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VEON and Kyivstar Fulfill Commitment to Invest USD 1 Billion in Ukraine over 2023-2027 Ahead of Schedule

Written by Customer Service on . Posted in Public Companies.

Dubai, Kyiv and New York, April 29, 2026: VEON Ltd. (Nasdaq: VEON), a global digital operator and the parent company of Ukraine’s leading digital operator Kyivstar Group Ltd. (Nasdaq: KYIV; KYIVW), today announced that VEON and Kyivstar have fulfilled their 2023-2027 investment commitment to Ukraine ahead of schedule, exceeding the companies’ USD 1 billion investment commitment by 30%.

Kyivstar’s investments have focused on safeguarding and expanding Ukraine’s connectivity backbone while enhancing resilience amid ongoing military conflict. These investments included the continued expansion and modernization of mobile coverage, the introduction of Starlink Mobile direct-to-device satellite connectivity, the accelerated deployment of high‑speed fixed-line connectivity through Kyivstar’s network and significant investments in backup power and energy‑resilience solutions to maintain service continuity during disruptions.  

In parallel, Kyivstar deployed capital to expand its digital ecosystem through strategic acquisitions. This included the acquisition of Uklon, Ukraine’s leading ride‑hailing and delivery platform; Tabletki.ua, one of the country’s most widely used digital healthcare platforms for finding, comparing and reserving medicines nationwide; and SUNVIN 11, a solar power company representing Kyivstar’s first investment in renewable energy and a strategic step toward greater energy resilience. Together, these assets strengthen Kyivstar’s position as a multi‑service digital operator while supporting Ukraine’s broader digital and energy transformation.

“Completing this program early and above target underscores VEON’s and Kyivstar’s long‑term conviction in Ukraine and in the resilience of its people,” said Kaan Terzioğlu, Chief Executive Officer of VEON. “From the outset, the commitment was about action, not symbolism. At a time of extraordinary challenge, Kyivstar has remained a key element of Ukraine’s digital infrastructure while also investing in the technologies and services that will support the country’s future recovery and growth. We are proud to have met our USD 1 billion investment commitment ahead of schedule and exceeded the initial amount, demonstrating that businesses in Ukraine can continue to deploy long‑term, responsible capital.”

“Keeping Ukrainians connected during wartime while continuing to build for the future is our core mission,” said Oleksandr Komarov, CEO of Kyivstar. “We have invested in the network, energy resilience and digital platforms that serve millions of people and businesses every day. Delivering USD 1.3 billion in investments for our nation reflects the dedication of our teams and our confidence in Ukraine’s digital future.”

VEON and Kyivstar invested a total of USD 1.3 billion between 2023 and April 2026, representing 130% of the companies’ USD 1 billion investment commitment for the 2023-2027 period. The companies initially announced a three-year, USD 600 million commitment in 2023 and subsequently broadened that into a five‑year, USD 1 billion program spanning connectivity, digital services, energy resilience, strategic acquisitions and social contributions.

About VEON
VEON is a digital operator that provides connectivity and digital services to over 150 million connectivity and more than 205 million digital users. Operating across five countries that are home to more than 6% of the world’s population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. VEON is listed on Nasdaq. For more information, visit: https://www.veon.com.

About Kyivstar Group Ltd.
Kyivstar Group Ltd. (“Kyivstar”) is a Nasdaq-listed holding company that operates JSC Kyivstar, Ukraine’s leading digital operator and the first Ukrainian company to list on a U.S. stock exchange. Kyivstar’s companies provide a broad range of connectivity and digital services, including mobile and fixed-line voice and data, ride-hailing, e-health, digital TV and enterprise solutions such as Big Data, cloud and cybersecurity.

For more information, please visit https://investors.kyivstar.ua. 

Disclaimer

This press release contains “forward-looking statements,” as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, statements relating to, among other things, Kyivstar Group’s investment plans. There are numerous risks and uncertainties, many of Kyivstar cannot predict with accuracy or even anticipate and which could cause actual results and performance to differ materially from those expressed by such statements, including risks relating to Kyivstar’s investment plans, among others discussed in the section entitled “Risk Factors” included in the Kyivstar’s annual report on Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”) on March 16, 2026, as amended and supplemented from time to time, and in any other subsequent filings with the SEC by Kyivstar. Kyivstar disclaims any obligation to update or revise any forward-looking statements contained in this press release, other than to the extent required by applicable law.

Contact information

VEON
Press contact
pr@veon.com

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