SABB supports startups with forum sponsorship

The Saudi British Bank (SABB) has contributed to supporting the activities and events of the Saudi Startup Forum, recently organized by Monsha’at in Dhahran.
Updated 02 December 2019

SABB supports startups with forum sponsorship

The Saudi British Bank (SABB) has contributed to supporting the activities and events of the Saudi Startup Forum, recently organized by Monsha’at in Dhahran.

During the opening ceremony, Deputy Governor of the Eastern Province Dr. Khalid Al-Battal honored SABB as a “supporting sponsor,” in the presence of Deputy Minister of Trade and Investment Majed Al-Bawardi and Governor of the General Authority for SMEs Saleh Al-Rasheed. The award recognizes the bank’s role in developing the national economy by encouraging startups and entrepreneurs.

“Startups are an important part of the national economy, and therefore, the success and growth of these companies is a key factor for the growth and development of the Kingdom’s economy in general, and provide more job opportunities for citizens. Hence, the national Vision 2030 focuses on supporting the startup sector and entrepreneurs,” said Dr. Al-Battal.

He also praised SABB’s role in the success of the forum, which is an important platform for the launch of many startups and entrepreneurs.

In addition to its corporate banking and trade facilities, SABB is committed to supporting startups through its community-based initiatives, and continues to provide support through the TAQADAM startup accelerator program, which aims to help young entrepreneurs take their first steps in business.


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.