Jazz Targets Doubling Revenue with Digital Expansion Plan

Jazz Targets Doubling Revenue with Digital Expansion Plan

Jazz, Pakistan’s largest cellular operator and digital services provider, has set an ambitious target to double its revenue within the next four years, with a significant portion coming from new digital ventures.

The company aims for a compound annual growth rate (CAGR) of 19-22 percent, with a quarter of its future revenue expected from non-telecom businesses such as its fintech platform JazzCash, Garaj cloud services, and the digital streaming service Tamasha.

Aamir Ibrahim, CEO of Jazz, shared this vision during a recent conversation with journalists. Jazz currently boasts over 71 million cellular subscribers and serves 67 million monthly active users on its digital services platforms, nearly a quarter of whom are not traditional Jazz users.

The company holds over a 45 percent revenue market share in the cellular services market, having experienced an 18.81 percent CAGR from late 2021 to the end of 2023. In the previous year, Jazz, along with Mobilink Microfinance Bank, reported revenues of PKR 313 billion.

“To realize this vision and reinvent ourselves to meet the evolving needs and lifestyles of our customers, we have adopted a conglomerate structure with a service company approach, creating strategic business units across financial services, enterprise solutions, and platforms, alongside our primary consumer connectivity business,” Aamir explained.

Pakistan offers significant digital growth opportunities with its 244 million population, 64 percent of whom are under 30. Despite this, over 100 million adults remain unbanked, and mobile broadband penetration is around 55 percent. “Closing this digital divide represents vast potential for economic growth and social progress. Jazz is strategically positioned to be a key partner in accelerating the government’s digital transformation vision,” Aamir noted, highlighting the company’s robust digital infrastructure.

Since its inception, Jazz has invested USD 10.6 billion in Pakistan, focusing on strengthening the digital ecosystem, particularly in fintech, cloud services, and digital entertainment over recent years. “From introducing SMS and prepaid connections in the early 90s to becoming the region’s largest and fastest-growing VoLTE network in 2024, Jazz has been at the forefront of innovation,” Aamir stated.

The new corporate structure aims to redefine the digital landscape by offering cutting-edge services tailored to diverse customer needs.

Addressing expansion efforts, Aamir emphasized Jazz’s focus on extending its 4G network’s reach and capacity, particularly in semi-urban and rural areas, ensuring broad access to mobile broadband. This effort is part of Jazz’s DO1440 strategy, which aims to provide digital experiences to customers every minute of the day.

Aamir also highlighted the company’s commitment to improving lives through technology, especially for women. He called for a collaborative approach with the government to ensure supportive policies, taxation, and regulations.

He urged the government to reconsider additional taxes on smartphones, telecom, and internet services. “Growth in almost every sector is driven by connectivity and digital platforms. Instead of burdening the sector, it’s imperative that we contribute to efficiency gains across the economy and empower Pakistan’s unconnected population with high-speed mobile broadband,” Aamir concluded.