Dubai: UAE telecom operator Etisalat has become the first Middle East group to break the $10 billion barrier in terms of portfolio value, the company announced on Tuesday.
The achievement has made the company earned the “Most Valuable Portfolio Brand” in the Middle East and North Africa (Mena) by Brand Finance.
We are proud to achieve the recognition as the most valuable portfolio brand and the first Middle Eastern brand to break the $10 billion barrier in terms of wider portfolio value in the Mena region.
The group’s portfolio includes brands such as Etisalat Misr, Mobily, Ufone, Maroc Telecom, PTCL and Etisalat Afghanistan. The company also saw an eight per cent growth since last year and retained its position as the most valuable consumer brand in the Mena region.
“We are proud to achieve the recognition as the most valuable portfolio brand and the first Middle Eastern brand to break the $10 billion barrier in terms of wider portfolio value in the Mena region,” said Saleh Abdullah Al Abdooli, CEO of Etisalat Group.
“The UAE leadership’s support, vision and encouragement helped Etisalat achieve this significant milestone surpassing some of the top renowned regional brands. This achievement is also due to our continuous efforts in digital transformation, whereby we have amplified our reach and presence in a highly competitive marketplace by investing in new digital platforms and global brand building initiatives,” said Saleh Abdullah Al Abdooli, CEO, Etisalat Group.
Operating in 15 countries across Asia, Middle East and Africa, Etisalat’s success can also be attributed to its continued efforts in developing its customer loyalty programs, sports sponsorship commitments and in driving the digital future to empower societies.
“It is a real testament to the leadership of the UAE that Emirati brands are leading the charge for the Middle East, amongst the world’s most valuable brands. As celebrations for the ‘Year of Zayed’ wrap up, we recognise the achievements, will and determination of the UAE’s founding father, the late Sheikh Zayed bin Sultan Al Nahyan,” said David Haigh, from Brand Finance.