Connect with us

Latest News

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

Published

on

KUWAIT: 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 technologies that 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.”

No Image

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 percent 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 as setting up grievance mechanisms.

Zain trained 185 suppliers in 2024 in Zain’s Supplier Code of Conduct, human rights and anti-corruption. Additionally, Zain continued its Supplier Self-Assessment questionnaire process with 604 suppliers 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 around 114,000 jobs across its value chain.

Inclusion: Aiming to reduce the digital inequality gap, the fourth cycle of ‘Women in Tech’ program launched in Kuwait, Bahrain, Iraq, Jordan, Saudi Arabia and Sudan to better address the needs of the target community through focus groups, surveys, and feedback sessions. A total of 485 young women joined the program across the Group, reflecting a 16 percent 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 4 SIGHT 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 globally on 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 time focusing on both children and parents, reaching 43.9 million impressions and prompting 82 percent of viewers to set screen time boundaries. Polls undertaken of the successful campaign indicated a 100 percent 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. ‘The New Paradigm Shift’ is accessible in a digital-only format and can be downloaded here.

Latest News

Kuwait issues $11.25bn bonds | Kuwait Times Newspaper

Published

on

By

KUWAIT: Kuwait announced the issuance of sovereign bonds worth $11.25 billion, divided into three tranches, marking its first successful return to global debt markets since 2017. The issuance attracted overwhelming investor demand and was priced at “one of the tightest spreads ever for a sovereign issuer in emerging markets”.

Kuwait passed a new public debt law in March, after the previous one expired years ago. That raised the borrowing ceiling to KD 30 billion ($98.24bn) from KD 10 billion previously and allowed for the possibility of longer borrowing terms.

In a press statement on Wednesday, the ministry of finance said the issuance comprised a $3.25 billion tranche with a three-year maturity at (+40) basis points over US Treasuries, a $3 billion tranche with a five-year maturity at (+40) basis points, and a $5 billion tranche with a 10-year maturity at (+50) basis points. The ministry noted that “these spreads are significantly lower than Kuwait’s inaugural sovereign issuance in 2017”.

The ministry added that the offering was oversubscribed by 2.5 times, with the order book reaching $28 billion. More than 66 percent of allocations went to investors outside the Middle East and

North Africa region, including 26 percent from the United States, 30 percent from Europe and the United Kingdom and 10 percent from Asia.

Acting Minister of Finance, Minister of Electricity, Water and Renewable Energy, and Minister of State for Economic Affairs and Investment Dr Subaih Al-Mukhaizeem said the historic issuance reflects global market confidence in Kuwait’s financial strength, prudent policies and solid reserves. He added that the strong demand and competitive pricing reaffirm Kuwait’s position as a distinguished sovereign issuer, stressing that the issuance not only meets financing needs but also strengthens Kuwait’s presence in global markets and supports its partnerships with international investors in line with the New Kuwait 2035 vision.

Kuwait’s issuance is considered one of the largest sovereign bond offerings globally in 2025, generating one of the biggest order books this year — underscoring investor confidence in the fundamentals of Kuwait’s economy and its long-term reform program. The issuance was jointly led by Citi, Goldman Sachs International, HSBC, JPMorgan and Mizuho as global coordinators, with the participation of Bank of China and Industrial and Commercial Bank of China as passive joint bookrunners. — Agencies

Continue Reading

Latest News

Revamped Shuwaikh Beach reopens | Kuwait Times Newspaper

Published

on

By

KUWAIT: Minister of State for Municipal Affairs and Minister of State for Housing Affairs Abdullatif Al-Meshari praised the efforts behind the redevelopment of Shuwaikh Beach, extending special thanks to the National Bank of Kuwait (NBK) for its generous contribution that made the project possible.

Speaking at the inauguration ceremony on Wednesday, Al-Meshari said the reopening of Shuwaikh Beach in its new form marks the start of wider efforts to upgrade Kuwait’s coastal areas. “This is a genuine step toward humanizing vital and touristic sites and transforming them into safe and enjoyable spaces for citizens and residents alike,” he noted.

The minister revealed that similar waterfront initiatives are underway, with new projects planned in Sulaibikhat and Jahra to be announced soon. He also confirmed that the Municipality is restructuring its projects sector to adopt new mechanisms for launching major developments, adding that more announcements will follow in the near future.

On housing, Al-Meshari said contracts for the South Sabah Al-Ahmad and South Saad Al-Abdullah housing projects have been awarded. Construction progress at South Saad has already exceeded 15 percent, with land delivery expected by 2028.

Capital Governor Sheikh Abdullah Salem Al-Ali Al-Sabah stressed the Shuwaikh Beach project reflects Kuwait’s ongoing commitment to enhancing its waterfronts and transforming them into modern, integrated public spaces. He said the new beach was designed as a model recreational environment, featuring modern facilities, green areas and dedicated zones for sports, leisure and social activities.

“This project is the beginning of a series of developmental initiatives that embody the leadership’s vision for a brighter future,” he said, urging citizens and institutions to preserve the beach’s cleanliness and sustainability so it remains a landmark for generations to come.

Deputy Director General for Projects Sector Affairs at Kuwait Municipality Maysa Boushehri described Shuwaikh Beach as a milestone achievement. “This project demonstrates the importance of public-private partnerships, with NBK’s generous support and the cooperation of various government ministries,” she said.

Boushehri emphasized sustainability as a central design principle, citing recycled materials used for the jogging track, accessible play equipment for people with disabilities, and wheelchair-friendly pathways for the elderly and special-needs visitors. She added that the project also addressed previous environmental challenges and upgraded infrastructure to create a cleaner, healthier and more sustainable public space. “We hope Shuwaikh Beach becomes a landmark destination that combines modernity, sustainability, and community spirit,” Boushehri concluded.

Continue Reading

Latest News

Kuwait, UK leaders discuss strengthening bilateral ties

Published

on

By

Crown Prince, Starmer exchange calls • Coast Guard discusses security with UK official

KUWAIT: Kuwait and the United Kingdom have reaffirmed their strong bilateral relations in a series of high-level discussions this week, covering diplomacy, regional security, and maritime cooperation. His Highness the Crown Prince Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah received a telephone call on Wednesday from UK Prime Minister Keir Starmer to review the “distinguished and close” relations between the two countries and explore ways to further enhance them.

Prime Minister Starmer wished His Highness continued health and wellbeing, and expressed hopes for Kuwait’s ongoing progress and prosperity under the wise leadership of His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah. In response, the Crown Prince thanked the Prime Minister, describing the communication as a reflection of the “deep and solid” ties between the two friendly nations. He emphasized the shared commitment to further strengthen historical relations and expand cooperation across all fields, wishing continued prosperity to the UK and its people.

According to a statement from the UK foreign affairs department, the Prime Minister said the UK would work with close allies including Kuwait to implement President Trump’s peace plan for Gaza. The Prime Minister added that he felt a strong sense of responsibility that this plan delivered an end to the fighting in Gaza and a long-term pathway to peace.

His Highness the Prime Minister Sheikh Ahmad Al-Abdullah Al-Ahmad Al-Sabah chairs a meeting of the the Supreme Defense Council.

His Highness the Prime Minister Sheikh Ahmad Al-Abdullah Al-Ahmad Al-Sabah chairs a meeting of the the Supreme Defense Council.

In parallel developments, His Highness Sheikh Ahmad Al-Abdullah Al-Ahmad Al-Sabah, Prime Minister and Chairman of the Supreme Defense Council, presided over a meeting of the council at Bayan Palace to review key regional developments and recent international affairs.

On the security front, Kuwait’s Coast Guard Director-General, Commodore Mubarak Ali Al-Sabah met with the UK’s Vice Admiral Edward Ahlgren to discuss shared security interests and ways to enhance cooperation. The meeting took place at Sabah Al-Ahmad Coast Guard Base and included senior Coast Guard officials.

During the visit, Commodore Mubarak Al-Sabah highlighted the “historical depth” of Kuwait-UK relations and the ongoing development of military and security cooperation. Admiral Ahlgren was briefed on recent updates at the Coast Guard, including the new coastal monitoring system and the integration of naval drones into Kuwait’s maritime fleet. The visit underlined both countries’ shared commitment to strategic cooperation in security and maritime domains, aiming to strengthen regional stability and safeguard mutual interests. — Agencies

Continue Reading

Trending

Copyright © 2025 SKUWAIT.COM .