Still the most prominent telecommunications carrier in the region, Etisalat of the United Arab Emirates is headed by chairman Mohammed Omran, whose rank has moved down from its position in the top 30s on the power list last year.
Etisalat had a monopoly in the industry spanning more than three decades since the company assumed a role as the main provider of telecommunications since 1976. Etisalat faced competition from Du once the latter was awarded the second telecoms license in the United Arab Emirates in 2006. However, Omran’s impact in the telecommunications industry shone through when Etisalat won the rights to develop Egypt’s third mobile network in 2006.
Etisalat continues to expand on an international platform, establishing presence in Pakistan, Saudi Arabia, Algeria and West Africa.
Omran has guided the firm to become listed as the 140
th
among 500 companies in the world in terms of market capitalization in a survey done by the Financial Times.
The company is strongly tied to the government, to which 50% of Etisalat’s profits are directed through royalty fees. The telecommunications firms is known to be the biggest contributor to development programs of the UAE federal government, exclusive of the oil sector. Omran has had a hand in giving Etisalat a socially responsible business perspective, and the company has won a number of awards as such. Etisalat is renowned for its nationalization program as well.
There are currently more than five million subscribers to the services provided by Etisalat, including mobile, internet and e-vision capabilities.