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Zain publishes 14th annual ‎sustainability report, titled ‎‎‘The New Paradigm Shift’‎

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KUWAIT CITY, Apr 23: Zain Group, a leading provider of innovative ICT and digital ‎lifestyle communication services operating in eight markets ‎across the Middle East and Africa, released its 14th annual ‎sustainability report, entitled: ‘The New Paradigm Shift,’ ‎reflecting the company’s dedication to responsible business ‎practices. Zain remains one of the most transparent and ‎accountable corporate entities in the entire Middle East and ‎North Africa region with respect to the publication of its ‎sustainability programs and their outcomes.‎

As in previous years, the report reflects Zain’s commitment to ‎meaningful connectivity that leads to equitable systemic ‎change and empowers the communities that Zain proudly serves, ‎which is at the center of Zain’s Corporate Sustainability ‎strategy on development and economic empowerment. ‎

‎‘The New Paradigm Shift’ highlights the numerous ‎sustainability programs and their outcomes implemented under ‎the four pillars of Zain’s corporate sustainability strategy – ‎namely ‘Climate Change; Operating Responsibly; Inclusion; and ‎Generation Youth’; that embrace and emphasize the material ‎importance to the company of addressing issues related to ‎preserving the planet and safeguarding it for future ‎generations; access to connectivity and reducing the digital ‎literacy gap; displacement; as well as employee development ‎and social well-being, given the rise in geo-political and ‎economic issues regionally.‎

Commenting on the publication, Zain Group Chief Sustainability ‎Officer, Jennifer Sulieman said, “We are in an era of ‎technological innovation that allows us to develop and ‎introduce initiatives that are the most impactful they have ‎ever been. Zain takes responsibility as a regional pioneer in ‎bringing the latest technologiesthat drive positive societal ‎development and meaningful connectivity across our footprint.”‎

Suleiman continued, “What Zain does matters, and we continue ‎to implement ESG principles, climate action, children rights, ‎displacement, connectivity, advancing digital transformation, ‎literacy, and stakeholder collaboration to build resilience, ‎so that amid socio-economic challenges and regional conflicts, ‎Zain may remain a beacon of hope, delivering life-changing ‎solutions for the benefit and upliftment of current and future ‎generations.”‎

Key highlights

During 2024, the company’s agenda continued to be driven by ‎efforts to address socio-economic and environmental challenges ‎across its footprint. Zain cemented the four pillars of its ‎sustainability strategy through a comprehensive engagement ‎process with various stakeholders. These included:‎

Climate Change:Focused on decarbonizing the business and ‎transition towards Net-Zero by 2050 by receiving official ‎approval from SBTi on its Net-Zero targets, Zain developed its ‎water management plan to the unique conditions of each country ‎operation. The plan detailed specific measures aimed at ‎improving water usage across all of Zain’s markets that saw ‎the company achieve a 5.89% reduction of water consumption in ‎comparison to 2023.‎

Furthermore, Zain continued in its commitment to CDP and ‎provided its Climate Change Action, demonstrating a commitment ‎to biodiversity conservation and nature preservation as ‎integral components of its broader dedication to climate ‎action. For example, Zain Omantel International (ZOI) requires ‎its partners to conduct thorough environmental impact ‎assessments aligned with regulatory and international ‎standards. ‎

Operate Responsibly: Embedding Environment, Social, and ‎Governance (ESG) principles across the entire value chain, the ‎company further developed and scaled the supplier training ‎program, launching its second training video highlighting the ‎importance of upholding human rights, promoting ethical labor ‎practices, as well assetting up grievance mechanisms. Zain ‎trained 185suppliers in 2024 in Zain’s Supplier Code of ‎Conduct, human rights and anti-corruption. Additionally, Zain ‎continued its Supplier Self-Assessment questionnaire process ‎with604suppliers groupwide to validate their commitment and ‎alignment to sustainability policies and ethical principles.‎

In addition, the company continued to contribute to employment ‎opportunities through Zain’s distribution channel, in 2024 the ‎company generated around114,000 jobs across its value chain.‎

Inclusion:Aiming to reduce the digital inequality gap, the ‎fourth cycle of ‘Women in Tech’ program launched inKuwait, ‎Bahrain, Iraq, Jordan, Saudi Arabia and Sudanto better address ‎the needs of the target community through focus groups, ‎surveys, and feedback sessions. A total of 485young women ‎joined the program across the Group, reflecting a 16% increase ‎from 2023.Similarly, to better serve customers from the ‎disability segment, the company provided specialized bundles ‎for this demographic in Bahrain, Jordan, Kuwait and Saudi ‎Arabia. ‎

Zain continued to place a high priority on enhancing the ‎skills of its employees either by upskilling or reskilling its ‎workforce in line with the company’s 4SIGHT digital ‎transformation strategy. The Zain Inclusion, Diversity, & ‎Equity University (IDEU) continued its collaboration with the ‎prestigious IE University in Spain with the aim of extending ‎learning opportunities to 2,000 Zain employees to participate ‎in an inclusive online Digital Transformation program, also ‎offering the possibility of attaining a master’s degree. ‎

Generation Youth:Aimed at building resilience across ‎communities by targeting 16 million children and youth, the ‎company was recognized amongst 3,000 of the largest ‎corporations globallyon key children’s rights categories, ‎whereby the company scored higher than the sector and industry ‎averages, tripling the ranking of many regional corporates. In ‎the benchmarking rankings, Zain scored 8.4/10 overall against ‎a sector average of 5.6/10 and a regional average of 2.8/10. ‎The average of all companies benchmarked was 4.3/10.‎

As an advocate for children’s rights and in alignment with the ‎UN’s Sustainable Development Goal 16.2, which aims to end all ‎forms of violence against children by 2030, Zain continued to ‎support the cause by introducing a powerful campaign in ‎response to the rising global violence that is impacting ‎children disproportionately. This initiative followed the ‎escalating crises and conflicts worldwide, where children are ‎bearing the brunt of severe hardships and violence, affecting ‎their physical and mental well-being.The campaign, titled ‎‎#EveryChildHasRights, was designed to highlight the critical ‎threats faced by children in conflict-affected regions and ‎support for their protection. It included a compelling video ‎underscoring the urgent need to safeguard children’s rights, ‎engaging audiences in meaningful and emotional dialog. Through ‎this campaign, Zain aimed to create a global call to action ‎and foster a deeper understanding of the pressing issues at ‎hand. The campaign successfully garnered 16.5 million ‎impressions across Zain’s footprint during 2024, amplifying ‎its message and driving significant awareness on this crucial ‎issue.‎

Also in 2024, Zain launched a two-phase campaign on excessive ‎screen timefocusing onboth children and parents, reaching 43.9 ‎million impressions and prompting 82% of viewers to set screen ‎time boundaries. Polls undertaken of the successful campaign ‎indicated a 100% increased awareness on managing screen use.‎

Moreover, Zain continued its partnership with Child Helpline ‎International (CHI), advancing its three-year MoU to support ‎and improve the effectiveness of child helplines across Zain’s ‎footprint. This collaboration strengthens engagement between ‎helplines and key child protection stakeholders, including ‎governments and regulators, while advancing platform ‎technologies and expanding services to instant messaging and ‎social media.‎

Towards the end of 2024, Zain unveiled a new enhanced five-‎year corporate strategy, ‘4WARD-Progress with Purpose’. The ‎new program builds on the success of the 4SIGHT strategy and ‎is focused on continuity, acceleration, collaboration and ‎innovation, and is designed to foster value creation by ‎accelerating the company’s evolution from a predominantly ‎mobile centric operator into a purpose driven and ‎sustainability focused technology entity. Zain looks to ‎maximize its full potential as a customer-centric, future-‎proof, and impactful leading regional TechCo conglomerate, and ‎its sustainability strategy will be adapted accordingly. ‎

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Real estate transactions dip sharply in Kuwait

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KUWAIT CITY, Sept 9: The real estate market witnessed a significant decline in the number and value of transactions in the first week of September, compared to the same period last year, as well as the last week of August. This is a clear indication that the market has entered a period of relative calm and investment anticipation driven by seasonal factors and qualitative shifts in transactions, particularly commercial real estate, which accounted for about 60 percent of the total trading value during the week, compared to only three transactions. It reflects the interest of major institutions or entities in ‘heavy’ commercial transactions. The weekly report of the Real Estate Registration and Documentation Department at the Ministry of Justice for the period from Sept 1 to 3 showed that the number of real estate transactions was 62, with a total value of KD83.92 million.

These include 37 private transactions worth KD 13.5 million, 22 investment transactions worth KD 17.6 million, and three commercial transactions worth KD 52.8 million. Compared to the first week of September 2024, weekly trading recorded a decline of approximately 39 percent in the number of transactions, compared to a 16.8 percent increase in total value due to the completion of qualitative commercial deals. The number of transactions during that period reached 101, valued at KD 69.8 million, reflecting a quantitative decline versus a qualitative increase in transactions on an annual basis. Compared to trading during the fourth (and final) week of August 2025, the decline was more severe, with 139 transactions recorded, valued at KD 163.24 million.

This is a decline of approximately 55 percent in the number of transactions (77 transactions) and a 49 percent decrease in the value or KD 79.32 million. It is a clear indication that the market has entered a short-term slowdown after a remarkable wave of activity in August. Regarding private real estate transactions, they declined from 89 in the last week of August to just 37, a decrease of nearly 58 percent. The value also fell from KD 33.4 million to KD 13.5 million — by KD19.9 million, a decrease of nearly 60 percent. This indicates a decline in residential ownership activity due to travel or investors’ anticipation of market movements following the recent enactment of several real estate laws. Despite the decline in the number of investment transactions from 28 in August 2025 to 22 in September, the value of transactions increased to KD 17.6 million, compared to KD 15.3 million in August. It means continued demand for investment properties and the search for attractive, quality opportunities. As for commercial transactions, only three transactions were recorded this week, worth KD52.8 million or 60 percent of the total weekly trading value. It shows the execution of quality deals and investors’ focus on quality transactions and assets with long-term returns.

By Marwa Al-Bahrawi
Al-Seyassah/Arab Times Staff

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Kuwait urges GCC tax reform for economic integration

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Kuwait urges GCC tax reform for economic integration

Undersecretary of the Kuwaiti Ministry of Finance, Aseel Al-Munifi

KUWAIT CITY, Sept 9: Undersecretary of the Kuwaiti Ministry of Finance, Aseel Al-Munifi, on Tuesday emphasized the need to develop the tax system and achieve financial sustainability to promote economic integration among Gulf Cooperation Council (GCC) member states.

Speaking at the 15th meeting of the Committee of Heads and Directors of Tax Administrations in GCC countries in Kuwait, Al-Munifi said the meeting is part of ongoing efforts to coordinate GCC tax authorities and develop mechanisms to unify joint tax policies that serve the interests of member states and their populations.

She expressed hope that the annex to amend the unified excise tax agreement would be signed at the upcoming financial and economic cooperation meeting scheduled in Kuwait next October, which will bring together the GCC finance ministers. Al-Munifi also commended the heads and directors of tax authorities and the Unified Tax System Working Group for their efforts in preparing studies, working papers, and recommendations.

Khalid Al-Sunaidi, Assistant Secretary-General for Economic and Development Affairs at the GCC General Secretariat, said the meeting continues the process of cooperation among GCC countries in tax policies. He noted that the aim is to unify tax frameworks, enhance economic integration, and support competitiveness at the regional and international levels.

Al-Sunaidi added that discussions at the meeting included outcomes from the GCC Unified Tax System Working Group on redefining energy drinks to reduce the consumption of unhealthy products, and plans to establish a comprehensive electronic system for all types of indirect taxes, alongside other related topics.

During the meeting, GCC tax heads and directors reviewed recommendations and decisions from the 14th meeting and previous sessions, submitting them to the undersecretaries of finance in the GCC. It was agreed to form a technical working group to develop the electronic system for indirect taxes and to redefine energy drinks in the Unified Excise Tax Agreement according to international definitions and classifications.

The 15th GCC Tax Committee meeting held in Kuwait.

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Kuwait aims to attract value-added direct investments

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KUWAIT CITY, Sept 9: The Kuwait Direct Investment Promotion Authority (KDIPA) on Monday announced that BlackRock has obtained regulatory approvals and commercial licenses to operate in Kuwait, reflecting confidence in the country’s economic development.

KDIPA Director General Sheikh Dr. Meshaal Al-Jaber Al-Ahmad Al-Sabah told KUNA that Kuwait is committed to attracting value-added direct investments, with a strong focus on developing national competencies, strengthening long-term partnerships, and ensuring sustainable growth based on knowledge.

BlackRock CEO and Chairman Larry Fink said the company values its decades-long partnership with Kuwait and looks forward to reinforcing it through a direct presence in the country, contributing to the financial system, and supporting the development of national competencies.

The initiative aims to achieve several strategic objectives, including enhancing mutual trust between the company and its clients and supporting Kuwait’s “New Kuwait 2035” vision, in line with BlackRock’s broader goal of contributing to the development of capital markets in the Middle East.

BlackRock will start operations in Kuwait with an office that includes a customer service team, a financial advisory team, and an Aladdin system team, enabling the provision of advanced investment solutions and services. Ali Al-Qadi has been appointed head of the Kuwait office while continuing his role as head of client team management for both Kuwait and Qatar.

The Capital Markets Authority of Kuwait officially granted a license to BlackRock Advisors – United Kingdom Limited to operate as an investment advisor in Kuwait. The authority described this as a step that underscores Kuwait’s growing position on the global financial map, noting that BlackRock is one of the world’s largest asset managers.

The CMA said the move marks a milestone in developing Kuwait’s financial market and confirms the country’s ability to attract major international institutions, aligning with national efforts to consolidate Kuwait’s vision as a leading global financial and commercial center.

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