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.
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.
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.
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.
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 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 strategy outlines the key pillars to expand stc’s top line, create value with greater efficiencies, while preparing the company for the future:
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.
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.
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
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
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
agreement to launch
SiDi application. It is considered the first integrated digital
wallet to provide banking services licensed by the Central Bank
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
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
announcing “your prepaid, your way” and positioning the
prepaid brand as cool, smart and flexible with interesting new
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
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
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
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
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
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.
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.
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 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.
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.
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.
* 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.
Engineer Maziad Alharbi, stc CEO, was selected as the TOP CEO in Kuwait within the Telecom & Tech Sector during the “Top CEO Awards and conference for the year 2022” and honored among the Top CEOs in the GCC in recognition of the various accomplishments achieved.
stc won the ‘Best Middle Eastern 5G Infrastructure Deployment’ at the Telecom Review Excellence Awards ceremony, in recognition of the Company’s deployment of the advanced 5G infrastructure solutions in the region as well as its innovations in digitization and its crucial role as an enabler of the digital transformation.
stc awarded by the World Economic Magazine as “Best Telecommunications Service Provider” and “Most Innovative Digital Transformation Telecom Company” in recognition of its advances in the digital transformation, innovation, and telecom services in Kuwait.
In recognition of its corporate governance framework and efforts to enable digital transformation in Kuwait, stc won “Best M2M Technology Solutions Provider - Kuwait 2021” and “Best Corporate Governance Telecom Company - Kuwait 2021” at the International Finance awards.
stc won several awards for its effective and resilient business continuity plan in 2022. The first award was received from Continuity, Insurance and Risk (CIR) Magazine during its 24th Annual Business Continuity Awards Ceremony for the category “Global Award 2022” and the second from Business Continuity Institute for the category “Most Effective Recovery 2022” at the BCI Middle East Awards.
stc was awarded the “Telecommunications Deal of the Year - 2022” for its acquisition of E-Portal Holding Company in 2022, during the ”21st Annual M&A Advisor Awards Gala” - the world’s largest M&A event held during the ”2022 Future of Dealmaking Summit” in New York and brought together more than 500 international Companies from various industries.
stc won most of the awards during the 10th edition of the Kuwait Creativity Award 2022 forum. The awards were presented by the Arab Media Forum in appreciation of stc’s unique TVC productions, creative advertising concepts, as well as other initiatives introduced while implementing its effective CSR agenda and digital transformation strategy.
stc is ranked 1st corporate for Investor Relations” in Kuwait and the “Best Investor Relations Professional for the year 2022”, in addition to its position amongst the top five listed companies in the Middle East in all sectors.
stc is ranked 1st as the best Digital Annual Report amongst mid cap companies in the MENA.
stc Kuwait was selected as the highly recommended for the Treasury Management Award in 2022, during the largest treasury event in the region ACT Middle East Treasury Summit.
In recognition of its progressive and sustainable CSR program and efforts to offer a diverse range of innovative advanced integrated communications and technology solutions, stc won “Best ICT Enterprise Digitalization Company - Kuwait 2022” and “Best Community Development CSR Company - Kuwait 2022” at the International Finance awards.
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.
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.
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:
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.
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.
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.
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 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.
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.
stc maintains a strong, transparent and healthy relationship with its stakeholders, that is built on trust and mutual interests.
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:
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:
Additional benefits including, but not limited to, automatically access updates, scalability and loss prevention.
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.
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.
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.
5G Coverage of Residential
and Populated Areas
Years in Operation
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:
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.
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.
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.
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.
We are continuously developing initiatives that promote greater environmental responsibility and encourage friendly technologies such as:
In 2022, stc has shown a rapid social growth among communities. Through engagement approaches with several sectors:
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:
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.
stc celebrated Eid Al-Adha by distributing gifts as surprises to the children undergoing inpatient medical treatments at Al-Amiri Hospital. This initiative aimed to draw a smile on the children’s face and celebrate with them the joyful occasions.
stc participated in the American University of the Middle East’s (AUM) annual career fair. stc’s participation falls in line with the various initiatives the Company has organized and pursued to empower the younger generation, while attracting aspiring candidates that fit into stc’s dynamic culture
stc launched its breast cancer awareness campaign titled ‘Awareness is Power’, in line with the international awareness month. This year stc collaborated with the International Hospital doctors to provide stc employees with early detection methods, additional information regarding the disease, as well as consultation advice. stc has also hosted the writer and economist, Nadia Al-Sharrah, as part of the ‘Awareness is Power‘ campaign, to share her story with the company’s female employees, of how she struggled, overcame and survived cancer, in addition to educating them about the importance of the early periodic examination.
In collaboration with the Ministry of Education, stc honored students with physical disabilities in a graduation ceremony that included students from 12 different schools for the 1st time in Kuwait as part of the MOE initiative to bring all students together under one roof to celebrate their success.
Serving as a continuation of stc’s awareness campaigns and ongoing commitment to protect the environment, stc celebrated the World Environment Day at The Avenues, which was organized in collaboration with National Geographic Ultimate Explorer under the slogan ‘Be The Change.’
Believing in the power of knowledge as a catalyst in driving innovation and growth, and in line with its values surrounding leadership and self-development, stc honored 40 high school graduates who achieved academic excellence in Kuwait in a graduation ceremony held at Salwa Al Sabah Hall, in cooperation with Marina FM radio.
Driven by stc’s CSR initiatives to support health, stc collaborated with Teeela Toys and the Kuwait Association for the Care of Children in Hospital & Bayt Abdullah Children’s Hospice (KACCH & BACCH). This collaboration aimed to draw a smile on the children’s faces and celebrate with them the joyful occasions through distributing gifts and toys to children’s playrooms in hospitals.
stc collaborated with the Kuwait Association for Needy Families in celebration of the International Day of Happiness in their special event for orphans in honoring excelling students, in which stc distributed different smart devices to around 200 excelling students in an effort to draw a smile on the children’s faces.
stc was the main sponsor of Al Qabas first Ramadan Padel Tournament with 250 teams participating and over 2000 attending the final games. The sponsorship emphasizes the Company’s role in supporting sports activities that promote a healthy lifestyle and young athletes to focus on mental and physical health and building on vital skills such as teamwork.
stc partnered with Aspire Kids Club, a local entertainment and educational children’s club that aims to promote culture and to spread a positive impact in the community in a series of humanitarian initiatives carried out under the slogan ‘Reap What you Sow’ during the month of Ramadan. The initiatives included distributing iftar meals throughout Kuwait and celebrating Gergean with the kids at the Kuwait Hospitals by distributing educational gifts to children.
stc sponsored and participated in the ‘Your Steps = Free Internet’ and ‘Al Hamra in Motion’ fitness challenge during Ramadan as part of its corporate social responsibility framework which focuses on taking action for a good cause. The initiative, organized in partnership with the Tarahom Volunteer Team gave the participants an opportunity to give back to the community through a small gesture, while also focusing on their own physical health.
stc participated as the main sponsor in the annual fundraising marathon called ‘RunKuwait’, organized by the Fawzia Sultan Healthcare Network (FSHN), a nonprofit healthcare organization in Kuwait, that is dedicated towards supporting children with special needs. This initiative aimed at supporting the special needs community and raising awareness on the importance to collectively integrate this segment of individuals in various initiatives along with other segments of society.
In line with the ‘Because We Care’ campaign launched under the Company’s extensive corporate social responsibility framework, stc partnered with Center 21, a first of its kind center for young adults with special needs over the age of 21, to participate in the closing event of the Center 21 summer camp 2022, to drive and support the social empowerment of the special needs community.
stc’s Fit Kid Camp was organized in partnership with Circuit+ Fitness and Teeela App, in line with the ‘Because We Care’ umbrella. The two-week fitness summer camp witnessed the participation of more than 40 Kids and aimed at educating the younger generation on the importance of adopting healthy habits and fitness practices at a young age.
stc collaborated with Teeela, a leading toy shop App in the GCC, to distribute gifts to children during the ‘Purple Island’ event held at 360 Mall. This initiative comes in line with stc firm belief in the importance of engaging with members of the community through diverse experiences, and served as an additional event stc has participated in as part of its summer activities for children.
In collaboration with the Kuwait Central Blood Bank, a blood donation drive was held for stc family in line with the World Blood Donor Day. The drive witnessed the participation of Tabeeby App to spread awareness on the importance and benefits of donating blood. stc was also recognized by Kuwait Central Blood Bank for its contributions towards the community.
stc launched #we_are_one campaign, in line with the return to school which primarily focused on bullying prevention across a series of activities launched by stc, as well as engaging initiatives that uplift students in their return to school. stc purple stationary was the first initiative launched under the #we_are_one campaign, where stc collaborated with the Kuwait Association for the Care of Children in Hospital (KACCH), Dabdoob, as well as International Business Center.
In collaboration with the Central Bank of Kuwait and the Kuwait Banking Association, stc supported Diraya “Be Aware” campaign, an awareness campaign initiated in response to the increased activity in fraudulent activities and cybercrimes. The Company published educational content and information on all its digital and social platforms as well as promoting the awareness initiative throughout its branches across Kuwait.
stc participated in the two-day exhibition titled “small hands…big things” that was organized to guide individuals with special needs from childhood to employment. This initiative aimed to highlight the importance of using occupational therapy to guide those with special needs throughout the various stages of their lives.
stc inked a strategic agreement with COFE App, the region’s premiere online coffee marketplace. The new formed partnership was organized as part of the 2nd season of the ‘Weyak’ initiative by stc to focus on sustainably supporting local SMEs and startups while enabling digital transformation. Throughout the collaboration, stc and the COFE App will be organizing a series of interactive activities including online activations, special events, and the largest of-its-kind COFE Festival in Kuwait.
stc formed a strategic partnership with the Mass Communications Department within the College of Arts at Kuwait University which consisted the sponsorship of the dedicated lounge for students called “stc Diwaniya”, as well as other forms of activities and events in support of students throughout their studies.
‘stc Diwaniya’ was launched in the presence of KU alumni in the social media field and serves as a recreational area for students to unwind and rest in between or after lectures. stc will be hosting a series of events and activities that aim to empower and engage students as part of the partnership.
In line with stc’s commitment towards empowering and backing the local sports community, the Company sponsored the East Padel Tournament, one of the largest tournaments in Kuwait. Considering how Padel has become the latest trend in sports amongst the younger generation, stc, through its sponsorship, encouraged those interested in competing professionally in the sport to participate. The East Padel Tournament series consisted of 4 tournaments and a total of 40 total match days in which over 1,500 players will compete for a chance to win part of the KD 16,000 total prize pool.
Through its strategic partnership with Flare Fitness, stc sponsored the 7th ‘Flare Festival’, one of the largest of its kind in Kuwait, for the third year in a row. Our participation and support towards such initiatives within the community builds on stc’s strive to promote healthy living, amongst the youth. Flare Festival included diverse competitions and unique events for adults, youth and children alike.
stc kicked off this initiative which consists of a series of social media episodes focusing on different topics showcased by social media influencers; whereby, they have each elaborated on their field of expertise, with an aim to educate and entertain the public.
Following the success of season 1, stc enhanced Weyak initiative by partnering with several local SMEs and local start-ups, to focus on enabling their digital transformation journey. The Weyak initiative launched by stc aims to support and empower local SMEs that have been creating a positive impact in the community.
On the occasion of Mother’s Day, a full campaign under #you’re_the_supporter was created to express the role of the mother in our lives.
stc launched its prostate cancer awareness campaign to raise awareness on men’s health in line with the international men’s health awareness month, November. The prostate cancer awareness campaign this year was organized in collaboration with several local companies that included MAD Recovery Center, Mubkhar, Pro Life Foods, and Flare Fitness in line with the Company ongoing support to the local SMEs.
In line with Company’s digital transformation and enriching people’s life, stc partnered with Dawrat to provide meaningful online education to the community. Through this strategic partnership that aims to support the community through sustainable education, stc and Dawrat will organize several learning initiatives that include online workshops, courses, and specialized sessions. The objective of the initiative is to cover a range of topics throughout the sessions that include photography and videography, cooking, sports and fitness, as well as traveling and creating Vlogs.