Prime Highlights
- Zain’s net income surged 51% to a 15-year high of $260 million.
- Teams maintained uninterrupted connectivity across all markets during regional challenges.
Key Facts
- Zain Group is a leading TechCo operating across eight markets in the Middle East and Africa.
- The group’s brand valuation rose 16% year-on-year to reach $4 billion, the highest in Kuwait’s private sector.
Background
The Zain Group managed to deliver a remarkable performance during the first quarter of 2026, whereby the company posted its consolidated revenue up by 6% to KD569 million ($1.86 billion). Net income at Zain Group grew by 51% to reach KD80 million ($260 million), which marked a new record in 15 years and an earnings per share of 18 Fils. EBITDA also grew by 6% to reach KD182 million ($594 million), indicating a 32% EBITDA margin for the period.
Some of the contributing markets include Sudan, whose revenue grew by 34%; Iraq, whose revenue grew by 14%; and Jordan, which recorded a revenue growth of 5%. In addition, the net income for Zain KSA was up by 116%, whereas that for Zain Iraq went up by 12%. Furthermore, data revenues were up by 18% to $751 million or 40% of total group revenues. Fintech services across Kuwait, Bahrain, Sudan, KSA, Jordan, and Iraq recorded revenue growth of 28% and a 38% increase in customers. New growth verticals contributed $227 million, representing 12% of total revenues, while Zain Ventures recorded strategic investment gains of $123 million for the quarter.
Bader Al-Kharafi, Zain Vice-Chairman and Group CEO, said the strong first-quarter performance was built on solid operational execution across key markets and growing contributions from new business verticals and a profitable investment strategy. Further, he mentioned that the company continues to be dedicated to improving the customer experience using artificial intelligence. In addition, Al-Kharafi stressed that all necessary connections were retained throughout the challenging times in the region regarding remote working, learning, and other essential services.
Concerning the infrastructure initiatives, Zain and Ooredoo’s tower partnership continued to make steady progress, securing all necessary regulatory approvals in Qatar. It is important to mention that the TASC Towers team has successfully achieved readiness for operation, with the first tower to be acquired by June 2026.
