Charting New Digital Horizons with Khalifa AlShamsi
The global financial, digital, and telecommunications landscapes are rapidly changing, becoming increasingly interconnected and integrated. This evolution has given rise to super-apps, all-encompassing platforms that combine various digital services such as payments, content, messaging, and more into a single user-friendly interface.
In the Middle East and North Africa (MENA) region, this transformation is particularly pronounced. The region is witnessing a surge in fintech innovations, digital services adoption, and the rise of super-apps. The convergence of these trends is redefining how businesses operate, presenting unprecedented opportunities for both established players and new entrants.
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Khalifa AlShamsi, CEO of e& life
In the latest episode of Couchonomics with Arjun, the spotlight shines on a key figure who is playing a central role in this digital revolution: Khalifa AlShamsi, Chief Executive Officer at e& life, an arm of the global technology and investment group e&. With nearly three decades of experience in telecom, media, and ICT, AlShamsi has shaped the evolution of digital services in the region, leading e& life's endeavors to build technologies that allow people to experience more of life, every day.
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The Evolution of e& life
AlShamsi shared his insights into e& life's evolution and its focus on B2B business. e& life has been putting more emphasis on its B2B business in the last six years. Under their UAE operations, they had a digital unit called Etisalat Digital, which showcased the value they could create, not only for them in terms of revenue, but also for their larger clients. They realized the potential beyond pure telecom services, with a vision of delivering consumer digital services across markets.
The CEO emphasized the company's B2C focus and its readiness to expand across multiple markets. This approach signifies e& life's commitment to pushing the boundaries of traditional telecom services and diversifying into digital services.
The Fintech Drive
Khalifa AlShamsi also highlighted the company's focus on fintech, acknowledging it as a crucial part of e& group's strategy. E& Money, their financial service platform, offers much more than payment and remittance services. It has been developed as a platform offering diverse financial services, including credit and lending services. Their approach to financial services stems from the belief that everyone should have access to the full suite of services.
The emphasis is on tailored products that cater to different customer segments and needs. They understand that the requirements of customers in diverse markets like Pakistan, Egypt, and the UAE will vary, and they strive to provide solutions that appeal specifically to each segment.
The Super-App Bet
A significant point of discussion was Etisalat's recent $400 million investment into the super-app side of Careem. Super-apps offer a myriad of services under one umbrella, from payments and shopping to ride-hailing and food delivery. The investment into Careem signifies a big bet on this new model, aiming to streamline the user experience by reducing the need for multiple apps.
The CEO believes that technology evolution and the accelerated growth in AI could further fuel the concept of super apps. This could potentially lead to faster, seamless interactions for users, making these super apps even more user-centric.
Future Verticals
Looking towards the future, Khalifa AlShamsi acknowledged that they are exploring other verticals that are typically slower in terms of digital adoption. A significant area of interest is the healthcare industry. Despite being a more complex sector, given its regulatory requirements and ecosystem complexity, it's an area ripe for disruption and value creation.
Moreover, the potential of blockchain in the media and production sector is another avenue of exploration. From reducing remittance costs to enabling new forms of investments via tokenization, blockchain offers exciting possibilities that AlShamsi believes will significantly impact the industry.
Market Penetration and Expansion
The CEO also elaborated on e& life's market strategies. He stated that the success of their super-app hinges on scaling and geography, emphasizing that each market, like Saudi Arabia, is unique and requires a customized approach. Success in these individual markets is pivotal to their overall story.
Their customer loyalty program, Smiles, has been a major success and a testament to their tailored approach. They are looking forward to replicating this success on a larger scale across different countries and services.
Closing Remarks
Khalifa AlShamsi's vision for e& life, as he shared on Couchonomics, reflects a broader shift in the telecom industry: the move beyond traditional services to a more integrated, user-centric model. His insights provide a peek into the future of digital services, fintech, and the rise of super apps.
In the journey towards this future, AlShamsi and his team at e& life continue to explore new avenues, like healthcare and blockchain, while remaining committed to delivering tailored, high-value services across multiple markets. It's an ambitious vision, but if their journey so far is any indication, it's one they're well-positioned to achieve.
As the digital landscape continues to evolve, so too will e& life's role in shaping that future, offering customers more than just telecom services but an opportunity to experience more of life, every day.
Learn more about open banking and open finance by checking out this exciting episode of Couchonomics with Arjun. Join us as we chat with Khalifa AlShamsi, CEO of e& life, about the future of finance. So, if you're interested in staying up to date with the latest trends in fintech and finance, be sure to listen to the latest episode of Couchonomics with Arjun today!