ABU DHABI, UAE, Jan. 17, 2024 /PRNewswire/ -- With the successful transformation of e& to a technology group, e& has flourished into a leader of Middle Eastern and African (MEA) brands. The 2024 Brand Finance Global 500 Report unveiled at the World Economic Forum (WEF) in Davos today confirmed e& as MEA's Fastest Growing Technology Brand and the most valuable brand portfolio in MEA.
The annual report on the world's most valuable and strongest brands highlighted e&'s evolution into a global technology and investment group fuelled by a performance that saw its brand portfolio skyrocket to US$17 billion in 2024. The 15 per cent increase from last year solidifies stakeholder confidence and cements e&'s position as the Most Valuable Brand Portfolio in Middle East & Africa 2024.
Hatem Dowidar, GCEO of e&, said: "The renewed endorsement from Brand Finance is yet another sign of the successful transformation of the company into a global technology group. We launched the e& brand only two years ago, and it is wonderful to see the brand's vitality and strength in the technology sector in MEA after such a short period. We are also similarly delighted with etisalat by e& being ranked as the strongest telecom brand in the world. Great achievements now, and of course this only increases our aspirations for the future."
e&'s evolution from telecom brand leader to MEA's fastest-growing tech brand underscores the progress of the Group's transformation. Dowidar said that to better serve the needs of its diverse customers, e& has a lot more in store as it continues to roll out innovations and strengthen its position in emerging technologies such as AI, IoT, and cloud computing.
In addition to the accolades e& received, the Group's CEO, Hatem Dowidar, has also been recognised by Brand Finance as the number one ranked telecom leader globally on the Brand Guardianship Index 2024.
etisalat by e& - No. 1 and Strongest Telecom Brand in the World 2024
In addition, Brand Finance named etisalat by e&, the Group's telecom pillar, the Strongest Telecom Brand in the World 2024, with a BSI score of 89.4 out of 100, resulting in AAA rating. etisalat by e& also preserved its leading position as the Strongest Brand in MEA for the fourth year across all categories. etisalat by e& is today among the top 20 strongest brands globally.
David Haigh, CEO, Brand Finance, said: "e& has been on a journey of reinvention, guided by Mr. Dowidar's expertise and experience. Transforming an organisation with almost 50 years of heritage is no easy task, but he has shown not only a keen understanding of the business itself, but also how important a brand can be in facilitating a change. By evolving the historic etisalat brand into a tech organisation with global aspirations, Mr Dowidar is setting the group up for another 50 years of success."
Brand Finance is the world's leading brand valuation consultancy. Bridging the gap between marketing and finance for more than 25 years, it evaluates the strength of brands and quantifies their financial value to help organisations of all kinds make strategic decisions. Every year, Brand Finance conducts more than 5,000 brand valuations, supported by original market research, and publishes over 100 reports that rank brands across all sectors and countries.
About e&
e& is one of the leading technology groups in the world. Boasting impressive financial figures for 2022, with consolidated net revenue reaching a staggering AED 52.4 billion and consolidated net profit surging to AED 10 billion, the Group's impeccable credit ratings reflect its strong balance sheet and track record of sustained success.
Founded in Abu Dhabi over 48 years ago, the Group has a rich legacy as the pioneer in telecommunications in the UAE. Today, its footprint spans 20 countries across the Middle East, Asia, and Africa, making it a leading player in the industry.
Innovation is ingrained in e&'s DNA to create an unbreakable bond between communities using cutting-edge digital solutions, smart connectivity, and advanced technologies.
The Group has designed five strong business pillars that address various customer segments: etisalat by e&, e& international, e& life, e& enterprise, and e& capital. Through these pillars, we strive to revolutionise the way people communicate, work, and live by providing unparalleled services and exceptional experiences.
At e&, we are committed to pushing the boundaries of what is possible and delivering measurable results that make a difference in people's lives.
To learn more about e&, please visit: https://eand.com/
CONTACT: Nancy Sudheer, Email: nsudheer@eand.com, Mobile: 00971505660616
