Company: Ooredoo
Nomination Submitted by: FTI Consulting
Company Description: Ooredoo is an international communications company operating across the Middle East, North Africa and Southeast Asia. Serving consumers and businesses in 10 countries, Ooredoo delivers the leading data experience through a broad range of content and services via its advanced, data-centric mobile and fixed networks.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Fastest-Growing Company of the Year - in the Middle East and Africa
 Nomination Title: Ooredoo Palestine
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the achievements of the nominated organization since 1 January 2020, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: Briefly describe the nominated organization: its history and past performance (up to 200 words):
Total 160 words used.
Ooredoo Palestine launched commercial services in 2009 in the West Bank. The company strives to deliver its customers with the best available voice and internet packages, supporting them in living a digital life. Ooredoo Palestine has been at the heart of the growth of Palestine’s internet services. The company began offering 3G services in the West Bank in 2018, and additionally began providing services in the Gaza Strip in late 2017. Operations in Palestine are nuanced by acting in a complex environment, with a range of black-market competitors offering 4G and 5G services, alongside traditional competitors. However, Ooredoo Palestine has maintained to its lodestar of excellence in customer service, innovating a range of packages that enable consumers and businesses to use the internet on a daily basis. Through this ethos, the company has rapidly grown its revenue by 33.7% in the last five years and its EBITDA by 116.9%, in addition to significant advances in its net profit.
- If you are providing written answers for your submission, you must provide an answer to this second question: Outline the organization's growth achievements since the beginning of 2020 that you wish to bring to the judges' attention (up to 250 words):
Total 254 words used. If the word count is more than 25 words over the limit, please deduct one (1) point from your score.
Ooredoo Palestine the company has continued to innovate its services to meet specific customer needs. Starting from 2020, and despite the Covid-19 challenges including continuous market lockdowns, different economic detractions, and the complex political situation in the market, Ooredoo Palestine succeeded to grow the bottom line and revenue while total market in shrinking. Through the company’s longstanding commitment to delivering its customers, Ooredoo Palestine has strengthened its financial performance. The company’s revenue in 2021 was QR 408 million (USD 112.2 million), up by 13.3% from the previous year. Its EBITDA grew by 19.0% in 2021, from QR 125 million (USD 34.3 million) to QR 149 million (USD 40.8 million). In the last five years, Ooredoo Palestine has seen its revenue grow by 33.7% and EBITDA by 116.9%. The company has also significantly grown its net profit since 2017, as per the below table.
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Description
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2017
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2018
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2019
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2020
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2021
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Net Income (USD)
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(6,645,620)
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100,474
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1,123,117
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7,541,215
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13,423,802
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Growth %
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102%
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1018%
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571%
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78%
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Unlike other markets, Palestine’s digital infrastructure is still very nascent, so services are primarily focused on delivering businesses with the essentials to get them online. That includes voice and data including B2B and B2C portfolios with unique customer experience. Since entry into Palestine, Ooredoo Palestine has become markets leaders in Net Promotor Score and Customer Satisfaction scores. The company operates in around 950 cell towers across Palestine, providing customers with access to leading internet provision.
- If you are providing written answers for your submission, you must provide an answer to this third question: Explain why the growth achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 247 words used.
Telecommunications in Palestine are complex. Palestinians could not access 3G internet until 2018. Ooredoo Palestine launched 3G in the West Bank in 2018, competing against illegal operators providing 4G and 5G services. The company opened commercial operations in the Gaza Strip in 2017 (with 2G services), facing the reality of low customer purchasing power. Palestinian customers are reliant on data packages which can run out, meaning that they are unable to engage with a business digitally. This hampers business operations reliant on internet. Ooredoo Palestine offers bundles with larger sizes and at faster speeds than what is typical for 3G services, to remain competitive with illegal operators. That has led to significant infrastructure investment in our network services. Ooredoo Palestine competes against black-market operators. The company’s services for businesses are designed to be comprehensive for their commercial needs. Ooredoo remains competitive with illegal operators due to better coverage and superior customer service. Ooredoo Palestine continues to innovate its services to keep ahead of illegal operators. To this end, Ooredoo Palestine expanded data capacity in its 3G network by over 12%, ensuring it continues to meet increasing demand. The company has invested in increasing digital penetration, leading to a 70% year-on-year increase in monthly active users, and an increase of 139% year-on-year in App revenue. Additionally, Ooredoo Palestine has signed e-wallet agreements with two major financial service providers. The company established a new data service, to be used by the Arab Bank, which facilitates online payments in Palestine.
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 42 words used.
Ooredoo Palestine’s annual results for the year 2021 are contained in the Ooredoo Group Annual Report 2021, available here (pages 36 – 37). The report contains an overview of the company’s activities last year, alongside its financial information from 2017 – 2021.
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