Home » Economy » Etisalat Group signs an agreement to acquire elGrocer to enhance its digital services portfolio

Etisalat Group signs an agreement to acquire elGrocer to enhance its digital services portfolio

The Emirates Telecommunications Group Company “Etisalat Group” signed an agreement with elGrocer Ltd, on the basis of which it will acquire 100% of elGrocer DMCC, in a step that seeks to support its digital ambitions, enrich its services and enhance its ability to meet current and future customer requirements, and maximize synergies Which would lead its portfolio of diversified and integrated services and products. This agreement comes at a time when the UAE has been ranked as one of the highest countries in the world in terms of the percentage of smart devices penetration, and is also classified as one of the most advanced countries in online shopping and e-commerce market in the Middle East and North Africa. » on elGrocer in promoting the digital economy in the country. On this occasion, Khaled El-Khouly, CEO of Consumer Sector at Etisalat, said: “E-shopping has succeeded in recent years in changing the concept of retail trade, in a clear indication of the increase in the number of customers who started to switch towards online shopping. In view of Etisalat Group’s leading role in accelerating the digital transformation in the UAE, we are constantly working to provide new and innovative digital services to our customers. Hence, this acquisition is in line with our strategy of empowering consumers, enhancing engagement through our digital shopping platform, and diversifying and integrating our business portfolio.” ElGrocer’s strong presence in the UAE will enhance Etisalat’s services available to customers in the country under the “Basmat” brand, including ordering food online, and the ability to earn and redeem points in more than 7000 outlets across the country. . For his part, Raed Hafez, CEO of elGrocer, said: “We are excited to work with Etisalat Group, in a way that gives us the opportunity to take advantage of its digital capabilities, networks and pioneering and innovative services, to accelerate our strategic expansion. We are confident that the combination of the strengths of ‘Etisalat Group’ and elGrocer will give us the full ability to seize the promising future growth opportunities.” On his part, Nader Amiri, founder and COO of elGrocer said: “We started our journey at elGrocer with the aim of providing a new and unique shopping experience to our customers in the UAE, and we are proud of our achievements so far. Today, we begin a new chapter that combines what we have built with Etisalat Group’s innovative services and strong features, as we look forward to providing customers with great experiences and benefits that meet their needs and aspirations.” In 2015, the elGrocer platform was launched to be an online grocery marketplace operating across the UAE, where major retailers and specialty stores meet on one platform with more than 500 outlets and 120,000 products. In addition, elGrocer has strategic partnerships with the most important global and local consumer goods companies, to collaborate and build innovative strategies to support and enhance its brands.”


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