Zuma Resources Limited, listed on the Pakistan Stock Exchange under the ticker ZUMA, has signed a three-year Global Connectivity Agreement with Telna North America Inc., a United States-based telecom infrastructure provider, in a deal that marks a significant strategic pivot for the company toward international digital connectivity and eSIM services. The agreement was disclosed through a material disclosure filing with the Pakistan Stock Exchange, signaling the transaction’s materiality to the company’s future direction and financial prospects.
Under the agreement, Telna will provide access to its multi-IMSI global infrastructure, enabling Zuma to offer eSIM-based mobile data, voice, SMS, and international roaming services across multiple networks. The agreement allows Zuma to operate as a global telecom reseller and potentially launch its own international mobile brand. The company also gains the flexibility to integrate third-party service providers and adopt a multi-supplier operating model, signaling an asset-light approach to telecom expansion.
Zuma described the deal as a key milestone in its transformation into a technology and telecom-enabled platform, positioning itself to tap into the fast-growing global eSIM and digital connectivity market. The company expects the partnership to support scalable, usage-based revenue streams while expanding its footprint across Europe, the United Kingdom, and other international markets. The asset-light model is a deliberate strategic choice that allows Zuma to enter and scale in international telecom markets without the capital-intensive burden of building its own network infrastructure, instead leveraging Telna’s existing multi-IMSI platform to reach customers across a wide range of geographies and networks from day one.
As part of its longer-term strategy, Zuma is also evaluating the possibility of applying for a Mobile Virtual Network Operator license from Pakistan Telecommunication Authority, though it noted that regulatory approval remains uncertain. The agreement comes as listed companies increasingly pivot toward technology-led business models to capture recurring revenue opportunities in global digital infrastructure markets. The global eSIM market has been expanding rapidly as device manufacturers, enterprises, and consumers shift away from physical SIM cards toward embedded, remotely programmable connectivity solutions, a transition that has created new commercial opportunities for agile, asset-light operators willing to build on top of established global infrastructure rather than competing to own it.
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