Ooredoo’s investments reach OMR700mn

Business Saturday 27/October/2018 17:20 PM
By: Times News Service
Ooredoo’s investments reach OMR700mn

Muscat: In over 14 years, Ooredoo has grown to become a major telecom company, according to the company’s CEO, Ian Dench, who recently reviewed the organisation’s story and explained how Ooredoo, which started with US$1.7 million in capital, today has in excess of OMR700 million.
Dench spoke about the company’s expansion, and how it is leading the digital transformation, the growth of the market and discussed the contributions Ooredoo has made in the Sultanate.
Founded in 2004 by Qtel Group, now known as Ooredoo Qatar, Ooredoo Oman began operating under the name Nawras. The company was awarded the second fixed licence in Oman in 2009, and in 2010 became a publicly listed company on the Muscat Securities Market (MSM). In 2012, the company initiated a network upgrade programme with an investment of OMR450 million.
As the second telecom company in the country, it made a significant change in its strategy in 2015 when it adopted the name Ooredoo. With the start of a brand transformation, the company’s identity became associated with a global organisation. This, in turn, contributed to positive economic growth in areas, including buying products from distributors and agents, as well as the rise of its buying power in the market.
While the change added a large amount of value, particularly in terms of marketing, the initial transition phase was challenging. However, the company was able to achieve exponential growth within the industry over the years, penetrating the market and making a difference by bringing digital communications to the Sultanate. Ooredoo Oman has since been part of the international Ooredoo Group’s portfolio of 11 operators around the world, which serves approximately 164 million subscribers.
Dench highlighted Ooredoo’s commitment to making sure that the public enjoys the Internet. As an integrated telecommunications provider offering fixed, mobile and broadband services, the company is continuously working on expanding its network. Today, it has successfully set-up one of the fastest mobile networks in the country, wherein its Super 4G covers 95 per cent of Oman’s population. Complementing this is Ooredoo’s reputation of delivering value-added products and services to all.
“People want to be digital. As a result, there has been a high demand from customers for convenient, easy to use and value-added offers that are available through Ooredoo’s mobile app. With over 650,000 downloads to date, the state-of-the-art app provides customers with exactly what they need, when they want it, at the touch of a button,” Dench said.
Additional initiatives include supporting the Summer Sports Programme and Clubs Youth Camps, in collaboration with the Ministry of Sports Affairs, along with the establishment of a digital educational application for school students and conducting computer science training and programming courses for high school graduates.