to enrich more lives

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Company Profile

Who we are

Kuwait Telecommunications Company (stc) is a Kuwaiti shareholding company incorporated pursuant to the Amiri Decree No. 187 on 22 July, 2008, with a share capital of KD 50 million, to operate and manage the third GSM versatile system in Kuwait according to Law No. 2 of 2007. stc, the leading brand in the telecommunications industry and a subsidiary of stc Group, the world-class digital leader, providing innovative services and platforms, and enabling the digital transformation of the region, was listed on Boursa Kuwait in December 2014.

In 2019, stc fully acquired Qualitynet General Trading and Contracting Company - the leading Internet Service Provider in Kuwait - with the aim to capitalize on the new opportunities in the Kuwaiti Telecom Market. In 2022, stc has successfully increased its share capital to reach KD 99.9 million through the distribution of 100% bonus shares to its shareholders. To further enhance its digital capabilities, stc completed the acquisition of the entire share capital of E-portal Holding Company and its subsidiaries in 2022, one of the most prominent ICT providers in Kuwait.

What we do

stc always strives to support the vision of Kuwait 2035, in positioning Kuwait as a major financial and commercial hub in the region. Hence, stc is keen on providing its customers, both individuals and enterprises, with a unique portfolio of products and services that satisfy their aspirations and cater to their needs.

stc offers numerous opportunities in the fields of telecommunications, entertainment, information, digital and data transfer services, besides delivering the best customer experience around the clock.

Throughout a decade of excellence in service, transparency and proactivity, in addition to being the fastest-growing and most advanced telecom operator with the largest 5G network in Kuwait and the first in the region to launch 5G Stand Alone Technology (FULL 5G), stc’s customer base has proudly reached 2.3 million.

Our Brand

Kuwait Telecommunications Company (stc) has a brand name which considered the most expensive and valuable brands in the Middle East in the telecom sector, which is a unified trading brand of the group’s companies in KSA, Kuwait, and Bahrain. The Group’s brand name was ranked 11th among the world’s highest value trademarks in the telecom sector by Brand Finance. stc’s strong brand name is one of the key factors that enhanced the company’s position in telecom market in the region and the gateway through which Kuwait Telecommunications Company (stc) seeks to keep abreast of the latest technical and digital developments in the ICT sector.

going forward
Our Subsidiaries
solutions by stc

stc completed the acquisition on May 06, 2019 of the entire capital of Qualitynet (solutions by stc), the company’s arm specializing in providing integrated business solutions, Internet services and fixed broadband services, this process was one of the crucial steps in our journey to improving the business solutions that stc offers to its customers by combining the strengths of two companies with prestigious and strong position in the telecom and ICT sector, as well as paving the way for both individual and enterprise customers to achieve their desired goals.

E-Portal Holding Company and its subsidiaries

On 06 April 2022, stc has completed the acquisition of the entire share capital of E-Portal Holding Company and its subsidiaries, specializing in communications and ICT in Kuwait, one of the most prominent companies in this field. The acquisition of E-Portal is a key step to enhance stc’s digital capabilities further through owning a specialized arm in the ICT, IOT and Cloud Services aimed at offering business solutions to the institutional sector in Kuwait.


Our Accomplishments

stc has succeeded in attracting the private sector investments, driving the economy and repositioning the telecom market as one of the most vital and active sectors in the evolution of global technology. stc has also extended its services to provide the best wireless coverage in Kuwait, and thus, played a key role in improving the nation’s urban infrastructure.

Since 2008, stc’s accomplishments have transformed the Kuwaiti telecom market, including changing wireless pricing models and fees, in addition to its membership in the International Telecommunication Union (ITU). In 2019, stc became the first network, in the MENA region, to offer its customers the 5G service and to enable enterprises in mobility. stc has invested in building the most advanced network, and proudly owns the largest number of sites covered by the 5G service in Kuwait. In 2021, stc was the first operator in Kuwait to launch the latest 5G Standalone technology dubbed ‘FULL 5G’ that brings the 5G experience to a new level with better speeds, lower latency, and improved coverage.

Additionally, stc is continuously working on enriching its diverse digital portfolio of services, products and solutions offered to its customers, individuals and enterprises, through its collaboration & partnerships with local, regional and international key players in the telecommunication market.

Last but not least, stc succeeded in creating job opportunities and focusing on the Kuwaitization plan, reaching 65% of the company’s workforce, by attracting the top talents through partnerships and collaborations in the Kuwaiti market as well as participation in many career fairs at different local universities and conducting internship programs. stc has always been committed to empower the younger generation, while attracting aspiring candidates that fit into stc’s dynamic culture to become one of the employers of choice within the community.

stc is committed to strengthen its extensive Corporate Social Responsibility (CSR) program in line with its corporate values by launching a series of initiatives that primarily focus on tackling key issues within the areas of health, entrepreneurship, the environment, youth empowerment, as well as sports and education.

Vision & Mission

Our Vision

Our vision is to be a world-class digital leader, providing innovative services and platforms to our customers and enable the digital transformation in Kuwait.

Our Mission

Our strategy outlines the key pillars to expand stc’s top line, create value with greater efficiencies, while preparing the company for the future:

  • End-to-end digital experience
  • Enhance core performance
  • Reinvent customer experience at world-class standards
  • Leveraging on group synergies

Our Values



Outstanding energy to enhance and enrich our performance. We are agile, collaborative and fresh.



Determined to be a customer-centric company for our clients and an inspirational workplace for our employees. We are caring, committed and trustworthy.



Moving forward and enabling best possible solutions for our clients and employees. We are proactive, inventive and inquisitive.

Our Purpose

stc aspires to a new digital age transforming our nations and economies.

stc creates products and services beyond the traditional telecommunications services to enable the digital pillars of the new digital economy. At stc, we combine smart technologies with the most advanced systems to harness the digital capabilities and the full power of technologies to better serve our customers, stakeholders, government entities and the local community as a whole.

We develop digital platforms, solutions and services based on the data science, cloud computing, artificial intelligence and advanced digital analytics driven by the 5G services. By empowering the leading industries, businesses and governmental entities to thrive through providing the most innovative digital services, stc focuses on shaping a sustainable future to the local community with a deeper insight and accelerated growth.

Company’s Key Activities in 2022

2022 was an exceptional year for Kuwait Telecommunications Company (stc), whereby, it has expanded its operating model and customer base to serve its customers on both the individual and enterprise levels. Accordingly, stc has been keen to strengthen its position as a leader in providing communication services and advanced digital solutions, which reflects the successful implementation of its corporate strategy including all the operational and financial KPIs. This has helped stc to reach the outstanding results to exceed customers’ expectations and contribute in placing stc amongst the region’s leading companies for digital transformation as well as providing integrated technical solution

Throughout the year, stc focused on managing the increased demand on certain technologies on the individual and enterprise level by expanding its scope of offerings and solutions under its ICT business. Whereby, the Company completed its acquisition of E-Portal Holding Company and its subsidiaries in April 2022, a leading ICT provider in Kuwait, with an aim to leverage its added resources in order to support its strong B2B customer base owned by solutions by stc through offering cuttingedge and innovative end-to-end solutions. On the individual front, stc continued to strengthen the telecom and digital solutions offered to customers with a strong emphasis on leveraging the strength of its solid 5G infrastructure.

stc’s anticipation of the growing demand within the ICT sector was short lived as the Company quickly began to realize the added benefits of its subsidiaries in delivering key technologies, especially to the enterprise customers. With its role cemented as one of the leading pioneers within Kuwait’s technology and digital solutions industry, stc managed to increase its revenues to new heights since its inception. stc’s resilience propelled its position in the market, positioning it as the leading telecom provider in Kuwait in terms of revenue market share. In line with its corporate strategy, and internal application of digital transformation, stc has been laying down the foundation to support innovation, and ultimately the industry’s next growth wave.


stc signed strategic financing facility with NBK worth KD50 million, to accommodate the Company’s acquisition and expansion plans and covering capital expenditures.
solutions by stc, stc’s technical arm for providing the latest digital and ICT solutions and services, won the KD 16.3mn contract to build the network infrastructure at Kuwait International Airport - Terminal 2. The contract is to provide a range of innovative and modern solutions to build the integrated network infrastructure that will support the connectivity requirements for the new terminal.


solutions by stc Awarded the contract to provide Schlumberger with their complete network, switches and CCTV for all their sites.
solutions by stc awarded the contract to provide Chevron with Business Communications solutions (Push-to-Talk over LTE).


stc partnered with Weyay Bank, Kuwait’s first digital bank that was launched by the National Bank of Kuwait “NBK”. stc became the telecom partner of Weyay Bank, further expanding the Company’s digital value proposition by offering exclusive promotions and offers to customers, especially the youth.
solutions by stc launched Quick-pay, a seamless payment channel for the first time for both mobility and fixed customers, leading to better and faster processing for billing and collection.
solutions by stc Introduced Business Communications (Pushto- Talk over LTE) solutions, taking internal communications to the next level, with a range of rugged PTT devices controlled by a dispatcher using specialized software.


stc has enabled next generation of encryption of user identity SIM cards on its network using Subscription Concealed Identifier (SUCI) on 5G SA.


stc and Warba Bank signed partnership agreement to launch SiDi application. It is considered the first integrated digital wallet to provide banking services licensed by the Central Bank of Kuwait.
solutions by stc announced a strategic partnership with a cloud solutions company to provide local cloud infrastructure and the option to localize data, in addition to in-depth technical knowledge and customer support services.
solutions by stc signed with Kuwait Oil Company (KOC) to provide Surveillance over LTE & Solar Power solutions, using 5G/4G as the primary wireless medium for their CCTV video surveillance, marking landmark technology solutions in the O&G sector.


stc launched stc roaming services distinctively and totally revamped to include exclusive premium plans with an autorenewal feature, aimed at providing customers a seamless experience to enrich their roaming journey.
stc commercially launched the VoNR “Vo5G” technology platforms, which is an advanced technology for calls over 5G SA networks. VoNR is anticipated to drive innovation in conferencing, mobile collaboration, augmented and virtual reality applications over 5G SA networks.
solutions by stc won the Ministry of Health (MOH) contract to provide turn-key solutions and implementation for their Datacenter and IT operations infrastructure, in addition to network infrastructure and PBX projects.


stc commercially launched the fully converged core “5GC” network in the region, enabling stc to provide the consumers and companies with ultra-reliable connectivity over 5G network to provide advanced private networks, which can provide priority differentiation based on customers’ requirements.
solutions by stc won the Ministry of Interior (MOI) tender for network infrastructure between KSA & Kuwait borders, to various locations in the border regions.
solutions by stc announced the latest Cloud Managed Network solution to provide fully managed networks including Wi-Fi, LAN and WAN network solutions, providing scalability and flexibility on demand for the growing Enterprise customer needs.


stc has successfully rebranded the prepaid segment to ‘go’, announcing “your prepaid, your way” and positioning the prepaid brand as cool, smart and flexible with interesting new personalized features.
solutions by stc launched My Business (enhanced Self care) for mobility & fixed, making easy-to-use account management available to all our customers.


stc opened new Tamayouz lounge for VIP customers to enhance the customer experience and improving the quality of service for the Tamayouz Customers. tamayouz is a premium program designed by stc exclusively for its VIP customers that offers customer-centric solutions, exceptional services, and exclusive benefits.
solutions by stc launched Smart Office solutions targeting the SME marketing, featuring ICT products such as IdeaHub smart screens, controllers and sensors. Now control and manage your office remotely, enabling better collaboration and teamwork in real-time.
solutions by stc successfully upgraded our Digital Business Support System (BSS), strengthening the quality of service and cutting-edge solutions delivered to our customers. The system empowers us with several key features in supporting the evolving digital transformation strategies of our customers, while empowering enterprises through efficient solutions.


stc completed successfully testing the first remote reality racing 5G SA experience using 5G SA. In order to promote 5G SA use cases commercially, it provides real racers from all over the world compete against each other with real cars on real tracks in real races.
stc is the 1st operator in the region to have full 5G network by deploying N1 (2100Mhz) NR coverage nationwide to improve user experience indoor/outdoor.
solutions by stc awarded the Ministry of Electricity & Water (MEW) contract for internet and data services.
solutions by stc won the Ministry of Public Works (MPW) contract for providing and maintaining access control (Finger Print) at their facilities.


stc launched stc baity, our new service catering to home internet users, aimed at providing homes with a stable, reliable and high-speed internet that covers all home needs through providing the fiber connectivity of baity fiber, or the state-ofthe- art 5G outdoor router with baity 5G.
stc collaborated with the international data roaming service provider BICS to provide the first intercontinental data roaming connection in the world, which was implemented between the two direct networks in Europe and the Middle East using the fifth generation independent technology “5G SA”.


stc partnered with “Loudplay” to provide our users with the latest in the cloud gaming technology which enables users to play high-end PC games on android smartphones, android tablets, & smart TVs. stc’s Launching of its beta in early - December 2022, aims to make high-quality PC games accessible without having to pay a premium, in addition to making them available on any android smart device anywhere, anytime.
solutions by stc announced range of Cyber Security solutions in partnership with a leading cybersecurity firm, further strengthening the high-end cyber security products and services we offer to our B2B customers.

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Our Business Model










Strategic Framework

Our Future Strategy “LEAD” 2023-2025

Kuwait Telecommunications Company (stc) ensured enhancing its position as a digital pioneer through the implementation of its “AHEAD” strategy and building on its current initiatives aimed at enabling the digital transformation in Kuwait. Whereby, the foundations of AHEAD are centered on customer centricity, technology leadership, capture growth opportunities and leverage on the stc group capabilities. In this regard, the acquisition of E-Portal in Q2-2022 has been a key milestone in achieving this leadership position, and is expected to support stc’s future business expansion strategy.

Over the past three years, stc was keen to drive the Company on its path to market leadership during the most difficult global conditions. stc has also successfully optimized its operations, invested in developing the largest 5G network in Kuwait and enhanced its digital channels to provide its customers with an unrivalled experience. stc has been the first operator in Kuwait to launch the full 5G (standalone 5G) providing better customer experience in terms of the download speed and latency, in addition to providing a broader range of use cases.

By completing a transformation journey that started in 2019 with the strategy AHEAD, stc has defined its future Corporate Strategy “LEAD” for the period 2023-2025, in order to enhance the company’s aspiration and goals to LEAD the Kuwait telco and ICT market by offering innovative services, growing priority segments, and deploying an efficient and digital operating model.


Lift The Core

By capturing growth opportunities across youth, high-value expatriate and SME segments. This strategy is based on an enhanced customer segmentation that allows stc to better serve its customer needs and identify the buckets of growth within the core business.

Expand ICT Business

Expand ICT business in scale and scope and position stc as a professional services provider by capturing the potentials of the Enterprise market across sectors by offering integrated communications and IT solutions through its subsidiaries. Whereby, the acquisition of E-Portal is a key milestone that propels stc capabilities to capture this growth opportunity.

Accelerate Innovation

Leveraging Group, non-telco partners and Kuwait startup ecosystem. Going beyond the core by relying on the Group new operating model, specialized subsidiaries and their capabilities, enlarging the partnership ecosystem and exploring nascent ideas will allow stc to enrich the product portfolio, the customer experience and differentiate itself from its competitors in the telecom market.

Deploy an Efficient and Digital Operating Model

that fits the growth. Moving forwards with a nimble and digital operating model with a relentless focus on profitability, developing stc employee’s potential, nurturing their skills for the future, and promoting corporate sustainability.

Key Financial Indicators

For the last 3 years (2020 - 2022)

Revenues (KD million)

  • 283.2
  • 296.3
  • 336.4

EBITDA (KD million)

  • 73.4
  • 79.6
  • 82.0

EBITDA Margin (%)

  • 26
  • 27
  • 24

Subscribers (million)

  • 1.9
  • 2.0
  • 2.3

Net Profit (KD million)

  • 32.1
  • 44.9
  • 33.2

Shareholder’s Equity (KD million)

  • 222.2
  • 237.2
  • 241.4

EPS (fils)*

  • 32
  • 45
  • 33

Cash Dividends (fils)**

  • 30
  • 30
  • 30

* The EPS and Cash Dividends for 2020 and 2021 have been restated based on the distribution of 100% bonus shares in 2022.

** On 08 February 2023, the Board of Directors has recommended distributing cash dividends of 30 fils per share representing 30% of the share’s nominal value for the year ended 2022. This recommendation is subject to the approval of the General Assembly of the company.

Awards of the year


Management’s review of stc in the Kuwaiti telecommunications market

Market Review

In our ever-evolving economies, stc strives to keep moving forward and advance in step with the cutting-edge technologies that are reshaping people’s lives, international communication, business operations, and corporate activities. Therefore, for stc to maintain its leadership position in the telecommunications, IT, and ICT industries, it became necessary as well as imperative to be adaptable and to take advantage of the most recent technological digital advancements that shall influence the areas in which our customers operate.

Since inception and following the global economic crisis, stc has consistently taken the initiative to identify the major trends affecting its business. Accordingly, this section of the annual report gives an insight into the latest market and technological developments that have thrived over the past few years and became globally inevitable.

Industry Trends

  • Dynamism
  • Devotion
  • Drive
  • Lead
  • Framework
  • Scope
  • Processes
  • Sustainability
  • ESG
  • 5G
  • IOT
  • Consumer
  • Digital
  • Market
  • Forward
  • Strategy
  • Community
  • Social
Competitive Market Competitive Market

As part of the MENA region’s fastest-growing economy, Kuwait has been at the heart of the technological developments and digitization. Whereby, like many countries, it has seen its telecommunications industry grow and evolve to a stunning extent more than anyone would have ever dreamed of.

The telecom industry in Kuwait has expanded to a high level, with a particular emphasis on mobile infrastructure and services, and is expected to grow in the upcoming years as the economy deliberately transitioned away from its reliance on oil and natural gas towards one that is more knowledge-based and centered on ICT and related services.

Partnership Partnerships and ICT Acquisitions

The telecom and software development companies have been successful in promoting their services in the region through partnerships and collaborations with both public and private businesses, which has made a significant contribution to the telecom industry as a whole. On the other hand, and as a result of the governments’ interventions, bigger spending, and increased foreign investments, there has been a huge demand on adopting a new technology at such a rapid rate, which assisted the MENA region to earn the title of a relatively mature market. As a result, telecom operators shifted towards a new strategy to boost their revenues by acquiring ICT providers. This will, in turn, play as a great factor to progress in several areas, including, but not limed to:

  • Improve decision making
  • Enhance manufacturing productivity
  • Improve customer services
  • Better communications and virtual collaboration
  • Improve financial performance and profitability
Remote Working Remote Working

There has been a global shift towards remote working in the corporate, business, educational, and industrial developments over the past few years. Accordingly, an increasing demand on the digital and online platforms was created and has opened the door for telecom and ICT operators to realize new streams of revenue while capitalizing on the fixed high-speed broadband and mobile networks.

With the use of efficient technologies, online cloud computing, digital security and digital solutions became an integral part of not only the individuals’ and corporates’ daily operations but also the business continuity planning. This has made it possible for numerous industries to obtain the benefits of cost optimization programs, such as rent, utilities, building maintenance, cleaning, and equipment.

Digital Ecosystem Digital and Green Transformation “Digital ecosystem”

A new era of transformation has begun where corporates and governments are more focused than ever before on adopting sophisticated technologies and new business strategies with the aim of maintaining their competitive position in a world that is always evolving rapidly. Driven by the significant and unanticipated problems brought on by climate change that the world has to deal with, resilient thinking became essential to lessen the risk associated with inadequate Environmental, Social, and Governance management, such as repeated harm and social stigma, which can result in a drop in market value.

The sudden rise in energy costs has accelerated the increased demand for ICT services providers and telecom operators to integrate the ESG and climate factors into their corporate strategy and develop better energy-saving methods while pursuing Net-Zero Emission goals. This explains why the three major aspects, environmental, social, and governance (ESG) issues are currently garnering more attention, especially from the investment community.

Sustainability Sustainability Reporting

The adoption of sustainability principles in all the corporate activities became the heartbeat of the telecom industry; whereby, creating a quality, resilient and sustainable ecosystem is crucial to help companies in creating positive social and business impacts. There has been a magnifying trend towards sustainability, where consumers as well as investors became more likely to support sustainable businesses.

VR Virtual Reality (VR)

Virtual reality has gone above and beyond entertainment to the extent of being included in the healthcare, tourism, education, institutions industries. In this regard, employees can use virtual reality when executing their tasks to experience life-like circumstances that improves business operations. On the contrary, the technology is still in its early stages of development as many organizations around the globe are hesitant to completely commit to the virtual reality technology due to various concerns related to costs, accessibility, and safety.

Economic Uncertainty Economic Uncertainty

Economic instability is still a major concern for strategic planners due to the pressure faced in the budgeting planning process, especially, with the increased inflation in personal costs, energy costs as well as external spending on services, leases, and capital expenditures. This has created a global need for most sectors to improve their operating margins, enhance their infrastructure and build solid business continuity plans to survive during any unprecedented economic event that may arise and avoid the negative repercussions. Companies should, therefor, concentrate on their profitability and develop a sustainable revenue growth plan in order to escape the upcoming margin squeeze. From which, companies would also find a window of opportunity to reset the cost base, accelerate strategic initiatives, and exit this inflationary phase to shape a better economy. For that reason, the readiness around having proper business models, governance, business systems and processes, in addition to the accurate financial reporting processes are the key for more diligence by investors and more regulatory tightening around listed companies.

ICT integration ICT Integration

Mobile operators have recently shifted from providing solely traditional telecom products and services to start offering a wide range of end-to-end hardware and software integrated solutions to the B2B and B2C sectors. Where the demand for Data, Cloud, IoT and Cyber Security services is steadily growing, Telecom operators found new opportunities arising from extending their services to include ICT solutions in addition to enhancing their ICT infrastructure to obtain an easier access to data and enrich customer experience. This is more likely to create opportunities for telecom operators to expand their presence in the market, target new segments and enhance their market share in competitive markets.

Technology trends

stc maintains a strong, transparent and healthy relationship with its stakeholders, that is built on trust and mutual interests.


Internet of Things (IoT)

The individual and enterprise sectors are nowadays relying heavily on the use of internet of things market (IoT) more than ever before. The benefits of the artificial intelligence (AI) employed in the IoT surpass that of data share and collection to affect the bottom line of telecom operators through increasing corporate efficiency, raising the level of automation and helping those companies to deliver better customer service. The potential for IoT technology and AI-based solutions to be used in nearly all daily operations and decrease companies’ operational costs, has contributed to the global trend towards utilizing these services.

The following are examples of the innovative IoT applications in various domains:


  • IoT and connected devices are increasingly finding their way into consumer applications such as smart watches, home automation, connected health, connected transportations and other wearable devices.


  • IoT opens up a completely new world of possibilities for the manufacturing industry with the ability to integrate seamlessly with various devices and processes in the industry domain.

Transport and Logistics

  • IoT applications touch a variety of aspects of this rapidly expanding business like vehicle tracking, driver information system, navigation, safety and roadside support,… etc.


  • IoT offers a wide range of medical and healthcare applications as it enables hospitals and medical institutions to run more efficiently. It also simplifies the way in which patients can receive better treatment. Hence, the IoT has been recently integrated with a variety of medical devices, resulting in a higher quality and more effective medical services.

Cloud Technology

There is an increased demand for the use of cloud technology and data storage due to the fundamental role it has in accessing data and connecting to enterprises from anywhere at any time, in addition to the vital role it plays in facilitating the below areas which contribute to the success of major telecom and ICT solutions providers:

Diminished IT costs

  • Cost of managing and maintaining IT systems
  • Reduce the need of purchasing expensive systems and equipment.
  • Reduce operating costs (cost of system upgrades, eliminate wages for additional staff and reduce energy consumption costs).

Business Continuity & Disaster Recovery

  • Having the data stored in a secure and safe location helps organizations to manage businesses more effectively in case of power failure, natural disaster, security issues or other crises. Cloud technology also enables consumers and enterprises to leverage on the shared hardware through the use of fast as well as secure connectivity with lower latency.

Participation Efficiency & Increase Collaboration

  • Communication and shared services is executed with the use of modern and faster methods instead of the old and traditional methods.

Additional benefits including, but not limited to, automatically access updates, scalability and loss prevention.


Connectivity and Digitalization

The telecom sector is witnessing drastic changes in terms of enhancing the digital services and business solutions for the consumer and enterprise sectors; embodied with creating partnerships with mobile virtual network operators (MVNO)’s. Digitization has become an essential part of our daily activities and business operations where it has been taking into many shapes to reach digital payments throughout the use of IoT, Cloud solutions and connected devices. On the other hand, MVNO’s are designed to cater customers’ needs via customized plans designed for the consumer and enterprise sectors with lower than usual prices.

Full 5G

5G Network

Telecom operators are heavily relying on 5G networks to build their infrastructure with the purpose of supporting their services to handle the accelerating demand on more connected devices, higher speed and data usage, Cloud solutions as well as ICT and IoT services. This would also enable telecom operators to better execute their business continuity plans to survive and reach effectiveness and efficiency in terms of operations, resiliency, agility as well as performance throughout the most critical economic and operational conditions.

Cyber Security

Cyber Security

With the increased reliance on connectivity and the new technologies here comes a need for stronger and more dependable Cyber Security that allows high-tech operators to open up for new growth opportunities. Thereafter, the growing demand on digitization, Cloud services and IoT creates a vital need for Cyber Security to provide consumers with solutions in Cyber Security and protection “Shield” services.

Operational Highlights

stc’s commitment towards enhancing customer experience and delivering results to its shareholders

Market Share

Market Share


Million Subscribers


5G Coverage of Residential
and Populated Areas


Kuwaiti Employees




Years in Operation



Key Milestones

stc’s journey of growth

  • Launches commercially
  • stc abolishes incoming calls fees and other operators follow
  • First Operator in the world to have all IP network
  • stc introduces high speed Mobile Broadband in Kuwait
  • stc launches innovative prepaid offerings and acquires 500K customers in one year
  • Expands retail network and launches joint promotions with retailers
  • stc wins Comms MEA Best Telecom Finance Deal
  • First to introduce Apple iPhone
  • Strategic partnership with Manchester United
  • First to introduce newest HSPA+ (42.2 Mbps) Broadband network
  • stc launches Elite Program for loyal, VIP and high value customers
  • stc turns into profitability during the fourth year of operation
  • stc starts deployment of 4G LTE network
  • Completes nationwide 4G LTE Coverage and awarded Best LTE deployment in the Middle East
  • Number portability and stc acquires majority of ported numbers between operators
  • Partnership with Real Madrid
  • Listing on KSE
  • Retained earnings turned to be positive
  • Ranked 2nd in terms of revenue and subscriber market share
  • The first in Kuwait to introduce the all-new (VoLTE) technology
  • stc branches network reached a total of 70 across Kuwait
  • First to introduce the LTE Advanced
  • Best Telecom Co. by Arabian Business
  • Member of (ITU)
  • Leading Corporate for IR
  • Business Innovation in Risk Management
  • VIP Customer Service Award
  • Won the “2017 Speedtest Award“ by Ookla company
  • Excellence in Governance Award
  • Won the “Best Operator Network” from telecom world Middle East
  • 5G Innovator of the Year Awards
  • Best Network Development Award at 5G MENA
  • stc reaps three accolades at ME Call Centre Awards
  • Wins “Advertising Creativity Award” at Arab Media Forum
  • stc wins Sharjah Gulf Top 10 Business Award 2018
  • Acquisition of Qualitynet - the leading ISP provider in Kuwait
  • Launched 5G services in June
  • stc and Huawei sign MOU to develop 5G services
  • Launches the new brand stc
  • stc Group was ranked the 1st in the MENA region, by Forbe’s “Global 2000” list
  • stc rebrands “Qualitynet” to solutions by stc
  • stc signs an AoA for establishing Connect Arabia W.L.L with Mobility Telecom Kuwait Limited (BVI) which will be the main partner
  • stc and Virgin Mobile Middle East & Africa led consortium receive MVNO license from CITRA
  • stc signed a binding agreement to fully acquire E-Portal Holding Company and its subsidiaries, which specialize in the Information and Communications Technology sector in the State of Kuwait
  • stc acquires E-Portal Holding Company and its subsidiaries - the leading ICT services provider in Kuwait
  • stc increases its shared capital to reach KD 99.9 mn through the distribution of 100% bonus shares
  • stc’s total revenue has reached its highest level since inception

Shareholders Information

Number of Shares Outstanding


Million Shares
Saudi Telecommunications Company (stc)
Public Institute
for Social Security
Kuwait Investment

Corporate KPIs

Preparing and Monitoring the Key Performance Indicators (KPIs) at stc

In line with the international best practices and being an integral part of the Company’s strategy execution process, stc ensures developing a proper and clear performance management process to evaluate its business and organizational operations based on a set of predefined Performance Indicators (KPIs). In this regard, and with the aim to ensure the effectiveness of executing the entire process, the KPIs are defined and tracked at regular time intervals at different levels of the organization. The KPI reporting aims at providing stc’s board of directors and executive management a quick and easy review of the overall Company performance against a set of specific predefined strategic goals and industrial benchmarks through facilitating suitable measures for evaluation.

The overall process takes a holistic approach where everyone at stc is involved in the preparation of the KPIs. First and foremost, stc’s strategic objectives and SMART goals are translated into corporate KPIs that are tracked periodically by the board of directors in adherence to the corporate governance best practices. In line with our corporate strategy, the corporate KPIs are determined on an annual basis which are linked to the appraisal of stc’s CEO, Executive Management, and all the Company employees. It is crucial to highlight the major components of our corporate KPIs, which include but not limited to, a mix of financial objectives, and other strategic objectives.

The corporate KPIs are then cascaded to the CxOs, whereby, each CxO has a set of unique common KPIs that are linked to their annual strategic objectives in order to help drive the collaboration among the different business and functional units. These objectives could be related to stc’s penetration or expansion in a certain segment of the market, the provision of new services, growing the size of a certain product line, or executing a specific project such as digital transformation. It could also be related to meeting other requirements of other sectors such as recruitment objectives and cost optimization, etc. Last but not least, as the CxO KPIs would be cascaded all the way down to the lowest level of the organization, respective employees would be assigned the required tasks to help executing stc’s corporate strategy and achieve the desired results with the highest level of efficiency.

As part of stc’s commitment to foster the digitization into its internal and daily operations, the above mentioned performance management process of preparing and monitoring the KPIs is fully automated. Whereby, an independent unit within stc is assigned to perform the process in collaboration with the business or functional unit heads. The KPIs are; therefore, defined on an annual basis by the dedicated unit, which would also develop the monitoring methodology for the implementation phases of the predefined objectives, and then measuring and analyzing the results on a quarterly basis. Finally, at the end of each year, the KPI scores are measured, with the result of each measured individual is feeded into the annual appraisal process for all the Company’s employees.

Risk Assessment


Effective and efficient Risk Management framework is an important enabler to the achievement of stc’s strategic objectives. The Risk Management System in stc follows a systematic and disciplined approach in order to provide clear responsibility and accountability structures for effective Risk Management and Business Continuity. The ‘Risk Category’ covers Eight (8) major areas: Customer Experience & Services Quality, Financial, Governance, Regulatory & Compliance, Health & Safety, Human Resources, Network Reliability, and Reputation & Community.

Business Continuity Management at stc provides a framework for building organizational resilience with the capability of an effective response that safeguards the interests of its key stakeholders, reputation, brand, and value-creating activities such as Business Impact Analysis (BIA), Locations Risk Assessment, Incident Reporting, Business Continuity Management Plan & Exercises, and Training & Awareness.

The Board Risk Management Committee (BRMC) oversees stc’s Risk Management Framework, reviews the key risks (existing and potential), and their respective mitigation strategies that ensures Risk Management’s effectiveness. In addition, the Risk Management reports ‘Key Risk Indicator’ (KRI), ‘Risk Appetite’, and ‘Business Continuity’ results. The BRMC holds quarterly meetings to review the risks identified, the effectiveness of mitigation controls, and actively identify the positive business opportunities in relation to these risks.


stc’s Risk Management Framework has been benchmarked with leading international standards and guidelines such as ISO 31000, ISO22301 and COSO. The diagram below shows the Risk Management Scope, its respective ‘Framework’ and supporting ‘Process’ which outlines how the risks are treated with-in the company:



  • All sections in stc Kuwait
  • Local and international environment
Risk Background


  • Policy
  • Plan
  • Appetite
  • KRI
  • Governance structure
  • Organizational chart
  • Resources
  • Template and guides
Risk Background


  • Identify
  • Analysis
  • Evaluate
  • Treat
  • Monitor and report

Sustainability Report

Sustainability is the integration of Environmental, Social and Governance performance in a way that capitalizes value for the business and society.

ESG is a term used to represent an organization’s corporate financial interests that focuses on ethical impacts and sustainable practices over time.


Includes corporate climate policies, energy use, waste, pollution, natural resource conservation, and treatment of animals.


The organization’s relationships with stakeholders such as supplier, investors, customers and society.


Ensure uses accurate and transparent accounting methods, pursues integrity and diversity in selecting its leadership, and is accountable to shareholders.

Sustainability Key Benefits

In recent years, sustainability has become a top priority for many sectors. There are several reasons why sustainable business practices are beneficial for companies, employees, investors, society, etc.

Adopting a sustainability framework and sustainable practices at the heart of our business which will result in significant corporate benefits including an increase of profit and cost efficiency, risk management, anticipate regulations and compliance, customers and investors satisfaction, enhance employee well-being and engagement, reduce waste and energy, drives innovation and investment attractiveness and enrich company brand awareness and recognition.

Sustainability Market Drivers

New Kuwait Vision 2035 aligns with global sustainability visions and goals.

The main aspirations of New Kuwait Vision related to sustainability are:


Providing new infrastructure, appropriate legislation and an enabling business environment conducive to development and providing controls and climate to ensure total and balanced human resource development. Aiming on consolidating the values of society, preserving its identity, as well as achieving justice, political participation and freedom.

Sustainability Wheel

Sustainability Framework and Vision

The strategic focus Framework is around seven areas to create shared value for stc.

stc is aiming to achieve its goals by supporting the group’s sustainability vision by practicing ESG initiatives and KPIs that are in line with the 2023 strategy, CMA law and Boursa ESG reporting guidelines.

As part of 2023’s strategy, stc has to accomplish the sustainability objectives and implement ESG themes (Environmental, Social and Governance) best practices. The sustainability and ESG strategies are aimed at increasing the Company’s resilience, improving its overall performance, as well as contributing to the Kuwaiti society and the overall economy.

Caring for the Environment

Caring for the Environment

Enriching Lives and Experiences

Enriching Lives and Experiences

Expanding Access

Expanding Access to Technology and Connectivity

Doing Business

Doing Business with Integrity

Enhancing Economic

Enhancing Economic Impacts

Advancing Innovative

Advancing Innovative Digital Opportunities

Empowering People

Empowering People

Kuwait ESG 2022 Initiatives

Our Environmental Initiatives

We are continuously developing initiatives that promote greater environmental responsibility and encourage friendly technologies such as:

  • DG-Battery Hybrid solutions on around 200 sites.
  • Adoption of New Inverter Type Air Conditioning.
  • New Lithium Ion Batteries.
  • Support Green Workplace Initiatives as digital signatures.
  • Future of new datacenter with friendly technologies.
  • Good work on the Infrastructure sustainability.
  • Replaced all lights with LED lighting, less energy consuming and generate less heat.
  • stc’s Furniture’s and carpets are recycled materials was implemented for green Environment work place.
  • stc uses recycled ink cartridges.
  • A direction to be paperless company.
Our Social Initiatives

In 2022, stc has shown a rapid social growth among communities. Through engagement approaches with several sectors:

  • Education such as We Are One Campaign (back to school focusing on anti-bulleying).
  • Sports such as Kuwait Football Association (8 years).
  • Health such as Annual Breast Cancer and Movember Campaign.
  • Charity cooperated with Tarahom Volunteer Group.
  • Youth such as participation in 21st Center Ceremony for disables children.
  • stc’s CSR campaigns are playing an important role in shaping ESG by creating a shared value for stc and the society.

Our Governance Initiatives

stc’s governance initiatives have been growing over the years, ensuring that it’s alignment with global governance values as part of the ESG framework, through integrity, diversity and inclusion. Some of these initiatives include:

  • Obtains ISO certifications such as QMS, ISMS, BCMS.
  • Empowers talents, invest in people for new generation of leaders such as Ibdaa Academy Leadership program.
  • Share Awareness, such as code of ethics, purple code, code of conduct.
  • Transparency & the power of feedback “histc”.

Corporate Social Responsibility

Bridging the gap for a better tomorrow

Taking steps to positively influence and sustainably support the community through a range of diverse CSR Initiatives

In 2022, stc effectively implemented its extensive corporate social responsibility (CSR) program, spreading awareness and positively contributing to a diverse range of causes within its key focus areas: health & sports, education, entrepreneurship, environment & youth empowerment. Under its numerous multidimensional campaigns and yearly community driven initiatives, stc collaborated with entities within the government and private sectors, especially local SMEs and entrepreneurs, to influence the Kuwaiti society in a way that can add value to their own lifestyles or that of others within the community. stc has managed to grow the activities under its CSR framework by building long-term partnerships with various entities and continuously exploring opportunities to support the core mission behind its sustainable CSR program that positively impact the community. As digital pioneers within our industry, and key players in the local market, we believe that we have a responsibility to support the community in various sustainable ways. As part of our corporate values and individual duty towards the nation and people of Kuwait, stc will continue to explore innovative ways to contribute effectively to the society and the economy.

Annual Report 2022

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