ISLAMABAD – May 15, 2025: Jazz, Pakistan’s leading digital operator and a part of the VEON Group, reported a 20.3% year-on-year revenue growth in Q1 2025, driven by continued digital diversification and disciplined cost management.
During the quarter, Jazz invested PKR 9.5 billion, marking a 78.4% year-on-year increase, to expand 4G capacity and scale its digital platforms. This performance was delivered despite persistent macroeconomic and policy headwinds impacting the telecom sector.
Strong Growth in Digital Revenues and Fintech Performance
Direct digital revenues grew 49.5% YoY, contributing 27.7% to total revenue, driven by strong fintech and digital services performance and Jazz’s strategic shift to platform-based models.
- JazzCash, Pakistan’s leading fintech platform, processed a gross transaction value of PKR 10.7 trillion over the last twelve months (as of March 2025).
- The platform boasts 121,000 active agents and 340,000 active merchants, facilitating digitalization with approximately 142,000 digital loans issued daily.
- Mobilink Bank recorded 25.5% revenue growth, further strengthening Jazz’s financial services ecosystem.
Expansion of Digital Verticals
Jazz’s digital platforms saw significant user growth:
- Tamasha (Pakistan’s largest homegrown streaming platform) grew 37.6% YoY to 16.5 million MAUs, driven by exclusive cricket content.
- SIMOSA (Jazz’s Sim-Care, Lifestyle & Social app) reached 20.9 million MAUs, with its new social community attracting 1 million users in just 23 days after launch.
- FikrFree (AI-powered insurance & healthcare marketplace) surpassed 1 million MAUs and 1.8 million policies sold since its October 2024 launch.
- ROX (youth-centric digital lifestyle platform) grew to 700,000 monthly active users.
Mobile Customer Base and Financial Performance
- Jazz’s mobile customer base reached 73.4 million, with 4G users increasing 16% YoY to 53.3 million.
- Mobile ARPU rose 14.0% to PKR 328, supported by higher data usage and digital bundle uptake.
- Multiplay customers (using more than one Jazz service) grew 33.1%, now accounting for 37% of the user base.
- EBITDA grew 13.2% YoY, though margins slightly declined to 42% due to a shifting revenue mix.
CEO’s Statement on Growth and Policy Reforms
Aamir Ibrahim, CEO of Jazz, commented:
“This growth reflects our successful transformation into a ServiceCo—powered by innovation, financial discipline, and a deep commitment to digital inclusion. We’re building platforms that empower individuals, enable small businesses, and help create a more connected, resilient Pakistan. To sustain this momentum, we urgently need tax and policy reforms that recognize the strategic value of digital infrastructure and foster long-term investment.”
Advocacy for Digital Inclusion and Policy Reforms
- As Pakistan’s top taxpayer, Jazz has contributed over PKR 502 billion to the national exchequer in the past decade.
- The company continues to advocate for fiscal and regulatory reforms that enable long-term sectoral growth and digital inclusion.
- Jazz now serves over 100 million users through a diverse digital portfolio, spanning fintech, entertainment, self-care, InsurTech, cloud, and gaming, marking its shift from connectivity to capability.
