Yahsat reports strong growth in Africa

07 March 2023

Al Yah Satellite Communications Company (Yahsat) has presented its financial results. Of the five regions where the company operates, Africa is achieving a good financial performance; income in the region increased from $8,347,000 as of 30 September 2021 to $12,374,000 as of 30 September 2022.

Africa is with the United Arab Emirates ($269,593,000) and several small markets grouped under the name ‘others’ ($905,000) the only markets in which Yahsat recorded growth. Africa contributed 3.93% of Yahsat’s total revenue which stabilized at $314,584,000, up 10.65% from the $284,294,000 recorded for the same period in 2021.

“The potential acquisition of two new satellites, Al Yah 4 and Al Yah 5, remains under study for a launch in 2026, which will ensure continuity of service well beyond the duration life of our current fleet,” said Ali Al Hashemi, group chairman and CEO of Al Yah Satellite Communications Company.

Yahsat’s financial growth in Africa is driven by growing demand for broadband connectivity. Remote areas, hitherto poorly covered by telecom networks, are increasingly expressing a need for the internet, which satellite operators are hastening to satisfy.