17/12/2024
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17/12/2024
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KUWAIT CITY, Dec 17: Zain Group, a leading provider of innovative technologies and digital lifestyle and ICT communications operating in eight markets across the Middle East and Africa, announces the introduction of ‘4WARD’-Progress with Purpose, a new five-year sustainable corporate strategy. This strategy is focused on continuity, acceleration, collaboration and digital innovation, and is designed to foster value creation by fast-tracking the company’s evolution from a predominantly mobile centric operator into a purpose driven technology entity. Zain looks to maximize its full potential as a customer-centric, future-proof, and impactful leading regional TechCo conglomerate.
The 4WARD strategy was formulated internally through a series of groupwide collaborative workshops led by the Zain Group strategy team and announced during a recent strategy forum held in Kuwait, attended by Zain Vice-Chairman and Group CEO, Bader Al-Kharafi, senior Group executives and management leadership teams from all Zain’s and Omantel’s operating entities, shortly thereafter receiving formal approval from Zain Group’s Board of Directors
4WARD builds on the significant momentum and transformational accomplishments made under the previous corporate strategy, 4SIGHT, which was introduced in 2019, and under which Zain emerged as a multi-core digital player, successfully transforming its fixed and mobile services, and expanding into a number of new business verticals including ICT, Digital mobile operations, Fintech, Entertainment, Digital Infrastructure, Subsea and Cross-Border Connectivity, and more.
The new ‘4WARD’-Progress with Purpose strategy comprises of four primary forces, each with three accelerators (thus 12 key accelerators) that will further progress Zain from being a Telco to a TechCo, to meet the ever-growing demand for superior and dynamic consumer and enterprise services:
1.tCustomer Delight: Exceeding customer expectations by placing them at the heart of everything Zain does, achieved through delivering superior fixed and mobile connectivity experiences for consumers, businesses, communities, and governments, thus enhancing Zain’s position as a provider of choice for all
2.tDigital Zain: Elevating digital capabilities and innovation to drive expansion and growth through the further development of Fintech activities; artificial intelligence (AI) and emerging technologies; and building out digital infrastructure further
3.tPurpose and Action: Ensuring that Zain’s actions align with meaningful impact and responsibility, through Sustainability, Inclusion, Diversity, Equity and other ESG initiatives that lead to systemic change
4.tCollaborative Growth: Empowerment of the company’s 8,000 talented workforce, and fostering a culture of collaboration and partnerships to unlock opportunities and synergies across Zain’s ecosystem
Zain Vice-Chairman and Group CEO, Bader Al-Kharafi commented,
“4WARD will unleash Zain’s full potential in transforming from a Telco to a purpose driven TechCo conglomerate providing ‘Better Lives and Lasting Connections’. The 4SIGHT strategy over the years has made Zain a more dynamic and agile organization, having established many customer focused initiatives that have enhanced the mobile experience for our customers, as well as creating multiple fast-growing and impactful new business streams that are well poised to accelerate further. We are confident that 4WARD will provide the necessary impetus for Zain’s continued relevance and impact on shaping societies, and drive the Zain brand value to new heights.”
He added, “This new five-year strategy will future-proof Zain and create shareholder value given the purpose-driven focus of continuity, acceleration, collaboration and digital innovation. Zain has a rich pioneering history of commercial and strategic success regionally, and we look forward to continuing our positive relationships with regulatory bodies and all stakeholders as we implement 4WARD to the benefit of customers, communities, and government bodies we proudly serve.”
Al-Kharafi noted, “With powerful and sweeping innovations such as artificial intelligence, big data analytics and other emerging technologies becoming increasingly significant and highly sought-after, it is important for Zain to harness these dynamics in its underlying strategy. We will also enhance collaboration internally and with strategic ecosystem partners and continue building on the sound foundations and purposeful fundamental values of the many new lucrative business verticals that embrace ICT, Digital Mobile, Fintech, Entertainment, Digital Infrastructure, Subsea and Cross-Border Connectivity, and the like.”
The success of the 4SIGHT strategy over the past five years has seen the establishment of multiple robust entities, namely ZainTECH, Zain Omantel International (ZOI), TASC Towers, Zain Ventures, Tamam, Zain Cash, Bede, Dizlee, Zain Esports, Yaqoot, oodi, and a marketing partnership with Red Bull, with more in the pipeline. All these entities offer a wide range of dynamic, business-enriching and life-enhancing services.
This has contributed immensely to Zain’s brand value to currently stand at more than US$3 billion, according to BrandFinance 2024 rankings, a 50% increase from its 2020 valuation. The company’s commitment to its values and the community, along with its purpose-driven focus on sustainability, inclusion, diversity, and equity powered by innovation, are key drivers for the Zain brand’s value success. This drove an improved Brand Strength Index (BSI) rating of AAA-.
Commenting on the highly recognizable Zain brand, Al-Kharafi concluded, “While historically associated primarily with mobile services, we are keen to evolve that association to harness the inherent strengths of the Zain brand and adapt it to mirror the diversified TechCo conglomerate it embodies today. Consequently, we are actively exploring avenues to reposition the Zain brand, aiming to amplify its value by capitalizing on the collective strength of the various new business entities under the widely recognized and reputable Zain umbrella.”
