ISLAMABAD: Jazz, along with its subsidiaries JazzCash and Mobilink Microfinance Bank, has invested over Rs33 billion in the first nine months of 2024, bolstering Pakistan’s digital ecosystem across banking, financial services, cloud computing, data centers, digital healthcare, entertainment, and connectivity.
The company also contributed Rs97 billion to the national exchequer through corporate tax, sales tax, import duties, and withholding tax collected from customers and suppliers.
In a statement, the company disclosed that Rs41 billion of its investments focused on expanding high-speed mobile broadband in underserved areas, supporting research and development, fostering startup growth, and meeting payments for license renewals, spectrum fees, and other obligations.
As a result, Jazz recorded revenue growth exceeding 25% in the first nine months of 2024 compared to the same period last year. Jazz serves over 100 million customers monthly across its platforms, including telecom, banking, and entertainment. Additionally, its enterprise vertical, Jazz Business, caters to 98 of the top 100 companies listed on the Pakistan Stock Exchange (PSX).
Aamir Ibrahim, CEO of Jazz and head of all VEON Group businesses in Pakistan, emphasized the growing importance of digital services in the company’s revenue mix, highlighting their role in enhancing customer engagement and retention.
“As telecom revenues stabilize, our focus has shifted to higher-growth areas such as data centers, fintech, and IT solutions,” Mr. Ibrahim said. He added that the rapid growth of the data center, fintech, and software industries positions Pakistan as an emerging player in the global IT landscape.
“We believe our investments in these sectors will further elevate Pakistan’s presence on the global stage in the coming years,” he noted.
The company is also integrating artificial intelligence (AI) into its operations and plans to expand its data hosting capacity within the next three years.
Jazz currently operates the Jazz Digital Park, a state-of-the-art, Telecommunications Industry Association (TIA) Tier-3 certified data center, developed with an investment of over $8 million.
