The stc Group has once again earned the title of the most valuable telecommunications brand in the Middle East for the fourth consecutive year. Additionally, the group holds a distinguished position among the top 10 robust telecom brands in the region. This recognition is based on the pivotal report produced by Brand Finance, which benchmarks brand values across various sectors and countries.
Annually, Brand Finance assesses 5,000 of the globe’s premier brands and generates more than 100 reports that rank brands in different sectors and regions. Notably, the stc Group has secured a spot in the Brand Finance Global 500 2024 ranking, which features the world’s 500 most valuable and potent brands.
According to the report, the stc Group has exhibited remarkable growth, with a 12% increase in brand value, now estimated at $13.9 billion. This surge has positioned stc as the 149th most valuable brand worldwide within the Global 500 ranking, marking the first instance a consumer brand from the Middle East has broken into the top 150 on a global scale. This is an advancement of ten places from its previous rank of 159 in 2023.
stc Group’s press release highlighted a year of unprecedented success in 2023, marked by significant strides in enhancing digital infrastructure. This includes a substantial investment in their 5G network, amounting to SAR3 billion. Such efforts have allowed stc to extend 5G capabilities to over 75 cities across the Kingdom, providing more than 90% of major cities with cutting-edge 5G technology.
The group’s international footprint is also expanding, with strategic global acquisitions being a key component of their growth. A notable example is the acquisition of a 9.9% stake in Spain’s Telefónica Group for SAR8.5 billion (€2.1 billion), making stc the largest shareholder in Telefónica.
These milestones reflect stc Group’s commitment to a growth strategy that not only enhances connectivity within Saudi Arabia but also reaches across international borders. The group continues to integrate and offer advanced technologies, broadening the spectrum and reach of products and services available to its customers.