VEON Ltd. and its Ukrainian subsidiary Kyivstar announced on April 29 2026 that they have finished their 2023‑2026 investment commitment to Ukraine, injecting a total of $1.3 billion into the country’s digital and connectivity infrastructure. The commitment, originally set at $1 billion, was exceeded by 30 % and was completed 30 days ahead of schedule.
The investment funds were deployed across several key areas: expansion and modernization of mobile coverage, the launch of Starlink Mobile direct‑to‑device satellite connectivity, accelerated deployment of high‑speed fixed‑line services, and significant capital for backup power and energy‑resilience solutions. Kyivstar’s launch of Starlink Direct to Cell in November 2025 made it the first mobile operator in Europe to offer this service, providing a critical backup for connectivity during power outages and damaged terrestrial infrastructure.
In parallel, the company acquired Uklon, Ukraine’s leading ride‑hailing and delivery platform; Tabletki.ua, a nationwide digital health marketplace; and SUNVIN 11, a solar‑power company marking Kyivstar’s first renewable‑energy investment. The Uklon acquisition was completed on April 3 2025 for $155.2 million for 97 % of shares, Tabletki.ua was closed on February 10 2026 for $160 million, and SUNVIN 11 was announced on December 16 2025 for approximately $8.24 million.
These moves reinforce Kyivstar’s position as a multi‑service digital operator and support Ukraine’s broader digital and energy transformation. "Keeping Ukrainians connected during wartime while continuing to build for the future is our core mission. 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," said Oleksandr Komarov, CEO of Kyivstar. "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. 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…" added Kaan Terzioğlu, CEO of VEON.
The investment aligns with VEON’s broader digital operator strategy, which has driven strong digital revenue growth in 2025. Kyivstar’s Nasdaq listing in August 2025 marked the first Ukrainian company to trade on the U.S. exchange, and the Starlink Direct to Cell launch further differentiates the operator in a conflict‑affected market. By investing ahead of schedule, VEON signals strong confidence in the Ukrainian market and its long‑term growth prospects, while also demonstrating its commitment to maintaining connectivity and digital services amid ongoing conflict.
Overall, the $1.3 billion commitment and the strategic acquisitions position Kyivstar as a leading digital operator, enhance network resilience, and support Ukraine’s recovery and future development. The early completion of the program underscores the company’s operational discipline and its belief in the long‑term value of Ukraine’s digital economy.
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