Investor Relations
Investor Relations
Some things in life you can rely on - Etisalat. Reach out. The world’s waiting.

Corporate Information


Etisalat Group offers a range of communication services to consumers, businesses, and government segments in multiple regions. Our portfolio of products and services include mobile, fixed broadband, TV, voice, carrier services, cloud and security, internet of things, mobile money, and other value added services.

Our operations are spread across three geographic regions in the Middle East, Africa, and Asia. We operate in sixteen countries and are the number one or two operator in terms of value share in most of these countries. Our operations in mature markets experienced slower revenue growth due to stricter regulations and more competitive environments but continued to generate strong cash flow. In emerging markets, revenue growth was stronger, supported by growth in our subscriber base and higher penetration of our services due to rapid smartphone adoption. Etisalat has one of the highest credit ratings in the telecom sector (AA-/Aa3) , reflecting the company’s strong balance sheet and proven long-term performance.

Digitalisation is a key operational theme for the telecoms industry given the impact it has on cost savings from automation while enhancing customers’ experience and generating incremental revenue opportunities. Consequently, the Etisalat Group has taken this opportunity to develop an overarching vision, which is both powerful and digitally inspired: Drive the Digital Future to Empower Societies. This vision has guided the Etisalat Group in its transition from a traditional telecom operator to an integrated digital solution provider, which in turn is enabling the group to fortify its industry-leading position. In support of this vision, the Etisalat Group’s “TARGET” strategy highlights and rejuvenates the group’s priorities, focus areas, direction, and ambitions.

The group and its operating companies have sustained their investment in network infrastructure, spectrum licenses, and the latest technologies with the aim of empowering customers, shareholders, and society.

In 2019, Etisalat launched eWallet, a new mobile digital payment service aimed at empowering UAE customers with safe, convenient, and flexible payment solutions. In addition to achieving the fastest speed on its 5G standalone network, Etisalat enabled 5G networks across several key sites in the UAE. As part of Maroc Telecom’s international development strategy and plan to consolidate the group’s presence in Africa, Maroc Telecom completed the acquisition of Tigo Chad. Meanwhile, Onatel successfully launched 4G services in Burkina Faso. In addition, Mobily was granted a fixed line service license by the Saudi Communications and Information Technology Commission, allowing the company to become a fully integrated telecom operator. In Egypt, Etisalat Misr signed agreements with Telecom Egypt to provide its customers with virtual fixed voice and bitstream services, maximising their customers’ interest.

Etisalat maintained its practice of high cash generation, in order to continue to reward its shareholders and grow its business. The group sustained a generous dividend program with close to AED 21 billion returned to shareholders over the past three years. Since its inception, Etisalat has committed to a high level of capital expenditure to support wider coverage, higher speeds, and greater capacity in its networks. The company’s investments in its own infrastructure and assets are ultimately investments in the regions in which it operates. In support of the UAE’s vision of developing a competitive knowledge economy, Etisalat is proud to have become one of the top ten most improved fixed broadband networks in the world in 2019. The upgrade was made possible by Etisalat’s robust fibre infrastructure, which in terms of penetration maintained the number one position globally for the third consecutive year. Such developments have played a major role in the UAE sustaining its position as the region’s business, trade, and foreign investment hub by providing reliable, high quality services for over four decades.

In the coming years, the Etisalat Group will hold on to this leadership position via focused network investments with 5G spearheading in key markets, with particular emphasis on the digital and ICT segments. We will maintain focus on international operations as an engine for growth while emphasizing the digital space as the prime driver for sustainable growth across all markets. By continuing to create the world’s best networks, the Etisalat Group will continue delivering long-term value for the societies in which it operates and returns to its shareholders.

Corporate History


• Emirates Telecommunication Corporation is founded


• Emirates Telecommunications Corporation launches the Middle East’s first mobile network


• The organization’s ownership structure changes, with the United Arab Emirates government owning a 60% share in the company and the remaining 40% publicly traded


• The Middle East’s first GSM service is introduced in the UAE

• Etisalat launches Emirates Data Clearing House, which is now one of the world’s leading clearing houses providing a complete solution to GSM operators to offer roaming facilities to their customers


• Internet services are rolled out across the UAE, another first in the region


• Etisalat becomes one of the founding investors in satellite telecommunications provider, Thuraya


• The Middle East’s first broadband Internet service using the latest ADSL technologies is introduced

• Etisalat buys a stake in Tanzanian operator Zantel, a first step toward becoming a major international telecom group


• Etisalat introduces the E-Vision brand for its cable TV services


• Etisalat launches the Middle East’s first 3G network


• Etisalat wins the second license in Saudi Arabia, introducing Etihad Etisalat, Mobily

• Etisalat buys a stake in Canar, a fixed line operator in Sudan


• Etisalat acquires a stake and takes management control of PTCL, the incumbent fixed operator in Pakistan

• Etisalat expands into West Africa by taking a stake in Atlantique Telecom with operations in Benin, Burkina Faso, the Central African Republic, Gabon, Ivory Coast, Togo, and Niger


• Etisalat wins the third mobile license in Egypt and launches the country’s first 3G network

• Etisalat is awarded a license to provide mobile services in Afghanistan

• Etisalat Services Holding is formed to manage eight business units that offer mission-critical telecom related services


• Etisalat acquires a stake in green-field operator EMTS in Nigeria, the largest and fastest growing market in Africa


• Etisalat completes the rollout of a nationwide fibre optic backbone in the UAE


• Etisalat acquires Tigo, a Sri Lankan operator, which later rebrands to Etisalat Lanka


• Etisalat introduces 4G (LTE) experience to its customers in the UAE


• Etisalat wins 3G licenses in Afghanistan and Ivory Coast and launches the first 3G services in Afghanistan


• Etisalat completes the acquisition of a 53% shareholding in Maroc Telecom from Vivendi

• Etisalat successfully issues its inaugural bond under its Global Medium Term Note (GMTN) programme, which is listed on the Irish Stock Exchange


• Etisalat Group completes the sale of its operations in Benin, Central African Republic, Gabon, Ivory Coast, Niger, Togo, and Tanzania

• UAE federal government allows foreign and institutional investors to own up to 20% of Etisalat Group’s shares

• Inclusion of Etisalat in the MSCI indexes


• Etisalat Group completes the sale of Etisalat’s 92.3% shareholding in Canar

• Etisalat Misr acquires a 4G license and fixed virtual license in Egypt

• Inclusion of Etisalat Group in the FTSE Russell Emerging Markets Index


• Etisalat Misr launches 4G services in Egypt

• Etisalat launches new mobile brand Swyp, targeting the youth segment in the UAE

• Etisalat Group ceases operations in Nigeria

• Etisalat successfully completes the fastest 5G live trial globally, reaching 71 Gbps


• Etisalat Group’s shareholders approve a share buyback program involving 5% of the capital

• Etisalat Group exits Thuraya and merges its operation in Sri Lanka with CK Hutchison

• Maroc Telecom acquires 4G licenses in Mali and Togo

• Etisalat is recognized as the most valuable brand in the MENA region


• Etisalat Group lifts restrictions on foreign shareholders voting rights

• Maroc Telecom acquires Tigo Chad from Millicom

• Etisalat launches eWallet, a mobile digital payment service

• Etisalat enables 5G network across several key sites in the UAE

• Onatel launches 4G services in Burkina Faso

• Etisalat is awarded the most valuable consumer brand by Brand Finance