Omantel hosted its annual investor meeting last week under the theme “Beyond Telecommunications: Showcasing Omantel’s Future Growth Engines”, bringing together leading regional investment funds, institutional investors, and analysts alongside the company’s executive management. The event underscored Omantel’s transformation into a leading regional digital group and highlighted its strategic roadmap for growth.
Ghassan bin Khamis Al Hashar, Chief Financial Officer of Omantel, presented a comprehensive overview of the Group’s financial results. He noted that Omantel’s revenues, including contributions from Zain Group, achieved an annual growth rate of 6.3% from 2022 to 2024. Despite intensifying competition in the local market, Omantel managed throw its local operations to maintain its profitability in 2024, recording annual profit growth of 4.9% and sustaining EBITDA margins of 35% (excluding international hubbing revenues).
Al Hashar emphasized that disciplined capital allocation and operational efficiency remain central to Omantel’s strategy. Key priorities for the coming years include accelerating deployment of 5G infrastructure, expanding sovereign cloud capabilities, and leveraging AI technologies.
These initiatives aim to raise Omantel’s ICT market share to 25% by 2030, reinforcing its position as an integrated digital group and a catalyst for Oman’s digital economy.
The meeting welcomed leading government and private investment funds from across the region, collectively managing assets valued at US$100 billion. Their participation reflects Omantel’s strong investment appeal and its role as a trusted partner in driving digital transformation.
An open panel discussion showcased Omantel’s subsidiaries and their contributions to strengthening the Group’s ecosystem:
- Oman Data Park: The Sultanate’s largest data center operator, offering sovereign cloud, cybersecurity, and AI-as-a-service.
- Zain Omantel International (ZOI): A joint venture with Zain Group, achieving 172% revenue growth year-on-year, serving global clients including Meta, Google, and AWS, and operating a 120,000 km submarine cable system.
- OMPAY: A fintech platform positioned as a hub for digital payments and transfers.
- Tadoom: A digital innovation company enabling smart cities and IoT, connecting over 800,000 devices and achieving a 117% CAGR over the past three years.
- Infoline: A leading ICT service provider enhancing systems integration, enterprise solutions, and customer experience.
Omantel’s executive management highlighted the Group’s journey toward becoming a diversified technology leader. Strategic investments in sovereign cloud infrastructure with AWS and Huawei aim to fulfill the growing demand while ensuring compliance with national security standards. In addition, pioneering initiatives such as the Artificial Intelligence Center and the Arabic NLP Studio (Arabic LLM Studio) position Omantel at the forefront of AI adoption in the region.
Aligned with Oman’s Vision 2040, Omantel is also advancing sustainability by delivering ICT-enabled solutions that support the Sultanate’s green transition.
“Omantel is proud to serve as a catalyst for Oman’s digital transformation and green economy,” Al Hashar said. “We are grateful for the trust of the investor community and remain committed to transparent engagement through strategic updates and dialogue.”
With its diverse portfolio of subsidiaries, leading investments in AI and cloud, and alignment with national priorities, Omantel is positioned not only as a technology leader in Oman but also as a regional digital powerhouse in the MENA region, delivering long-term value to investors and the nation.