STC investments to focus on digitization: CEO
The need for digital transformation of telecoms reflects the local and international reality of telecommunications and information technology, and STC will gradually move from conventional telecommunications to digitization. This was stated by Khaled Biyari, STC Group CEO, at a recent forum.
“The new STC Academy will soon open in Riyadh and will change the culture of all its employees in dealing with a new era in the world of communications and information technology. The company’s focus in the future will be on cloud computing, information security, Internet of Things, digital financial services and digital media,” he said.
Biyari said the company’s investment in the “Dawri Plus” application through Intigral has been successful. The application has two million subscribers and is set for expansion across other Arab countries.
“The next three years will bring radical changes for the company as STC will make new investments that are completely different from the current conventional communication technologies, which are beginning to decline gradually,” he added.
The STC CEO said the company signed SR6 billion ($1.5 billion) worth of deals at the GITEX 2017.
“These contracts are part of the company’s capital investments,” he said.
Biyari said STC venture “500 MN$” supports the Kingdom’s Vision 2030. The forum also reviewed experiences of youth involved with the telecom provider’s “InspirU” business incubator.
STC Group is the largest telecom provider in the Middle East and North Africa (MENA) region. It was established in 1998 and currently counts around 100,000,000 customers worldwide.
In Saudi Arabia, STC operates the largest modern mobile network in the Middle East as it covers more than 99 percent of the country’s populated areas, in addition to providing 4G mobile broadband to over 85 percent of the population across the Kingdom.