Bahrain’s GFH launches Britus Education platform

Hisham Alrayes, CEO of GFH Financial Group.
Updated 01 December 2019

Bahrain’s GFH launches Britus Education platform

GFH Financial Group B.S.C. has announced the launch of Britus Education, a K-12 education platform designed to take advantage of value opportunities in the fragmented trillion dollar global private education industry. To mark the launch, GFH and Britus Education are gearing up to host an education roundtable forum to be attended by regional and global industry experts and investors on Dec. 2 on the sidelines of the 26th Annual World Islamic Banking Conference in Bahrain.

In launching Britus Education, GFH has already secured seed K-12 schools in the Middle East for the platform, developed a robust deal pipeline and plans to conclude various acquisitions in the coming months with initial target assets of $200 million.

Taking part on the panels will be senior representatives from the Bahrain Economic Development Board, UNDP, Ministry of Education of Bahrain, Ministry of Education of Oman, and Education Quality Authority of Bahrain, among others. 

Hisham Alrayes, CEO of GFH Financial Group, said: “I am pleased to unveil our Britus Education platform in line with GFH’s strategy to deliver further value for our investors and shareholders and create a positive impact on the quality of education in the Middle East and globally.”

He added: “The strength and significance of the experts and partners that will join us for our forum underscore the importance of investment in the education space and GFH’s position as one of the most active private equity players in the regional education sector with a track-record of consolidating valuable partnerships and creating value for schools and investors alike.”

Zain KSA celebrates key 5G milestone

Updated 14 December 2019

Zain KSA celebrates key 5G milestone

Zain KSA celebrated the finalization of the first phase of the Middle East’s largest 5G network in a special event on Dec. 8 at the Hilton Riyadh. The ceremony, held under the patronage of Minister of Communications and Information Technology Abdullah bin Amer Al-Sawaha, was attended by Zain KSA Chairman Prince Nayef bin Sultan bin Muhammed bin Saud Al-Kabeer, Governor of Communications and Information Technology Commission Dr. Muhammed bin Saud Al-Tamimi, Deputy Minister of Communications and Information Technology Haitham bin Abdulrahman Al-Ohali, and Zain KSA CEO Sultan bin Abdul Aziz Al-Deghaither, along with other dignitaries in the ICT sector.

Prince Nayef said: “Zain KSA’s achievement accompanies the speedy development and innovative services of the digital revolution that the world around us is witnessing. This achievement is significant in its timing, as it coincides with the rapid rise of the Kingdom’s ranking in several prestigious international reports, specifically in the ICT sector. Another aspect that makes this achievement noteworthy is its size, as it offers the broadest coverage of the 5G network, which has positioned the Kingdom as the first in the Middle East, Europe and Africa.”

Prince Nayef pointed out the concurrence of Zain KSA’s accomplishment with the Kingdom’s growing pivotal role at the global economic level, and in becoming the first Arab country to preside over the G20 summit. He affirmed Zain’s commitment to keeping pace with the Kingdom’s economic ambitions in line with its position in employing young national talent. He said the Saudization rate in the company has reached 86 percent, with young Saudis assuming 92 percent of leadership positions.

CEO Al-Deghaither said through its completion of the first phase of the 5G network, Zain KSA confirms its commitment to becoming a key player in the ICT sector. “Zain KSA has made several significant achievements since its inception. Today, we proudly announce that the company has the widest 5G network coverage in the Kingdom and the region.” 

He added that the 5G technology will lead the Kingdom toward a new world with its substantial technologies and capabilities, which will be evident in various sectors through the Internet of Things and the business sector, in addition to other daily functions that will make customer experience easier and more effective.”

Al-Deghaither said that this step comes at a time when Zain KSA is witnessing its best operational performance by reaching the highest profit over the past two years, with SR380 million ($101.3 million) during the first nine months of 2019, and a total of SR332 million for 2018.

With the completion of the first phase of the 5G network, Zain KSA is now offering a range of packages of 5G services for individuals and businesses through a network of 2,600 towers distributed across 27 cities.