Zain Operations

Zain Kuwait delivered solid financial and operational results in a highly competitive market, maintaining its clear number-one position with a customer base of 2.6 million, the highest revenue and net income market shares, and the leading Net Promoter Score (NPS), supported by consistent service quality and high network reliability.

For the full year 2025, revenue grew 4% YoY to KD 386 million (USD 1.3 billion), while EBITDA reached KD 139 million (USD 452 million), reflecting a healthy EBITDA margin of 36%. Net income declined 21% YoY to KD 87 million (USD 282 million), primarily due to the USD 80 million one‑off transaction gain from the step‑up acquisition of IHS (Kuwait TowerCo) in Q4 2024; excluding this one‑time gain, net income would have grown 1% YoY. Data services remained a key growth driver, contributing 36% of total revenue, with data revenue increasing 4% YoY, underscoring the ongoing shift toward digital adoption and higher‑value services.

Recognizing the importance of technology leadership, Zain Kuwait invested USD 274 million in CAPEX during 2025, representing 22% of revenue, primarily to expand 5G Advanced across 1,300 towers nationwide, enhancing customer experience, driving B2B revenues, and supporting retention of key clients. The Company further strengthened its network leadership through an accelerated rollout program and targeted capability upgrades, expanding its 5G Advanced footprint across key population centers to improve coverage, speed, and overall customer experience. A major new data center milestone supported equipment migration and colocation growth, alongside core upgrades including enhanced Standalone (SA) and VoNR readiness, improved roaming interoperability, and additional service innovations, reinforcing a resilient, future‑ready network.

Independent assessments by Ookla and OpenSignal throughout the year confirmed Zain Kuwait’s leading position in 4G and 5G performance, with top rankings in streaming experience and network quality. Beyond performance metrics, the Company enabled landmark innovation by supporting a Guinness World Record‑setting remote robotic surgery enabled by ultra‑low latency connectivity, and strengthened national digital trust by identifying and mitigating the source of fraudulent SMS activity, developing preventive detection tools in close coordination with relevant authorities.

The launch of an enhanced customer app with more dynamic, seamless features led to a substantial increase in monthly active users and engagement, with digital payments accounting for nearly 75% of transactions. This was complemented by the introduction of Zain Perks, an exclusive rewards program providing instant offers from more than 50 partners across fashion, sports and health, home and lifestyle, and other categories.
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The growing network of local and international brands is automatically available to all Zain Kuwait customers on postpaid and prepaid voice and Internet plans, without pre‑registration or point collection, offering a simple experience based on instant rewards without complications or conditions; customers also receive 50 GB free when redeeming any Zain Perks offer. Zain Perks aligns with the Company’s strategy to enrich the digital experience and provide added value beyond traditional telecom services by designing innovative solutions that make customers’ daily lives easier and more flexible, while supporting the local retail ecosystem by connecting brands directly with a broad segment of Zain’s customer base.

Zain Kuwait’s leadership is also demonstrated in its governance practices, with the Company receiving World Finance’s “Best Corporate Governance Award 2025” in Kuwait for the fifth consecutive year, underscoring its ongoing commitment to transparency, accountability, and ethical business conduct.

Looking ahead, Zain Kuwait remains committed to sustainable growth and long‑term value creation for shareholders. Building on its network leadership, AI expertise and strong governance foundation, the Company will continue to deliver innovative solutions, elevate customer experience, and contribute to Kuwait’s broader digital transformation agenda.

In 2025, Zain KSA reported its highest-ever revenue of USD 2.9 billion, a 6% YoY increase, with EBITDA rising 4% YoY to USD 925 million, reflecting an EBITDA margin of 32%. Net income reached USD 161 million, up 1% YoY, and on a like‑for‑like basis—excluding the non‑recurring SAR 233 million tax and zakat provisions recorded in 2024—net profit grew 66% YoY, highlighting stronger operational performance and more sustainable revenue streams.

Investments in digital infrastructure, 5G expansion, and enhanced customer experience were key drivers of revenue growth, further supported by the enterprise segment and adjacent businesses including digital operator Yaqoot and microfinance arm Tamam, which contributed to revenue diversification. Reflecting this performance, the Board recommended a cash dividend of SAR 0.5 per share for 2025.

Zain KSA continued to invest significantly in CAPEX, allocating USD 357 million to expand 5G coverage and enhance 4G LTE capacity. With a dynamic 5G network now covering 66 cities, data revenue grew 3% and represented 39% of total revenue for the year, while the customer base reached 8.1 million. The operator added approximately 1,000 new sites, increasing population coverage by 700,000 and achieving 5G

Standalone readiness for VoNR, VoWiFi, VoNR handover, roaming, and gaming use cases.

Zain KSA enhanced its end‑to‑end digital journey through improvements in activation, payments, add‑ons, customer value management (CVM), and visitor onboarding. Yaqoot continued to see strong demand, delivering revenue growth supported by refreshed voice and data packages, attractive roaming and international offers, and effective marketing campaigns.
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The Company further strengthened Yaqoot’s digital proposition with a new website featuring an improved UX/UI to support smoother product discovery and easier access to customer support, while engagement was boosted via the Mokafaa Rewards program and the launch of Mokafaa Welcome Points, which increased transactions and accelerated digital onboarding. Zain KSA also built an in‑house e‑commerce marketplace and upgraded its core digital Business Support System (BSS), enhancing scalability and supporting future digital growth.

Tamam, Zain KSA’s digital micro‑financing subsidiary, recorded another strong year, offering fully digital, instant-approval, Sharia‑compliant financing and reinforcing its leading position in digital consumer finance in the Kingdom. Revenues grew 18% through expansion of its financing portfolio across cash, instalment, and device solutions, contributing to the Company’s broader fintech momentum.

Zain KSA’s performance and investments in sustainability, innovation, customer experience, and national talent development earned multiple national and international awards in 2025, including the CSR Award from the Ministry of Human Resources and Social Development for the second consecutive year, as well as recognitions in health and well‑being, customer experience, future talent development, inclusion, and digital innovation and AI applications.

​Looking ahead, Zain KSA will focus on converting its network leadership into stronger monetization and sustainable growth, while continuing to play a central role in the Kingdom’s digital transformation and Vision 2030. The Company will accelerate its digital‑first, AI‑enabled operating model to enhance customer experience and efficiency, strengthen its position as a trusted ICT partner for enterprises and national initiatives, and scale Yaqoot and Tamam to deepen engagement and drive digital‑led growth, with disciplined risk and quality management underpinning long‑term value creation.

A CAPEX investment of over USD 555 million, primarily directed toward the rollout of 1,288 new sites, is delivering strong returns and reinforcing network superiority. To enhance the digital journey for its predominantly young customer base, the operator revamped its customer app, increasing monthly usage by 30% and materially growing online payment transactions, while enhancements to the website improved self‑care capabilities.

Zain Iraq continued to strengthen its commercial propositions, particularly through its KAFOO service, which is evolving into an app‑first product and has significantly attracted customers, driving revenue and data usage; device sales also contributed to revenue growth. The launch of Zain Mart, a new in‑house developed e‑commerce marketplace, recorded strong initial uptake during its soft launch, supported by promotions and a comprehensive go‑to‑market plan with targeted offers and seasonal campaigns tailored to a price‑sensitive market.

​Developed by the Company’s Digital Factory to ensure agility, operational efficiency, and scalability, Zain Mart aims to leverage Zain Iraq’s customer base, brand trust, and ecosystem touchpoints to drive adoption, offering same‑day delivery, multiple payment options including cash, cards, and BNPL, and a wide range of merchant partners. The operator also launched a new loyalty platform, Mamnoon, to support customer retention and acquisition through enhanced rewards and engagement.

Horizon deepened its engagement with key Iraqi government entities and national institutions, securing new agreements across multiple large‑scale government and enterprise projects, reinforcing Zain Iraq’s role as a strategic ICT partner in the country’s digital transformation.

Building on the many milestones achieved in 2025, Zain Iraq will continue to expand its network while advancing toward full 5G readiness. The Company will utilize AI and recent learnings to further enhance its customer app to drive higher levels of digital payments and transactions, strengthen its loyalty program to deepen engagement with its customer base, and enrich its KAFOO product offerings. A key priority will be accelerating growth in its high‑value enterprise business, targeting government entities and businesses of all sizes.

In 2025, Zain Sudan operated in an exceptionally complex environment, as ongoing conflict continued to impact infrastructure, power availability, and overall customer experience. Against this backdrop, the company prioritized resilience—optimizing existing assets, restoring critical network nodes where possible, and adapting its commercial strategies to mitigate inflationary pressures and currency depreciation.

These efforts drove a clear operational turnaround, with key performance indicators (KPIs) gradually recovering and showing marked improvement throughout the year. Zain Sudan balanced the stabilization of core services with revised pricing structures and accelerated growth in data, digital platforms, and enterprise ICT services to offset revenue pressures. The operator further strengthened its strategic positioning by advancing its mobile financial services offering.

Recognizing its critical role as a backbone for economic activity, humanitarian operations, and social resilience, Zain Sudan invested over USD 98 million in CAPEX. The company deployed 350 km of fiber as part of a replacement program and upgraded 68 km of microwave links to metro fiber across multiple cities. These initiatives boosted data network performance and significantly enhanced customer experience, contributing to a 122% year-on-year (YoY) increase in data traffic.

Operationally, Zain Sudan accelerated its recovery program, restoring 814 sites during the year, a 60% increase compared to 2024 and reactivating nearly 90% of its network in safe areas. This progress was enabled by strong technology-led initiatives, including reinstating a Knowledge Transfer Network to function as a disaster recovery site for Power Spectral Density (PSD), with full charging and circuit-switching capabilities.

As network coverage and service availability improved, Zain Sudan’s customer base expanded by 22% YoY to 12.3 million. Data revenue more than doubled (+108% YoY) and now represents 32% of total revenue, reflecting strong digital adoption across the market.

Financially, the company delivered outstanding results: revenue rose 92% YoY to USD 661 million, EBITDA grew 143% to USD 373 million (a margin of 56%), and net income reached USD 290 million. Zain Sudan consequently became the largest contributor to Zain Group’s net income in FY 2025, underscoring its remarkable turnaround and strategic value to the Group.

Zain Sudan successfully completed its Business Support System (BSS) transformation program in 2025. The initiative unified products and order management within a single governed commercial framework, enabling consistent omnichannel execution and end-to-end visibility across distribution, resources, and inventory.

The company enhanced credit management with AI-driven scoring tools, improving credit control and reducing default risk. This transformation also delivered a redesigned website, a new Zain App, and advanced Real-Time Transport Protocol capabilities—ensuring a consistent digital experience across all platforms. Additional initiatives included the introduction of a Value-Added Services (VAS) landing page with OTP verification to prevent unauthorized subscriptions, as well as the automation of repetitive call-center tasks, improving efficiency and customer satisfaction.

On the fintech front, Zain Sudan continued scaling its digital ecosystem with the launch of BEDE, the country’s first telecom-led mobile financial services application, in April 2025. Strong early adoption was achieved through targeted onboarding campaigns, resulting in 821,000 registered users and over 110,000 transactions in its first year. BEDE has strengthened customer engagement and expanded the role of mobile money in daily life across Sudan.

To broaden acceptance and drive transaction growth, Zain Sudan launched nationwide merchant acquisition campaigns across nine major cities. Over 5,000 merchants were onboarded through on-ground registration, cash-in stations, and digital payment activations, laying the foundation for sustained growth in mobile financial services.

Looking ahead, Zain Sudan remains committed to sustaining its market leadership and accelerating operational recovery. The company will continue to protect revenue and market share, deepen data monetization, and leverage selective local and international partnerships. Key priorities include restoring and re-engaging the customer base in recovered areas through targeted win-back and churn-control campaigns, expanding eSIM penetration, and enhancing the overall customer journey.

Supported by a stronger network, digital platforms, and an improving environment, Zain Sudan is well positioned to maintain its positive momentum and continue as a major contributor to Zain Group’s performance.

2025 was marked by sustained and balanced growth, driven by continued digital transformation and disciplined strategic execution. Zain Jordan’s customer base expanded 2% YoY to reach 4.2 million, while revenue grew 7% to USD 595 million. EBITDA increased 1% to USD 227 million, maintaining a robust margin of 38% supported by ongoing efficiency initiatives. Net income reached USD 75 million, underscoring the
Company’s resilience and consistent delivery of value to shareholders and customers alike.

Zain Jordan invested over USD 88 million in 2025 to strengthen its network and digital infrastructure, fueling stronger connectivity and service expansion. Continued efforts in accelerating 5G rollout and FTTH deployment led to a 15% increase in data revenue, which now accounts for 55% of total revenue, reflecting the rising appetite for high-speed digital experiences. The main 5G expansion, comprising approximately 400 new sites concentrated in northern regions of the Kingdom, brought total 5G sites to over 1,100. Meanwhile, FTTH progress in Irbid, Karak, and Mafraq connected more than 1.6 million homes, expanding the reach of fiber connectivity to more communities.

Zain Jordan’s device-led packages achieved a 65% increase in device-related revenue, supported by flexible installment plans, an expanded portfolio, and bundled offers for postpaid and mobile broadband customers. The enhanced Zain Jordan App and revamped digital portals boosted engagement, driving over 50% growth in customer interactions while reducing dependence on physical branches and call centers.

Within its ICT segment, Zain Jordan achieved strong momentum through major enterprise and government contracts across connectivity and digital services. This success reinforces its position as a trusted partner supporting national digitalization efforts. The company expanded integrated connectivity and Wi-Fi solutions for key government institutions, enhancing value creation and user experience across mission-critical environments.

Zain Jordan also advanced its enterprise digital capabilities through milestones in cloud and productivity solutions, securing its largest-ever Office 365 agreement and enabling more robust connectivity for strategic customers. Furthermore, its work in smart infrastructure, such as smart metering, continues to strengthen its role in driving the Kingdom’s digital modernization agenda.

The company’s achievements received wide industry recognition, with awards including Best Data Center, Best 5G Expansion, and Best Digital Transformation. These honors underscore Zain Jordan’s leadership in enterprise innovation, customer experience, and digital excellence, reinforcing its readiness for future growth.

Through continued innovation with AI initiatives at the forefront, targeted investments including a major BSS modernization project and a disciplined approach to execution, Zain Jordan remains firmly positioned to lead national digital transformation, elevate customer and enterprise experiences, and deliver sustainable value for all stakeholders.

In 2025, Zain Bahrain delivered a robust performance while continuing to advance its digital transformation agenda. Revenue grew 7% to USD 219 million, supported by sustained demand for digital services. The company reported EBITDA of USD 62 million, maintaining a 28% margin, while net income rose 1% to USD 16 million. Data revenue continued its upward trajectory, increasing 5% to represent 46% of total revenue, highlighting the growing adoption of data‑driven services.

Zain Bahrain’s strong operational execution during 2025 was marked by key milestones in network performance and customer experience. Independent benchmarking by Opensignal recognized Zain Bahrain as the Kingdom’s best network for coverage, quality, and overall gaming experience—further consolidating its position as Bahrain’s most awarded network and underpinning the Kingdom’s leading regional ranking in mobile network experience indices.

To strengthen its role as an enabler of Bahrain’s digital economy, the company invested USD 36 million in CAPEX, advancing strategic initiatives that support the Kingdom’s digital transformation. Zain Bahrain expanded its partnership with Ericsson to introduce advanced 5G solutions, including Edge User Plane capabilities enabling Industry 4.0 applications and next‑generation enterprise use cases. Complementing these advancements, the company enhanced its digital portfolio through new initiatives such as Zain Insure, offering seamless access to motor and travel insurance. It also relaunched its Signature program and revamped the Zain app, integrating AI‑powered omnichannel capabilities to enhance customer engagement

Zain Bahrain launched a new-generation mobile app in 2025 with enhanced security, performance, and optimized customer journeys to drive engagement and digital payments. Its AI‑powered chatbot and Bahraini‑dialect AI voice IVR played a pivotal role in boosting customer retention and acquisition.

The Zain Delight rewards program expanded to include more than 230 merchant partners, delivering additional value to customers. The introduction of Wiyyak, offering outbound roamers instant eSIM activation with high‑speed connectivity and flexible data plans, created new revenue streams and strengthened Zain Bahrain’s international mobility offerings.

Sustainability, inclusion, and national development remained at the heart of Zain Bahrain’s agenda in 2025. The company maintained a 93.33% Bahrainization rate, underscoring its longstanding commitment to developing local talent and being a leading employer of Bahraini nationals.

Environmental and community initiatives included the deployment of high‑capacity EV chargers at the company’s headquarters, participation in national tree‑planting campaigns, and expansion of employee wellbeing programs. Zain Bahrain also introduced the first local edition of Zain Great Idea, an initiative supporting entrepreneurship and innovation in line with the National Innovation Strategy.

Zain Bahrain’s unwavering focus on innovation earned it recognition for excellence in customer experience, particularly through the use of AI and omnichannel technologies to deliver seamless, customized interactions and elevate the customer journey.

BEDE, the company’s fintech arm, recorded another year of rapid growth in 2025. The platform advanced financial inclusion by offering accessible, instant, and Sharia‑compliant micro‑financing solutions. Its capital increased 20%, reflecting market confidence and its pivotal role in Bahrain’s evolving financial landscape.

BEDE strengthened its strategic partnerships by signing agreements with Mastercard for card services, NEC for remittance capabilities, and Sinnad as well as various schools and merchants to expand its reach and impact.

Looking ahead, Zain Bahrain remains focused on operational excellence and disciplined execution across all key business drivers. The company is accelerating its evolution from a traditional telecom operator into a leading provider of integrated ICT solutions powered by AI, fully aligned with Bahrain’s Economic Vision 2030 and its national digital transformation priorities.