Kuwait's Zain secures Syria mobile license, prepares $1.5B investment - Türkiye Today

Kuwait’s Zain has secured a 20‑year licence to operate a mobile network in Syria and will acquire MTN Syria’s infrastructure as it prepares for an investment of “more than $1.5 billion,” reports say. Under the arrangement, Zain will hold a 75% stake in the new local operation while Syria’s sovereign wealth fund will take the remaining 25%, setting the stage for a major rebuild of the country’s telecommunications network.

“Zain will hold a 75% stake in the local operation, while Syria's sovereign wealth fund will own the remaining 25%,” the reports stated, and indicated the deal includes acquisition of MTN Syria’s infrastructure, facilities and equipment.

Deal details and immediate actions

The agreement formalises Zain’s takeover of assets formerly operated by MTN Syria, the South African group that held a licence in Syria since 2002 but announced an exit after ending operations in 2021. As part of the transition, engineers from Zain surveyed MTN Syria’s network, inspecting cell towers, backup generators, solar power systems and other telecommunications equipment across the country.

• Licence term: 20 years.
• Zain ownership: 75% of the Syrian operation.
• Sovereign wealth fund stake: 25%.
• Planned investment: more than $1.5 billion into Syria’s telecoms sector.
• Assets acquired: MTN Syria’s infrastructure, facilities and equipment.

Zain, formally known as Mobile Telecommunications Company (MTC), was founded in Kuwait in 1983 and is described on its corporate materials as the Middle East’s first mobile operator. The group currently operates in eight markets across the Middle East and Africa and serves more than 51 million customers with mobile, data and digital services. In 2025 the company reported consolidated revenue of $7.44 billion (KD 2.3 billion), a 14% increase from the previous year and its highest annual revenue in 16 years.

Context: Syria’s telecom overhaul

The move comes amid a wider Syrian push to overhaul a telecommunications sector that suffered years of conflict, sanctions and underinvestment. Earlier in the year, the Syrian government launched an international tender for a new 20‑year mobile licence intended to replace MTN Syria and attract foreign capital as part of sector reforms.

MTN had operated in Syria since 2002 but formally agreed with Syrian authorities to end its local operations in 2021 and to transfer the licence and assets. Zain’s inspection of MTN Syria’s equipment indicates preparatory work toward relaunching services and modernising network infrastructure that has lagged behind regional peers.

Outlook

The planned capital injection of “more than $1.5 billion” signals a sizeable commitment to reconstructing Syria’s mobile network and expanding capacity for mobile and data services. With a 20‑year licence and a majority stake, Zain is positioned to lead network modernisation, though progress will depend on clearance of the asset transfer, implementation of technical upgrades and the broader political and economic environment.

If the takeover and investment proceed as outlined, customers in Syria could see accelerated replacement of ageing equipment, increased use of backup and solar systems highlighted during Zain’s surveys, and the gradual restoration of wider mobile and data connectivity across the country.