Kyivstar Emerges as a Key Investor in Ukraine's Development
VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a prominent global digital operator, proudly announces that its wholly owned subsidiary, Kyivstar, has been acknowledged as the fifth largest private sector investor in Ukraine for 2022 and 2023 by New Voice of Ukraine. This recognition, along with a similar accolade from Forbes Ukraine, underscores VEON’s significant position as the leading international investor in the nation's economic landscape.
Dedication to Ukraine's Progress
VEON's dedication to Ukraine remains strong, as Group CEO Kaan Terzioglu expressed, "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 committed a substantial investment of USD 1 billion aimed at enhancing connectivity and expanding essential digital services to bolster the nation’s resilience.
Investment Recognition and Accomplishments
The recent evaluations by New Voice of Ukraine assessed capital expenditures from private companies, placing Kyivstar as the fifth largest investor overall and the leading firm within the telecommunications sector. With impressive capital expenditures totaling UAH 13.4 billion (approximately USD 326 million), Kyivstar’s investments highlight VEON's crucial role in fostering economic stability in Ukraine.
Network Expansion and Resilience
Kyivstar’s strategic investments have focused on expanding its 4G network, ensuring strong network availability and improving 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 has enabled 4G access for over 4,000 communities, enhancing coverage across Ukraine to an impressive 95.5%.
Energy Efficiency Projects
Additionally, Kyivstar has invested over UAH 1.4 billion to strengthen the energy reliability of its network. This initiative is vital for maintaining connectivity amid ongoing challenges from attacks on power infrastructure. The company has initiated a second phase of energy resilience investments to ensure uninterrupted service for its subscribers.
Investing in a Digital Future
Beyond telecommunications, Kyivstar is heavily investing in digital innovation. The acquisition of a controlling stake in Helsi, Ukraine's leading digital healthcare platform, showcases this commitment. Helsi now serves 28 million registered users and has 2.8 million active monthly users, making it a key element of Kyivstar's digital strategy and further emphasizing its support for advancements in healthcare.
Community Engagement and Corporate Social Responsibility
Kyivstar is committed to its community, having contributed UAH 1.8 billion since 2022 to various social initiatives. These efforts include essential donations to charities, local communities, hospitals, and providing free internet connections to bomb shelters and modular homes for internally displaced persons. Moreover, it supported the Ukrainian Government's reconstruction program with a donation of UAH 300 million to “United 24.”
About Kyivstar and VEON
As Ukraine's largest telecommunications operator, Kyivstar serves 24 million mobile customers and over 1.1 million home internet subscribers. Despite challenging circumstances, Kyivstar has maintained network availability above 90%, ensuring reliable connectivity for the broader population. VEON, headquartered in Amsterdam and listed on NASDAQ and Euronext, empowers nearly 160 million customers across six countries through transformative technology-driven services that promote 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.
