VEON and Kyivstar Deploy $1.3B in Ukraine, 30% Over 2027 Commitment
VEON and Kyivstar delivered USD 1.3 billion in Ukraine investments by April 2026, surpassing their USD 1 billion 2023-2027 commitment by 30%. Funds supported mobile network expansion, Starlink direct-to-device service, fixed-line upgrades, backup power installations and strategic acquisitions in ride-hailing, e-health and solar energy.
1. Early Investment Fulfillment
VEON and its subsidiary Kyivstar fulfilled and exceeded their USD 1 billion investment pledge for 2023-2027 ahead of schedule, investing USD 1.3 billion by April 2026, representing 130% of the original commitment.
2. Network Expansion and Resilience
Capital deployment prioritized expansion and modernization of Ukraine’s connectivity backbone, including wider mobile coverage, Starlink direct-to-device satellite connectivity, accelerated high-speed fixed-line rollouts and significant backup power and energy resilience solutions to ensure service continuity during disruptions.
3. Strategic Acquisitions
Kyivstar strengthened its digital ecosystem through acquisitions of Uklon, Ukraine’s leading ride-hailing and delivery platform; Tabletki.ua, a top digital healthcare marketplace; and SUNVIN 11, marking its entry into renewable solar energy to bolster energy resilience.
4. Strategic Implications
Exceeding the investment target underscores VEON’s long-term conviction in Ukraine’s digital transformation and resilience, positioning the operator to support post-conflict recovery while expanding its multi-service digital footprint across connectivity, services and renewable energy.