000 (T) 1,400m
7pm: Abu Dhabi Colts Classic – Prestige (PA) Dh110,000 (T) 1,400m
7.30pm: Khor Laffam – Handicap (TB) Dh80,000 (T) 2,200m

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

Updated: October 17, 2022, 5:31 AM