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WELCOME TO THEWORLD’S FASTESTMOBILE NETWORKA N N U A L R EPO R T 2 02 01
TABLEOF CONTENT01. Key Highlights of 20200115. Saudi Arabia5302. Business Snapshot0316. Egypt5703. Chairman’s Statement0517. Morroco6104. Board of Directors0718. Pakistan6505. Etisalat’s Journey1119. Afghanistan7306. Group CEO’s Statement1320. E-vision7407. Management Team1721. Etisalat Services Holding7508. Vision and Strategy2122. Human Capital7709. Response to COVID-192523. Corporate Social Responsibility8310. Key Events During 20203124. Corporate Governance9111. Operational Highlights3325. Internal Control9712. Brand Highlights3726. Financials10313. Etisalat Group’s Footprint4518514. United Arab Emirates4727. Notice for AnnualGeneral Meeting
KEYHIGHLIGHTSOF ONAED BILLIONAED BILLIONAED BILLIONEBITDANET PROFIT120.0*7.1FILSAED BILLIONDIVIDENDPER SHARECAPEX*Inclusive of one-time special dividend
ntegratedEtisalat remains committed to realising its vision of ‘driving thetelecommunications company with around 154 milliondigital future to empower societies’. This vision is continuingcustomers. The Group offers a range of communicationto guide the Group in its transition from a traditional telecomservices to consumers, businesses and government segments inmultiple regions. Its portfolio of products and services includesmobile communications, fixed broadband, Internet, Internetprotocol television (IPTV), voice, carrier services, cloud andsecurity, Internet of things (IoT), mobile money, and other valueadded services (VAS).operator to an integrated digital solutions provider.The Group and its operating companies have sustained theirinvestment in network infrastructure, spectrum, licences andthe latest technologies, with the aim of empowering customers,shareholders and society. Etisalat’s aim for its networks is that theywill do more than just connect people. Etisalat intends to make itsThe Group’s operations are spread across three geographic regionscustomer’s lives safer and help to conserve natural resources. Thein the Middle East, Africa and Asia. It operates in 16 countries andGroup’s capital expenditure is focused on investment in buildingis the highest-ranking or second-highest ranking operator in termsdigital capabilities and data centres, the enhancement of networkof value share in most of these countries. Its operations in maturecapacity and speed, and the deployment of 5G.markets are experiencing slower revenue growth in traditionaltelecom services due to stricter regulations, over-the-top (OTT)disruptions and more competitive environments but continue togenerate strong cash flow. The main sources of revenue growthare digital services and international markets. This is supported byAs a result of its investments and unceasing efforts, Etisalat wasrecognised as the fastest mobile network in the world by Ookla. Itwas also recognised as the fastest fixed broadband network in theGulf Cooperation Council (GCC) and Arab region.growth in the Group’s subscriber base and a higher penetration ofIn 2020, Etisalat maintained its high cash generation in order toits data services. Etisalat’s credit ratings continue to be one of thecontinue rewarding its shareholders and growing its business. Thehighest in the telecom sector (AA-/Aa3), reflecting the company’sGroup has sustained a generous dividend programme, with closestrong balance sheet, its proven long-term performance and itsto AED 24 billion returned to shareholders in the past three years.stable cash flow.It will continue to assess organic as well as inorganic expansionThe telecom industry has witnessed significant transformation overopportunities to further accelerate its growth.the years. This transformation has been further accelerated due toIn the coming years, the Etisalat Group will maintain its focus onthe COVID-19 pandemic. The industry (including the Etisalat Group)international operations as an engine for growth while emphasisinghas made it possible for businesses to sustain their operations andthe digital space as the prime driver for sustainable growth acrossfor people to stay connected during these unprecedented times.all markets. The company will continue the digital transformationIt has also supported e-learning and delivered digital healthof its business, focusing on innovation in its existing assets bysolutions, etc. As such, new and exciting growth opportunitiesbuilding new capabilities that are digitally enabled and sustainable.have been created for the Group, across the different markets, asBy continuing to create the world’s best and fastest networks,connectivity and digital solutions have increased in importance.Etisalat Group will deliver returns for its shareholders and longterm value for the societies in which it operates
ETISALAT GROUP A N N U AL R EPO R T 2 0 2 0On the whole, we are very pleased with our financialIn 2020, the board of directors and I designated newandnumbersmanagement to oversee this transformation. This includedsurpassed those of various market leaders, while manythe appointment of a Chief Transformation Officercompanies and sectors struggled to stay afloat.and Etisalat Group’s first female C-suite executive, ouroperationalresultsfor2020.OurGroup Chief Human Resources Officer. The appointment isEtisalat’s share price performance remained positivea testament to our commitment to gender equality in thethroughout the year. In addition to sustaining our totalworkplace and is in line with our values.dividend of AED 0.80 per share, we are pleased to beproposing a special one-time dividend of AED 0.40 pershare, bringing the total dividends for the year to AED 1.20Maintaining a Positive Outlookper share representing a dividend payout ratio of 115% andDespite news about virus mutations and concerns ofa high dividend yield for year 2020. This is a testament toprolonged lockdowns, we remain positive about ourour commitment of enhancing shareholder value.prospects for 2021 and beyond. The future looks promising,as COVID vaccines are currently being rolled out, robustThe Changing LandscapeThe telecom industry has been evolving drastically with agovernment recovery plans to enhance the economies,and a number of mega events are expected in our keyoperating markets.number of challenges destroying value for the sector as aCHAIRMAN’SSTATEMENTwhole and for shareholders in particular. The competitionThe digital economy will drive global progress byfrom OTT service providers cannot be disregarded. Theincreasing digitisation in the future. The lessonsresult of this competition is that lucrative corethat were learnt in shifting to a ‘new normal’ will openrevenue is being eroded, and operators are being forcedup many new business opportunities. The industries thatto rethink the way in which they offer their services. Theirare pre-emptively adopting emerging technologies andfocus on areas of growth has become more aggressive,telco-enabled digital services have upside potentialparticularly in the digital space. What’s more, the currentdue to the improvements in and increased efficiency ofglobal recession and economic pressures are forcingtheir operations. The adoption of these technologies andbusinesses to rethink their supply chain models andservices in all nations is critical to realising the Sustainableto strive for synergy wherever possible, while rationalisingDevelopment Goals.investments and the cost of networks.TClosing Remarkshe Annual Report for 2020 presents the mainwe are not claiming to have foreseen a global pandemic inbusiness highlights of the Group during the eventsany of our scenarios, we have always planned for a futureof an unprecedented year. It evidences our sheerthat is predominantly digital.resilience during this time and outlines the Group’s visionand plans for the coming years.We have long been recognised as one of the most valuablebrands in the Middle East and Africa, as we have investedThe Repercussions of an Unforgettable YearThe black swan events of 2020 catalysed rapid, drasticchanges to the way in which we live and work. Neverbefore have businesses and individual citizens been asreliant on the telecom industry in order to stay connected.It goes without saying that telecom operators were underimmense pressure in 2020. At Etisalat Group, our primaryfocus was to ensure business continuity and sustain highquality services in a way that safeguarded our employeesand customers. This was especially true for criticalverticals, like healthcare and education, stemmed from oursocial responsibility convictions and to support society as awhole. The flexibility and speed with which we adaptedto the abrupt changes in 2020 are commendable. While5in infrastructure and digital capability for many years.Our investments have helped us to maintain our positionas a leading telecom providers in terms of ICT readinessand adoption, broadband subscriptions, fibre penetrationand mobile coverage, among otherthings. Although weaddressed our ICT readiness long before the pandemic,some of our customers were, understandably, hesitantto join us on ‘the digital ride’. The silver lining in 2020was that the pandemic set the tone for a ‘new normal’by pushing us to trial and adopt new solutions. Thisaccelerated digital transformation in the countries inwhich we operate, helping our customers to work throughadoption challenges.A Call for TransformationLet me close by extending my appreciation to theWe believe in the work that our Group does and our roleleadership of the UAE, who are the inspiration andin transforming societies and businesses of all sizes. Wemotivation behind every success that the Etisalat Groupunderstand the necessity of our own transformation,has had on its journey. Our trust in the support of ourgiven the enormous changes that are taking placeleadership is unmatched and the UAE’s unique positioningin our ecosystem and the ambitious agenda that we areand strong political ties serve as catalysts for ourpursuing. For this reason, we have launched a Group-wideoperations in all markets.transformation programme to address the challengesand seize potential opportunities while shaping a newA note of gratitude, too, for our shareholders, customersfuture for our Group as a leading telecommunicationsand employees. It has been a difficult year, and we trulyprovider.value the collaborative spiritof all our stakeholders.Thank you for allowing us to be a part of your life. WeAs Etisalat continues to transform full throttle, allpromise to remain faithful to our vision of ‘Driving thekey aspects of our business are being rejuvenated.Digital Future to Empower Societies’There is a particular focus on digital capability andtalent development across the Group. The key themesof digitising the customer experience, scaling up digitalservices and maximising group value capture will drivemany of our activities, going forward.Obaid Humaid Al TayerChairman - Etisalat Group6
ETISALAT GROUP A N N U AL R EPO R T 2 0 2 0BOARD OFDIRECTORSObaid Humaid Al TayerHesham Abdulla Qassim Al QassimChairman of the BoardChairman of Investment and Finance CommitteeBoard MemberChairman of Nomination and Remuneration CommitteeEssa Abdulfattah Kazim Al MullaSamer Saleh HalawaVice Chairman of the BoardChairman of Audit CommitteeBoard MemberMember of Audit CommitteeSheikh Ahmed Mohd Sultan Bin Suroor Al DhahiriBoard MemberMember of Audit Committee7Mariam Saeed Ahmed GhobashBoard MemberMember of Investment and Finance CommitteeMember of Nomination and Remuneration Committee8
ETISALAT GROUP A N N U AL R EPO R T 2 0 2 0BOARD OFDIRECTORSSaleh Abdulla Ahmad LootahBoard MemberMember of Investment and Finance CommitteeBoard MemberMember of Investment and Finance CommitteeMember of Nomination and Remuneration CommitteeJuan VillalongaKhalid Abdulwahed Hassan AlrostamaniBoard MemberMember of Investment and Finance CommitteeBoard MemberMember of Audit CommitteeAbdelmonem Bin Eisa Bin Nasser AlserkalBoard MemberMember of Nomination and Remuneration Committee9Otaiba Khalaf Ahmed Khalaf Al OtaibaHassan Mohamed Al HosaniCorporate Secretary and Board Rapporteur10
1976 Emirates Telecommunication Corporationis foundedETISALAT’SJOURNEY1982 Emirates Telecommunications Corporationlaunches Middle East’s first mobilenetwork1983 The ownership structure changes with theUnited Arab Emirates government owninga 60% share in the Company and theremaining 40% publicly traded1994 The Middle East’s first GSM service isintroduced in the UAE Etisalat launches Emirates Data ClearingHouse, which is now one of the world’sleading clearing houses providing acomplete solution to GSM operators tooffer roaming facilities to their customers1995 Internet services are rolled out across thecountry, another first in the region1996 Etisalat becomes one of the foundinginvestors in satellite telecommunicationsprovider, Thuraya1999 The Middle East’s first broadband Internetservice using the latest ADSL technologiesis introduced Etisalat buys stake in Tanzanian operatorZantel, its first step towards becoming amajor international telecom group2000 Etisalat introduces the E-Vision brand forits cable TV services2003 Etisalat launches the Middle East’s first 3Gnetwork2004 Etisalat wins the second license in SaudiArabia, introducing Etihad Etisalat, Mobily Etisalat buys a stake in Canar, a fixed lineoperator in Sudan2005 Etisalat acquires a stake and takesmanagement control of PTCL, the incumbent fixed operator in PakistanEtisalat expands into West Africa bytaking a stake in Atlantique Telecom withoperations in Benin, Burkina Faso, theCentral African Republic, Gabon, IvoryCoast, Togo, and Niger2006 Etisalat wins the third mobile license inEgypt and launches the country’s first 3Gnetwork Etisalat awarded a license to providemobile services in Afghanistan Etisalat Services Holding is formed tomanage eight business units that offermission-critical telecom related services2007 Etisalat acquires a stake in a green-fieldoperator EMTS in Nigeria, the largest andfastest growing market in Africa2008 Etisalat completes the rollout of anationwide fibre optic backbone in theUAE2009 Etisalat acquires Tigo, a Sri Lankanoperator, which later rebrands to EtisalatLanka2011 Etisalat introduces 4G (LTE) experience toits customers in the UAE2012 Etisalat wins 3G license in Afghanistanand Ivory Coast and launches the first 3Gservices in Afghanistan2014 Etisalat completes the acquisition of a 53%shareholding in Maroc Telecom from Vivendi Etisalat successfully issues its inauguralbond under its Global Medium Term Note(GMTN) programme listed on the IrishStock Exchange2015 Etisalat Group completes the sale ofits operations in Benin, Central AfricanRepublic, Gabon, Ivory Coast, Niger, Togoand Tanzania Federal government allows foreign andinstitutional investors to own up to 20%of Etisalat Group’s shares Inclusion of Etisalat in the MSCI indexes2016 Etisalat Group completes the sale ofEtisalat’s shareholding of 92.3% in Canar Etisalat Misr acquires 4G license and fixedvirtual license in Egypt Inclusion of Etisalat Group in FTSE RussellEmerging Markets Index2017 Etisalat Misr launches 4G services in Egypt Etisalat launches new mobile brand“Swyp” targeting the youth segment inthe UAE Etisalat Group exits Nigeria Etisalat successfully completes the fastest5G live trial globally reaching 71 Gbps2018 Etisalat Group’s shareholders approve ashare buyback program involving 5% ofthe capital Etisalat Group exits Thuraya and merges itsoperation in Sri Lanka with CK Hutchison Maroc Telecom acquires 4G licenses inMali and Togo Etisalat is recognized as the most valuablebrand in the MENA region2019 Etisalat Group lifts restrictions on foreignshareholders voting rights Maroc Telecom acquires Tigo Chad fromMillicom Etisalat launches eWallet, a mobile digitalpayment service Etisalat enables 5G network across severalkey sites in the UAE Onatel launches 4G services in BurkinaFaso Etisalat is awarded the most valuableconsumer brand by Brand Finance2020 Etisalat UAE recognised as the fastestmobile network operator globally byOokla Speedtest Etisalat Group completes the acquisitionof Help AG’s businesses in the UAE andKSA Etisalat named ‘Most Valuable ConsumerBrand’ in MEA for the third consecutiveyear by Brand Finance Maroc Telecom’s subsidiary Mauritel inMauritania awarded 4G license Etisalat Misr awarded 20MHz of spectrumin the 2600MHz band
ETISALAT GROUP A N N U AL R EPO R T 2 0 2 0fruit of years of hard work. Etisalat was also recognised as thewe are continually improving operational excellence, rationalisingstrongest brand across all categories in the Middle East and Africa,our portfolio and enriching it with assets that maximise ROI forand as the most valuable telecom brand portfolio for the fourthshareholders. Moreover, 5G selective deployment will continue inconsecutive year - another great achievement four our brand,2021, unlocking new business opportunities for the Group.which embodies the spirit of togetherness.transformation. We are currently leveraging our wide range offinancial resilience during the year. Our Group performed well indigital technologies and services and powering a great digital-firsta challenging environment achieving strong financial results, withexperience to encourage digital adoption by our customers. Ouronly a slightly lower revenue than the previous year attributedown digital transformation will enable us to execute our strategyto the impact of COVID. Revenue decreased by 0.9% to AED 51.7and will facilitate a paradigm shift to a new operating model thatbillion, however, Group’s agility on cost optimisation initiativesnurtures innovation and agility.improved EBITDA by 0.3% to AED 26.4 billion, resulting in a healthyEBITDA margin of 51%. Consequently, the Group’s consolidated netprofit grew by 3.8%, reaching a record high of AED 9.0 billion.Most of the growth in 2020 can be attributed to internationaloperations. Moreover, our credit ratings continued to be one of thehighest in the telecom industry, reflecting the company’s strongbalance sheet and sustainable cashflow.success. For this reason, the Group will be investing more in talentdevelopment and retention, leadership bench strength and genderequality in the workplace, going forward. Our efforts in this regardcommenced in 2020, with the employment of the Etisalat Group’sfirst female C-suite employee, Ms Dena Al Mansoori. As the newChief Human Resources Officer, Al Mansoori will be leading ourGroup talent strategy and driving digital capability at Etisalat,and related macroeconomic pressure resulting in lower revenue.among several other mission-critical objectives.witnessed strong performance supported by Maroc Telecom Group’sexpansion of subscriber base and revenue, mainly due to growth indata and mobile money segments. In Egypt, Etisalat Misr deliveredanother year of double-digit growth in revenue and EBITDA whileimproving market position. Our operations in Pakistan stabilized therevenue decline in local currency by accelerating growth in fixed andmicrofinance segments that offset the decline in mobile. In addition,Mobily continued its transformation and delivered a strong set ofII personally believe in the power of people and their role in ourIn the UAE, our operations were mostly impacted by COVID-19However, this was compensated by our international portfolio thatGROUP CEO’SSTATEMENTThe linchpin of our strategy is the acceleration of digitalThe telecom sector as a whole demonstrated considerablefinancial results and resumed dividend payout.In the UAE, we are eager to participate in the long-awaited Expo2020 and to share our achievements and global records during thecountry’s 50th Golden Jubilee celebrations.A Word of AppreciationIn closing, I would like to extend my gratitude to the leadership ofthe UAE for their constant support and their exemplary managementof the COVID crisis. Their guidance was the driving force behindthe continued welfare of our society and the economic recoveryt gives me great pleasure to share the Etisalat Group’s resultsensure uninterrupted, high-quality service delivery. We workedfor 2020. It is an honour to take the helm of Etisalat Groupclosely with the relevant governments and authorities, and, throughWe are continuing to observe the macroeconomics in all markets,the Group and others to worked hard to support the UAE becomeas the Group CEO, and I look forward to another exciting andour offerings and free initiatives, we came to the aid of the stu-with a positive outlook in light of the vaccine rollout andone of the top five countries around the world (in over 30 indicatorssuccessful year and journey ahead.dents, organisations and societies where we operate.government stimulus packages.of competitiveness), in terms of its technology infrastructure, ICTThe extraordinary year of 2020 will always be remembered forThe telecom industry has proven to be the backbone of the new-the novel COVID-19, which has irreversibly transformed the waynormal and a tool of empowerment for the society. The brandThe Way Forwardin which we live and do business around the globe. The pandemicimage of telecom operators around the world was defined byeliminated the digital divide and accelerated digital transformationtheir approach to the pandemic. At Etisalat, we are proud of ourand, hence, the future. Etisalat Group demonstrated resilience,approach, which stood out among the responses of other globalagility, social responsibility and impressive results, compared tomany other businesses during this time. It provided a junctureoperators across our operating markets. We have demonstratedresilience, the ability to respond efficiently during a crisis andWe are determined to keep the incredible transformation we havebeen experiencing in 2020 to continue this year. We believe that wehave an advantage over our peers and other industries, but in orderfor us to sustain our gains, we must address various industrywidechallenges and operational areas of improvement across the Group.This requires us to look beyond our business-as-usual achievements,experienced by the country. Their efforts became a rallying cry foradoption and investment in telecom services.We also owe our customers and shareholders immense appreciationfor their trust in our vision, and we are grateful to our dedicatedemployees for bringing that vision to life. They have gone aboveand beyond to serve our customers and sustain our premiumservices, both during times of prosperity and times of exceptionaldisruptionfor us to reflect and transform at Group level and to affirm ourpreparedness from years of adept business continuity and crisisposition as a world-class telecom operator.management planning.Solidarity in Times of UncertaintyRobust Business ResultsWe rose to the challenge during the COVID-19 outbreak by repre-As a Group, there was much for us to celebrate in 2020, includingspace. With regard to the latter, we have observed considerablesenting our communities and taking immediate action tothe recognition that we received in the UAE for being the fastestuntapped potential in the cloud, IoT and cyber security space,Hatem Dowidarwhich will fuel digital growth and rebalance telecom revenues. OurChief Executive Officer,international operations are always under a magnifying glass, asEtisalat Groupprotect our teams and customers; support critical verticals; and13mobile network in the world. This well-deserved accolade is thein order to leapfrog in several strategic focus areas.We believe that our major sustainable drivers of growth atEtisalat continue to be our international portfolio and the digital14
ENABLING HYPER CONNECTIVITYTHROUGH THE FASTEST MOBILENETWORK ON THE PLANETBased on analysis by Ookla of Speedtest Intelligence data Q2-Q3 2020
ETISALAT GROUP A N N U AL R EPO R T 2 0 2 0MANAGEMENTTEAMKhalifa Al ShamsiChief Strategy & Corporate Governance Officer, Etisalat GroupHatem DowidarChief Executive Officer, Etisalat GroupMr. Hatem Dowidar was appointed CEO of Etisalat Groupon December 2020. He joinedEtisalat Group in September2015 as Chief Operating Officerand was appointed as Chief Executive Officer Etisalat International in 2016. Prior to this, Mr.Dowidar was Chairman of Vodafone Egypt and Group Chief ofStaff for Vodafone Group. Heinitially joined Vodafone Egyptin its early start-up operationin 1999 as Chief Marketing Officer. After successfully undertaking two group assignmentsand the role of CEO VodafoneMalta, he became the CEO ofVodafone Egypt from 2009 to2014. Mr. Dowidar started hiscareer in AEG/Deutsche Aerospace (Daimler Benz Group) inEgypt, before moving to Marketing in Procter & Gamble,where he held various managerial roles. Mr. Dowidar serves onthe Boards of Maroc Telecom,PTCL, Ufone and Etisalat Misr.He holds a Bachelor’s degree inCommunications and Electronics Engineering from Cairo University and an MBA from theAmerican University in Cairo.Karim BennisChief Financial Officer, Etisalat GroupDr. Karim was appointed asChief Financial Officer of Etisalat Group in July 2020. Priorto this role, he was Vice President Financial Control andPlanning of Etisalat Group since2013. His previous positionsinclude Deputy Managing Director and CFO at TractafricMotors Corporation, FinancialController, Strategic Planning,Subsidiaries Management andInvestor Relations of MarocTelecom - as a Secondee of Vivendi Group - as well as Financial Controller of Crown Holdings Europe. Mr. Bennis serveson the Boards, Executive Committees and Audit Committeesof Etisalat Egypt, PTCL andUfone and is a Board member ofAtlantique Telecom Holding. He17ious industries such as retail, oiland gas, banking, and finance.In 2020, she established WhiteBox HR, a tech company thatuses Machine Learning, PeopleScience, and Organisation Network Analysis. Ms. Al Mansooricurrently serves on the Board ofEtisalat Services Holding. Sheholds an MBA from the Univer-held various key senior positions including Vice Presidentand Senior Vice President ofMarketing of Etisalat UAE.Mr. Al Shamsi serves on theBoards of Mobily, PTCL, Ufoneand Etisalat Afghanistan, andis the Chairman of E-Visionand Managing Director ofMobily. Mr. Al Shamsi has aBachelor’s degree in ElectricalEngineering from the University of Kentucky, USA.Ali AmiriChief Carrier & Wholesale Officer, Etisalat Groupholds a PhD in Economics andTechnology from ConservatoireNational des Arts et MétiersParis, a Masters in Applied Economics and Corporate Financefrom Sciences-Po Paris, a Masters in Audit and ManagementAccounting from SKEMA Business School and an ExecutiveMBA from École Nationale desPonts et Chaussées Paris.Mr. Amiri was appointed asGroup Chief Carrier & Wholesale Officer of Etisalat Groupin March 2016. Mr. Amiristarted his career with Etisalatin the engineering departmentand held various key positionsincluding Executive Vice President Operations and ChiefCarrier & Wholesale Officer ofEtisalat UAE operations. Mr.Amiri served as Chairman ofthe GSM Arab World and asa member of the GSM Association Executive Committee.He is currently Chairman of acouple of international cableconsortiums, such as IMEWE &RCN. Mr. Amiri also serves asthe Chairman of the Board ofe-Marine PJSC. Mr. Amiri holdsa B.Sc. degree in Electronic and Electrical Engineeringfrom King’s College London.Obaid BokishaChief Transformation Officer, Etisalat GroupDena Al MansooriChief Human Resources Officer, Etisalat GroupMs. Dena Al Mansoori wasappointed as Chief HumanResources Officer of EtisalatGroup in November 2020. Priorto this role, she was the ChiefHuman Resources Officer ofthe Central Bank of the UAE.Ms. Al Mansoori has over 17years of experience includinginternational companies in var-Khalifa Al Shamsi was appointed as Chief Strategy &Corporate Governance Officerof Etisalat Group in 2016. Prior to this role, Mr. Al Shamsi held the position of ChiefDigital Services Officer andSenior Vice President of Technology Strategy of the EtisalatGroup. Since joining Etisalatin 1993, Mr. Al Shamsi hassity of Strathclyde in Scotlandand a Bachelor of Science inManagement Information Systems and Finance from BostonUniversity in USA.Obaid Bokisha was appointedas Chief Transformation Officerin October 2020. Prior to thisrole, he served as Chief Business Continuity & CorporateQuality Officer (October 2017)and before that he served asChief Procurement Officer ofEtisalat Group (June 2012).Since joining Etisalat in 1998,he had been assigned variousresponsibilities contributing tothe network Planning, Optimization, design and implementation of Mobile systems coveringGSM, UMTS. Other positionsheld include Vice President Mobile Networks Planning & International Support of EtisalatUAE and Senior Vice PresidentMobile Networks Optimizationof Etisalat Group. Mr. Bokishacurrently serves on the Boardand Audit Committee of eVi-sion. He previously served as aboard and committee memberof international operating companies of Etisalat Group suchas Etisalat Misr, Etisalat Nigeria, CanarTel and Zantel. He hasa first class honors degree inCommunications Engineeringfrom the Etisalat College of Engineering.18
ETISALAT GROUP A N N U AL R EPO R T 2 0 2 0MANAGEMENTTEAMAbdeslam AhizouneChairman of the Management Board, Maroc TelecomMr. Ahizoune has been Chairman of the Maroc TelecomManagement Board since February 2001 and served as CEOfrom 1998 to 2001. Earlier, hewas Minister of Telecommunications in four different governments. Mr. Ahizoune hasbeen Chairman of the Moroc-can Royal Athletics Federationsince 2006, and also serves as aBoard member of several foundations: Inter Alia, King Mohammed V for solidarity, KingMohammed VI for the environmental protection, and PrincessLalla Salma against cancer. Heis also the Vice-President ofLa Confédération Générale desEnterprises du Maroc (CGEM)and the President of its Moroccan-Emirati economic commission. He holds an engineeringdegre
02. Business Snapshot 03 03. Chairman's Statement 05 04. Board of Directors 07 05. Etisalat's Journey 11 06. Group CEO's Statement 13 07. Management Team 17 08. Vision and Strategy 21 09. Response to COVID-19 25 10. Key Events During 2020 31 11. Operational Highlights 33 12. Brand Highlights 37 13. Etisalat Group's Footprint 45 14.
