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Kuwaiti telecommunications company Zain has secured a 20-year license to operate a mobile phone network in Syria, paving the way for an investment of more than $1.5 billion in the country, according to the reports.
Under the agreement, Zain will hold a 75% stake in the local operation, while Syria's sovereign wealth fund will own the remaining 25%, Bloomberg and Reuters reported.
As part of the arrangement, Zain will acquire the infrastructure, facilities and equipment of MTN Syria, which operated in the country for more than two decades before exiting the market.
MTN, the South African operator that had held the license to operate in Syria since 2002, announced in March that it had reached an agreement with the Syrian government to formalize its withdrawal after ending operations in 2021.
Engineers from Zain recently surveyed MTN Syria's network, inspecting cell towers, backup generators, solar power systems, and telecommunications equipment across the country as preparations for the takeover advanced, reports suggested.
Zain's entry comes as Syria overhauls its telecommunications sector following years of war, sanctions and underinvestment that left much of the country's network outdated and in need of modernization.
Earlier this year, the Syrian government launched an international tender for a new 20-year mobile licence to replace MTN Syria and attract foreign investment as part of broader sector reforms.
Founded in Kuwait in 1983, Zain, formally known as Mobile Telecommunications Company (MTC), was the Middle East's first mobile operator. Today, it operates in eight markets across the Middle East and Africa, serving more than 51 million customers with mobile, data, and digital services, according to its website.
The company reported consolidated revenue of $7.44 billion (KD 2.3 billion) in 2025, up 14% from a year earlier and its highest annual revenue in 16 years.
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