Reportedly, Etisalat, the UAE telecom giant, has launched the next stage of its evolution – and the first step in that is being branded as ‘e&’. It will mark the Group’s transformation into a full-scale “global technology and investment conglomerate”.
This was confirmed by Sheikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister of the UAE and Minister of Presidential Affairs.
“The transformation of e& from a telecom company founded more than four decades ago in the UAE into a global influence in digitalisation highlights its role in upholding the UAE’s sustainable economic development and diversification plans,” Sheikh Mansour said in a statement. “We commend e& for being the national champion that steers its global digitalisation leadership through pioneering advanced technologies, advancing ICT infrastructures, and fuelling geographic expansions while unlocking value.”
Capitalise’ on new opportunities
The intent is to be fit and ready to take on new prospects in a “fast-evolving business landscape”. Some of that is already being seen, with Etisalat – or e& – joining in the launch of a Dh2.3 billion digital bank – Wio – along with FAB, ADQ and Alpha Dhabi.
In the new avatar, The Group’s telecom operations will retain the previous branding identity. Simultaneously, it will be “upholding the Group’s rich telecoms heritage, bolstering the Group’s strong telecoms infrastructure and maximising value for its customer segments…”.
Other ‘pillars’
Apart from its core telecom services, the other key operational lines will be:
e& life, which is focused on “enhancing customer delight by becoming an integral part of the lives of its customers”. The division has already designed plans to deliver next-generation technologies and digital experiences that will “bring the world to the customers’ fingertips through smart connectivity platforms in entertainment, retail and financial services”.
e& enterprise will be the unit taking on the digital transformation of governments, corporates and enterprises. Through its solutions in cybersecurity, cloud, Internet of Things (IoT) and Artificial Intelligence (AI) e& enterprise will “create real business value as it continues to leverage on its expertise as a digital managed company having the strength and reach of a globally trusted partner”.
Then there is the e& capital, which will take the lead in driving new growth prospects for the Group, most likely through mergers and acquisitions. The grand plan is to invest in “ideas that make the future”.
Already, some of the reshaping at the telecom company was apparent. The Group started selling insurance products as part of a calculated move to expand into financial services solutions. The launch of a digital bank is also part of that grand strategy.
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