Man Broadband Company seeks an IPO and grows its fiber network to provide connection.

By the end of October 2024, Oman Broadband Company’s fiber optic network will have expanded to over 886,500 units throughout the Sultanate, marking a major milestone.

Muscat: This includes 422,100 units in Muscat Governorate and 464,400 units in other governorates, while the number of active subscribers has surpassed 302,200, marking a significant step in Oman’s digital transformation.

Eng. Sultan bin Ahmed Al Wahaibi, CEO of Oman Broadband Company, announced that the company aims to cover 97% of Muscat Governorate and approximately 50% of other regions within the next three years. The ultimate goal is to connect one million housing units with fiber optic infrastructure.

“The company’s plan includes enhancing investment in infrastructure and expanding partnerships with various stakeholders, noting that the company’s investments and movable assets have exceeded about RO 287 million since its establishment in 2014.,” Eng. Al Wahaibi said. He emphasized the company’s role in bolstering Oman’s global ranking in telecommunications infrastructure and supporting national initiatives like the Digital Economy and Sustainable Development programs.

Oman Broadband boasts a remarkable 99.5% Omanization rate, with 190 Omani employees and an additional 281 Omanis working through contractors. The company supports over 694 SMEs and 60 freelancers.

Since its establishment, the company has indirectly or directly engaged 1,194 local companies and trained 562 job seekers and 115 university students.

Oman Broadband is spearheading major projects, including the Sultan Haitham City fiber network, which aims to connect over 10,000 housing units, and the design phase of the Sohar Smart City and Al Khuwair Downtown projects.

To fund its expansion, the company plans to offer shares for public subscription, enhancing its financial capabilities and supporting infrastructure projects to meet the rising demand for broadband services.

With 50 partnership agreements across sectors such as oil, gas, water, and electricity, Oman Broadband aims to advance Oman’s digital connectivity.

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