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Apr 29, 2026 8:01 AM

Kyivstar and VEON Fulfill Commitment to Invest $1 Billion Investment Program in Ukraine, Exceeding Target by 30%

DUBAI, United Arab Emirates and KYIV, Ukraine and NEW YORK, April 29, 2026 (GLOBE NEWSWIRE) -- Kyivstar Group Ltd ("Kyivstar") (NASDAQ:KYIV, KYIVW)), the parent company of JSC Kyivstar, Ukraine's leading digital operator and part of VEON Group (NASDAQ:VEON), announced the completion of a multi-year investment program in Ukraine totaling $1.3 billion, exceeding its 2023-2027 investment commitment by 30 percent ahead of schedule. The investment program expanded Ukraine's telecommunications infrastructure, digital services ecosystem and energy resilience capabilities.

Kyivstar's investments been 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, introducing Starlink Mobile direct-to-device satellite connectivity, accelerated deployment of high‑speed fixed 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.

"Keeping Ukrainians connected during wartime while continuing to build ...

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