In recognition of the various accomplishments achieved under his leadership
stc's CEO Maziad Alharbi awarded Top CEO for the year 2022 in the Kuwait’s Telecom & Tech sector
Kuwait, 21 May 2022: Kuwait Telecommunications Company – stc, a world-class digital leader providing innovative services and platforms to customers, enabling the digital transformation in Kuwait, announced that engineer Maziad Alharbi, stc CEO, was selected as the TOP CEO in Kuwait within the Telecom & Tech Sector during Top CEO Awards and conference for the year 2022 and honored among the Top CEOs in the GCC. The TOP CEO Awards and Conference was held in Dubai on May 18th where the top 100 CEOs in the GCC were selected from different sectors.
Alharbi was selected among more than 700 CEO’s of listed companies in the GCC Stock Markets. He was honored alongside the top 10 CEOs in each of the 10 different business sectors in the region who have contributed to the profitability and tremendous growth of their companies, in addition to the transparent communications with the investment community and have demonstrated outstanding corporate governance over the past year. The awards were based on guidelines developed by the Dubai-based Institute for Corporate Governance in collaboration with INSEAD business school for global entrepreneurship and supervised by the accounting firm KPMG.
Alharbi was awarded the Top CEO in Kuwait for the year 2022 and shortlisted alongside the top 10 CEOs within the Telecom & Tech sector in the Gulf region, considering stc’s exceptional financial and operational performance during 2021 where stc’s total revenue grew by 4.6% and the net profit increased by 40% in 2021. The results of 2021 were exceptional due to the company’s advanced strategy and the dedication of its employees to deliver their best in order to achieve the company’s desired goals, meet the individuals and enterprise customers’ needs, as well as to create an added value and achieve better returns for its shareholders. In this regard, the digital transformation strategy that was developed and implemented by stc, with the support and leadership of stc CEO Maziad Alharbi, over the past few years has also been a key success factor that helped the company in its many contributions to the local economy, government initiatives and the growing demand for digital solutions and information technology. In addition to this, stc plays a pivotal role in its relationship with the investors and investment community incorporating the industry’s global best practices and ensuring to maintain the highest level of transparency with the current and potential investors.
With the executive management led by Alharbi, stc has achieved numerous milestones, introduced new concepts to market, and strengthened its role as a pioneer enabling digital transformation in Kuwait that was reflected in the various prestigious awards that stc has received in recognition of its initiatives and smart investments. And in 2021, stc has launched the latest FULL 5G upgrade exclusively for the first time in Kuwait and the MENA region, through SA autonomous communication technology, to upgrade the 5G networks to a new level of exceptional speeds and improved coverage.
Another milestone included obtaining the approval from the Communication and Information Technology Regulatory Authority (CITRA) to launch the first-of-its-kind mobile virtual network operator (MVNO) license to launch Virgin Mobile Kuwait in partnership with Virgin Mobile Middle East & Africa. Through this license, Virgin Mobile Kuwait will be able to operate using stc’s network, with stc acting as a Host Facilities Based Provider “FBP” with Virgin Mobile Kuwait, offering prepaid plans to users, which makes it the first company to provide a virtual telecommunications service in the country.
Towards the end of 2021, stc announced signing a binding agreement to fully acquire e-portal Holding Company and its subsidiaries that was completely acquired in April 2022. This acquisition of e-portal, one of the most prominent ICT companies, would enhance stc’s internal ICT capabilities to cope with the recent rapid global changes. This comes in line with the company’s corporate strategy that focuses on expanding its activities and shifting from the traditional telecommunication services to the digital services as well as the advanced integrated communications information solutions and advanced technical solutions, which saw stc acquiring Qualitynet back in 2019, now rebranded as solutions by stc.
Kuwait Telecommunications Company (stc) is a Kuwaiti shareholding company incorporated pursuant to Amiri Decree No. 187 on 22 July, 2008, to operate and manage the third GSM mobile network in Kuwait as per Law No. 2 of 2007. Accordingly, stc launched its operations in December 2008 and was listed on Boursa Kuwait in December 2014. It is a world-class digital leader providing innovative services and platforms to customers and enabling the digital transformation in Kuwait, and is a subsidiary of stc Group. stc has rapidly reached a leadership stance in the market through its customer and employee centric strategy.
stc offers an innovative range of world-class products, services and solutions with high quality, that cater to the customers’ needs and demands, both for individuals and enterprises (solutions by stc). In 2019, stc acquired 100% of the share capital of the Internet Service Provider, Qualitynet General Trading and Contracting Company (solutions by stc) in Kuwait.
stc offers high internet speeds due to the implementation of the most advanced 5G network and deployment of the largest network nationwide.
Source: stc press release