Get Adobe Flash player

Seed funding round for YaLLa Esports oversubscribed

YaLLa Esports, one of the leading esports organizations in the MENA region, has completed and secured a seed funding round from a group of strategic investors, led by super angel investor Kushal Shah.

Finnish-born, Dubai-based esports trailblazer, Klaus Kajetski founded YaLLa Esports in 2016, having been heavily involved in building the regional esports ecosystem. With 20 years of esports and gaming experience, Klaus has grown YaLLa Esports to a globally recognised team with players and staff from multiple nationalities including the United Arab Emirates, Saudi Arabia, Egypt and Tunisia, having success in international and regional esports tournaments.

Klaus Kajetski founded YaLLa Esports in 2016, having been heavily involved in building the regional esports ecosystem

YaLLa Esports will use the funding to search and develop the best talent in the region; to build great team facilities and to help with travel costs to compete on a global scale, as well as for expansion across the MENA region. The startup aims to nurture regional talent through an organised personal growth structure, championing the gaming culture and building an environment for aspiring professional gamers to flourish and make esports a viable career.

30 million 5G users forecast in the MEA by 2024

5G is expected to reach 30 million subscriptions for enhanced mobile broadband in the Middle East and Africa (MEA) by the end of 2024, representing 2% of total mobile subscriptions. This will make 5G the fastest generation of cellular technology to be rolled out on a global scale, according to the recently published MEA edition of the Ericsson Mobility Report. Read the full Ericsson Mobility Report

Key drivers for 5G deployment include increased network capacity, lower cost per gigabyte and new use case requirements. The majority of the 5G subscriptions in the MEA are expected to come from advanced ICT markets such as the GCC countries Saudi Arabia, UAE and Qatar while in Africa, considerable momentum is building up in South Africa.

Ericsson to switch on 5G globally in 2019

Ericsson President and CEO, Börje Ekholm says the company will switch on 5G globally in 2019, backed by a strong, secure and available portfolio. Addressing media and analysts as he launched Ericsson’s Mobile World Congress 2019 in Barcelona, Ekholm also stressed the role of 5G as a critical national infrastructure, and emphasized the advantages for early adopters.

Ekholm said that Ericsson has announced commercial 5G deals with 10 named service provider customers, as well as 42 memorandums of understanding. The company is already rolling out 5G networks across the globe: in the US, Europe, Asia, and Australia. 

Zain Group publishes its latest thought leadership report

Zain Group, has published its annual thought leadership report, this year entitled, Social Innovation: The Fusion of the Fourth Industrial Revolution and A New Generational Mindset.

The report, which launched during the 2019 Mobile World Congress in Barcelona, provides a clear understanding of how the various forces of the Fourth Industrial Revolution and the new generational mindset foster social innovation. The report identifies the significant benefits and opportunities social innovation brings to humanity, businesses, civil society and governments. Additionally, it examines how Information and Communication Technology (ICT) can and does play a critical role in enabling a more inclusive approach to social, economic and environmental impacts, fostering positive change.  Lastly, the report provides a clear understanding of the relationship between social innovation and the United Nations’ Sustainable Development Goals (SDGs) in the context of planetary boundaries and social thresholds.

The report is not printed physically, so as to reduce negative environmental impact, and instead may be viewed online or downloaded by visiting the link: https://zain.com/en/sustainability/thought-leadership-reports/

Positive developments in Saudi boost Zain’s full-year performance

Zain Group, a leading mobile telecom innovator in eight markets across the Middle East and Africa, announces its consolidated financial results for the full-year 2018, and fourth-quarter ended 31 December, 2018. Zain serves 49 million customers, reflecting a 5% increase year-on-year (Y-o-Y).

For the full-year 2018, Zain Group generated consolidated revenues of KD 1.3 billion (USD 4.4 billion), an impressive 28% Y-o-Y growth, while consolidated EBITDA for the period increased by 25% Y-o-Y to reach KD 519 million (USD 1.7 billion), reflecting an EBITDA margin of 39%. Consolidated net income reached KD 197 million (USD 649 million), up 23% and reflecting Earnings Per Share of 45 Fils (USD 0.15).  

For the full-year, foreign currency translation impact, predominantly due to the 47% currency devaluation in Sudan from an average of 16.9 to 31.9 (SDG / USD), deprived the company USD 216 million in revenue, USD 79 million in EBITDA and USD 27 million in net income.  

For the fourth quarter (Q4) of 2018, Zain Group recorded consolidated revenues of KD 411 million (USD 1.4 billion), up 57% when compared to Q4, 2017. EBITDA for the quarter amounted to KD 195 million (USD 642 million), reflecting an EBITDA margin of 47%. Net income for the period amounted to KD 59 million (USD 196 million), up 59% Y-o-Y, and representing Earnings Per Share of 13 fils (USD 0.05).  

Specifically, for Q4 2018, currency translation impact deprived the company USD 78 million in revenue, USD 25 million in EBITDA and USD 10 million in net income, again predominantly due to currency devaluation in Sudan from 18.3 to 46.2 (SDG / USD), a 60% decrease.  

Vanilla Plus