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stc ranked first in MENA as brand grows 16% year-on-year

stc ranked first in MENA as brand grows 16% year-on-year

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stc has ranked first among the communications and IT companies as per the Middle East and North Africa (MENA) classification of Forbes magazine, with its brand value growth of 16% year-on-year to reach US$10.6 billion.

The Saudi digital enabler also advanced seven positions globally to rank 184th Most Valuable Brand in the Middle East and Africa (MEA) for 2022.

The global progressive ranking came in as a conclusion of the recent achievements performed by the company, especially after stc successful secondary public offering of its 100.2 million shares, which represented 5.01% of its shares by the Public Investment Fund. The offering represented a significant achievement for stc as a joint stock company, as it led to enhancing the liquidity of its shares, making it accessible to a larger group of investors, and diversifying its investments and strategy in investing in various fields, including the financial technology (FinTech) after stcpay obtained its license as a digital bank from the Central Bank of Saudi Arabia (SAMA).

stc has also established the largest data centre project in the region with an area of more than 180,000 square metres during the third phase with 16 data centres, which included 17,000 storage units, serving eight sites distributed over six cities.

stc Group’s achievement reflect the affirmation of the success of its strategy, by focusing on providing a distinguished customer experience and a pioneering market growth. It was also able to maintain its leadership and enhance its brand’s strength in the Kingdom of Saudi Arabis and wider MENA region, based on its several unconventional paths enriching the experience of its customers, with digital solutions and services, as it did in 2021.

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