Kyivstar Shines as a Premier Investor in Ukraine's Growth
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Kyivstar Shines as a Premier Investor in Ukraine's Growth
VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global digital operator, proudly announces that its wholly owned subsidiary, Kyivstar, has been recognized as the fifth largest private sector investor in Ukraine for 2022 and 2023 by New Voice of Ukraine. This acknowledgment, along with a similar ranking from Forbes Ukraine, highlights VEON’s leading role as the top international investor in the country's economic landscape.
Commitment to Ukraine's Future
VEON's commitment to Ukraine is solid as Kaan Terzioglu, the Group CEO, stated, "We are proud to invest in the future of Ukraine and honored to see our efforts recognized by the country’s most prominent publications." The company has pledged a substantial USD 1 billion investment aimed at enhancing connectivity and expanding essential digital services for the nation’s resilience.
Recognized Investments and Achievements
The recent ratings by New Voice of Ukraine evaluated capital expenditures by private firms, positioning Kyivstar not only as the fifth largest investor overall but also as the leader within the telecommunications sector. With a remarkable UAH 13.4 billion in capital expenditures (approximately USD 326 million), Kyivstar’s investments signify VEON's paramount role in boosting economic stability in Ukraine.
Expansion and Network Resilience
Kyivstar’s strategic investments have primarily concentrated on expanding its 4G network, ensuring robust network availability and enhancing energy resilience. Since 2022, the company has successfully established 5,600 new 4G base stations and upgraded 15,000 existing 3G stations to 4G. This expansion effort has facilitated 4G network access for over 4,000 communities, increasing coverage in Ukraine to an impressive 95.5%.
Energy Efficiency Initiatives
Furthermore, Kyivstar has invested over UAH 1.4 billion to fortify the energy reliability of its network. This initiative is crucial for maintaining connectivity during ongoing challenges posed by attacks on power infrastructure. The company has launched a second phase of energy resilience investments to ensure uninterrupted service for its subscribers.
Investing in the Digital Future
Beyond telecommunications, Kyivstar invests heavily in digital innovation. The acquisition of a controlling interest in Helsi, Ukraine's leading digital healthcare platform, exemplifies this commitment. Now serving 28 million registered users with 2.8 million active monthly users, Helsi is a crucial aspect of Kyivstar's digital strategy, further accentuating its support for healthcare advancements.
Community Support and Corporate Social Responsibility
Kyivstar is dedicated to its community, having donated UAH 1.8 billion since 2022 to various social initiatives. These include vital contributions to charities, local communities, hospitals, and providing free internet connections to bomb shelters and modular homes created for internally displaced persons. Additionally, it supported the Ukrainian Government's reconstruction program with a donation of UAH 300 million to “United 24.”
About Kyivstar and VEON
Kyivstar, as Ukraine's largest telecommunications operator, serves 24 million mobile customers alongside over 1.1 million home internet subscribers. Throughout challenging conditions, Kyivstar has maintained network availability above 90%, ensuring reliable connectivity for the broader populace. VEON, headquartered in Amsterdam and listed on NASDAQ and Euronext, empowers nearly 160 million customers across six countries via transformative technology-driven services that stimulate economic growth.
Frequently Asked Questions
What recognition has Kyivstar recently received?
Kyivstar has been recognized as the fifth largest private sector investor in Ukraine by New Voice of Ukraine.
How much has VEON invested in Ukraine?
VEON has committed USD 1 billion in investments to enhance connectivity and digital services in Ukraine.
What kind of initiatives is Kyivstar involved in?
Kyivstar supports digital healthcare innovations, community social initiatives, and energy resilience projects.
What is the reach of Kyivstar's 4G network?
Kyivstar's 4G network now reaches approximately 95.5% of Ukrainian-controlled territory, connecting over 4,000 communities.
How does Kyivstar contribute to local communities?
Kyivstar has donated UAH 1.8 billion to support local causes, including hospitals and internet access for shelters.
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