Dhiraagu

What Dhiraagu does

Dhiraagu (legal name: Dhivehi Raajjeyge Gulhun Plc) is the Maldives' first and incumbent full-service telecommunications provider, founded in 1988 and operating as a publicly listed PLC subsidiary of Bahrain-based Beyon. The company delivers mobile services (2G through 5G), fixed broadband (Limitehneh Fibre up to 1 Gbps), fixed-line telephony, device sales, digital financial services (DhiraaguPay eWallet), entertainment (Dhiraagu eZone), and smart-home solutions (Dhiraagu SmartView) across the Maldives archipelago.

Its technology stack spans a nationwide telecom infrastructure including the Maldives' first and only 5G network (coverage across Greater Male' Area, Emboodhoo Falhu Marina, Kulhudhuffushi, Hithadhoo, Thinadhoo, and Fuvahmulah), AI-powered network management via the Infovista partnership for 2G-to-5G operations, fibre-to-the-home, eSIM capability, an in-house mobile broadband (5G Turbo WiFi) portfolio, and a proprietary consumer IoT line (SmartView cameras with AI motion detection, Orange Box mesh WiFi). Distribution is executed through 10 customer service/operation centers, 49 exclusive partners, 27 wholesalers, 40 distributors, 182 agents, 8 overseas agents, and more than 3,800 retailers, supported by digital self-service via the Dhiraagu App and DhiraaguPay.

Dhiraagu's business model is anchored on subscription recurring revenue (prepaid/postpaid mobile plans MVR 50-1,500, fibre plans MVR 550-6,990, mobile broadband MVR 349-2,999), supplemented by one-time device sales (smartphones and accessories on 12-month installment plans), transaction fees from DhiraaguPay, managed services for enterprise clients, and enterprise SaaS including Cloud IaaS, Colocation, SIEM, Managed Security, and IPTV/iHTV for hospitality. The customer base spans Consumer/Personal and Business/Enterprise (primary), with secondary segments in Hospitality, Government, SME, and Tourists/Visitors — the latter served via dedicated Tourist SIMs and a Velana International Airport service point. A planned CEO succession (Ismail Rasheed retiring, Valdemar Ferradaz joining as CEO Designate effective 1 July 2026) signals a strategic inflection point under Beyon's oversight.

Name

Dhiraagu

Legal name

Dhivehi Raajjeyge Gulhun Plc

Website

https://dhiraagu.com.mv

Company type

Public

Founded year

1988

Operating status

Operating

Headcount range

251–500 employees

Short description

Dhiraagu is the Maldives' incumbent full-service telecommunications provider, delivering mobile (2G-5G), fibre broadband, fixed line, eWallet (DhiraaguPay), entertainment, and smart-home services to consumers, enterprises, hospitality, government, SME, and tourist segments across the archipelago.

Ownership category

akta.pro rank

Product category

Telecommunications Services

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)

SIC

Telephone Communications (No Radiotelephone) (4813)

akta.pro primary industry

Consumer Mobile Network Operators (Retail MNOs) (HDAIAAAA)

akta.pro secondary industry

NaaS Connectivity Services (On-Demand VPN, SD-WAN-as-a-Service, Bandwidth-on-Demand) (HDAIAIAH)

Keywords

• Mobile telecommunications services
• Fiber broadband internet
• Enterprise connectivity solutions
• Digital payment wallet
• Managed network services

Headquarters

HQ city

Male

HQ country

Maldives

HQ region

Asia

Offices11 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Infrastructure, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Mobile Services: Prepaid and postpaid mobile services including voice calls, SMS, and data packages. Prepaid plans include Credit, Super, Super Lite tiers with various data, voice, and SMS bundles. Postpaid plans include Amilla Postpaid with customizable data, voice, and social media add-ons.
2. Fixed Broadband: Limitehneh Fibre broadband plans ranging from 20Mbps to 1Gbps with unlimited data. Prices range from MVR 550 to MVR 6,990 per month.
3. Mobile Broadband: Prepaid and postpaid LTE and 5G Turbo WiFi mobile broadband plans with data packages and device捆绑
4. Device Sales: Sales of mobile devices including Samsung Galaxy S26 series, iPhone 17 series, smartwatches, and home networking equipment with outright purchase and installment options
5. Fixed Line Services: Traditional fixed telephone line services with rental charges and installation fees
6. Digital Financial Services: DhiraaguPay eWallet generating revenue through transaction fees, merchant payments, and premium wallet upgrades
7. Entertainment & Gaming: Dhiraagu eZone platform offering streaming subscriptions (LionsgatePlay, Docubay), digital vouchers (iTunes, PlayStation, PUBG, Roblox), and gaming content
8. Business Solutions: Enterprise services including connectivity solutions, networking, platform services, managed services, data center and cloud solutions, voice and collaboration, digital security and surveillance, and cyber security

Pricing tiers

Go-to-market motion3 records

Distribution channels9 records

Marketing channels6 records

Core offering

Dhiraagu is a full-service telecommunications operator in the Maldives offering mobile services (2G through 5G prepaid and postpaid plans), fixed and mobile broadband (Limitehneh Fibre, 5G Turbo WiFi, LTE), fixed-line telephony, digital financial services (DhiraaguPay eWallet), entertainment (Dhiraagu eZone), smart home (SmartView), and enterprise ICT solutions (managed WAN/LAN, cloud IaaS, colocation, cybersecurity). Revenue is generated through recurring subscriptions, device sales, enterprise managed services, and transaction fees.

Product overview

Dhiraagu operates as a full-service telecommunications provider for the Maldives, offering a unified portfolio spanning consumer mobile (prepaid and postpaid plans including Amilla Postpaid and Mamen youth brand), fixed broadband (Dhiraagu Limitehneh Fibre and Dhiraagu Fibre Broadband), mobile broadband (5G Turbo Wifi and LTE), and device sales (smartphones, smartwatches, Orange Box mesh WiFi, SmartView cameras). On the consumer side, it extends into lifestyle services including DhiraaguPay (eWallet), Dhiraagu App (account management), Dhiraagu eZone (gaming and entertainment), and Elite Club loyalty. On the business side, it provides a comprehensive suite of enterprise solutions: connectivity (Mega Access, Dedicated Internet Access, IPLC, SIP, M2M), networking (Structured Cabling, WAN, Managed LAN), platform services (iHTV, Kobaa WiFi), cloud and data center (Dhiraagu Cloud IaaS, Colocation, Webhosting), voice and collaboration (PABX, Cloud Voice, Bulk SMS), digital security (CCTV, Temperature Monitoring), and cybersecurity (Managed Security, SIEM, Firewall, Cloud UTM). Key differentiators include the Maldives' first end-to-end 5G deployment enhanced by AI-powered network management via Infovista, and a broad distribution network spanning the archipelago.

Differentiator

Problem solved

Functional benefit

Brands

• Dhiraagu Pay: Digital wallet and mobile payment service offering money transfers, merchant payments, bill splitting, and sub-wallet creation.
• Dhiraagu eZone
• Limitehneh Fibre
• Dhiraagu SmartView
• Dhiraagu Orange Box
• Dhiraagu OneNumber
• Mamen
• Amilla Postpaid
• Jehee Libunee
• Kobaa WiFi
• iHTV

Products and services

• Dhiraagu 5G Fifth-generation mobile network service offering speeds up to 10x faster than 4G with low latency across the Maldives. Covers Greater Male Area, Emboodhoo Falhu Marina, Kulhudhuffushi City, Hithadhoo (Addu City), Thinadhoo City, and Fuvahmulah City. For consumers and businesses seeking next-generation connectivity.
• Prepaid Mobile Plans

Quantifiable outcome

• Up to 10x faster network speeds with 5G technology compared to 4G
• +3 more outcomes

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability4 records

Feature5 records

Partnerships

Four partnerships are on record, tiered core and minor.

• InfovistacoreTechnology or Integration · 19 November 2025Dhiraagu partnered with Infovista to deploy AI-powered network management solutions for 2G through 5G technologies across the Maldives. This partnership aims to enhance coverage, service quality, operational efficiency, and prepare infrastructure for future 5G expansion. The deployment includes solutions for network planning, performance validation, and service assurance.
• SonyLIVminorGTM or Marketing PartnerPrepaid Super plan customers receive 1 month access to SonyLIV streaming platform as a bundled benefit with their plan subscription.
• LionsgateminorGTM or Marketing PartnerLionsgatePlay is exclusively available on Dhiraagu eZone entertainment platform, offering customers access to Lionsgate's movie and series content library.
• DocubayminorGTM or Marketing PartnerDocubay documentary streaming service available on Dhiraagu eZone platform, offering documentary content from around the world.

Scale indicators7 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Ooredoo Maldives: The direct competitor to Dhiraagu in the Maldives mobile and broadband market, operating a similar 2G-5G consumer mobile, fixed broadband, and enterprise services portfolio under the same duopoly structure.

Broad incumbents

• Ooredoo Group: Qatari-headquartered telecom group that owns Ooredoo Maldives; a broad incumbent operating mobile and digital services across multiple MENA and Asian markets, directly comparable as the parent of Dhiraagu's primary competitor.
• Axiata Group: Malaysian telecom conglomerate that controls Dialog Axiata and other regional mobile operators; comparable as a regional telecom platform with overlapping mobile, broadband, and digital financial services across emerging Asian markets.
• Batelco (Beyon): Parent group of Dhiraagu under the Beyon brand; Bahrain's incumbent telecom with mobile, fixed, enterprise ICT, and digital services, providing direct operational and governance comparability as the holding entity.
• Singtel: Southeast Asian telecom incumbent with mobile, fixed broadband, enterprise ICT, and digital services; comparable as a regional incumbent with a multi-segment telecom and digital services portfolio.
• Vodafone: Global telecom incumbent operating consumer mobile, fixed broadband, and enterprise services across multiple geographies; comparable on portfolio breadth and enterprise ICT capabilities rather than geographic overlap.

Regional players

• Dialog Axiata: Sri Lanka's largest mobile operator and broadband provider, serving a similarly sized South Asian island market with a comparable mix of consumer mobile, fixed broadband, digital payments (eZ Cash), and enterprise ICT.
• STC Bahrain: Bahrain-based telecom operator of similar scale and market position, offering mobile, fixed broadband, and enterprise services in a small GCC market; comparable to Dhiraagu on geographic and scale profile.
• Digi Telecommunications (Malaysia): Malaysian mobile operator serving an emerging Southeast Asian market with prepaid/postpaid mobile and digital services; comparable on consumer mobile-led business model and emerging-market positioning.
• Smart Communications (Philippines): Philippine mobile operator with prepaid-led mobile, fixed broadband, and enterprise services; comparable on archipelago geography, prepaid-heavy customer mix, and tourism-driven pockets of high ARPU.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Dhiraagu
• YouTubeyoutube.com/user/dhiraagu
• Facebookfacebook.com/dhiraagufans
• LinkedInlinkedin.com/company/dhiraagu
• TikToktiktok.com/@dhiraagufans

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Dhiraagu