Page 29 - SAMENA Trends - April-May 2021

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

local edge.” The Company expects to multiple of 6.5x revenue. Salman Abdulaziz the Arab music industry. We are pleased
have approximately $142 million of cash Al-Badran, CEO of Mobily commented, “We to see our investee, Anghami, achieve a
on its balance sheet at closing to be used are proud to be a shareholder in Anghami NASDAQ listing and are confident that this
primarily to fuel additional growth. The since late 2013 – we believed in them early is first of many more to follow the same
transaction implies an initial pro-forma on as it was our second investment through trajectory, from both KSA and the region.
enterprise valuation of approximately $220 our VC arm, Mobily Ventures. Anghami’s At Mobily, we will continue to support the
million, or 2.5x 2022 estimated revenues. phenomenal success is owed primarily to startup eco-system through investments
This compares to Spotify’s current revenue their amazing team, who have re-defined and partnerships.”

Mobily Partnered Nokia to Deploy NB-IoT1800MHz Network

Saudi Arabian cello Mobily has partnered in central, north and east Saudi Arabia, partners highlighted a wide range of
Nokia to deploy NB-IoT 1800MHz network where Nokia is the network vendor partner, NB-IoT commercial uses such as smart
coverage connecting more than 4,000 sites providing IoT connectivity for enterprises metering for utilities, powering connected
with cell radius averaging 20km per cell, in verticals such as energy, transport and health and industrial appliances, and
and offering new services to enterprise health, enabling wider coverage ideal smart city infrastructure.
customers. NB-IoT has been enabled for rural and deep indoor locations. The

Omantel and OOMCO Sign an Agreement to
Launch Middle East’s First Smart Ahlain Store

Omantel, the Sultanate’s first and leading
integrated telecommunications services
provider, has signed a Memorandum of
Understanding with Oman Oil Marketing
Company (OOMCO) to accelerate digital
transformation across Oman. The
agreement will enable the first Artificial
Intelligence and IoT-powered Smart Store
in Oman and in the Middle East, with an
enhanced queue-free, cashless, and grab-
and-go shopping experience. The MoU
outlines the strategic partnership between
the two industry leaders. Omantel will
supply the necessary smart technologies.
OOMCO will bring a new mix of products
compatible with the store’s technologies,
leading the retail and convenience store
industry towards an enhanced, intelligent
and cost-effective future. Commenting on important economic sectors into thriving, wait at the billing counter or use cash or
the partnership, Talal Said Al Mamari, CEO digitally interconnected ecosystems a card to check out. Combining Artificial
Omantel said, “Innovation forms the core fueling overall economic growth. This Intelligence, smart shelf sensors, cameras
of all Omantel operations and services. MoU with OOMCO for the Smart Ahlain and an app linked to a mobile wallet,
Oman is on a fast track to digitalization Store is one more step towards meeting the Ahlain Store concept is expected to
on every front. For this to happen, superior Oman’s long-term digital transformation become operational in the second half
connectivity, a solid infrastructure and goals. We are proud to be the first service of this year. Hussain Jama Bait Ishaq,
technological know-how are imperative provider to introduce this concept and OOMCO’s Acting CEO, said, “Our goal is to
and Omantel boastsall these assets and invest in such technology in Oman and the add value to all our customers’ lives and
more. The company is optimally harnessing Middle East as we continue our journey of enrich their shopping experiences across
the potential of emerging technologies innovations.” Retail IoT is revolutionizing all our services. Being the first smart store
like AI and IoT and is an enabler and an the way people shop, adding more ease of its kind in the Middle East, the Smart
important catalyst in the metamorphosis of to their experience as they do not have to Ahlain store provides a unique shopping

29 APRIL-MAY 2021