This sizable investment plan spans a three-year period from 2024-2026 and was the focus of a visit last week by a high-level delegation to Kyiv including former US Secretary of State Michael R. Pompeo following his joining Kyivstar as a board member in November 2023.
“In the first days of the war, we at Veon made a decision and chose to serve Ukraine,” added Kaan Terzioglu, CEO of Veon Group.
“I would like to thank our international investors for supporting us through our exit from Russia, which we completed in October 2023, and our continued focus on investing in Ukraine, including the US$600 million commitment which we are setting in motion starting with this year. Veon and Kyivstar will be a part of Ukraine’s future, and we will continue to workday and night to make the future victorious, successful and inspiring.”
The news follows the company’s Invest in Ukraine, NOW! campaign that was launched in October 2023, which invited all international and national stakeholders to invest in Ukraine to support the country’s reconstruction efforts.
Since then, Veon and Kyivstar have also co-hosted B2U: Business to Ukraine, a business and investment forum in Kyiv that saw more than 100 representatives from Ukraine’s leading businesses discuss ways to improve the investment climate in the country and support the flow of international business to Ukraine.
“I am excited to be back in Kyiv, now as part of the Veon family in my role on the board of directors of Kyivstar. Ukraine must win this war, both on the battlefield and economically,” said Pompeo.
“The private sector, especially international investors, has a crucial role to play to ensure this victory, which I believe is understood and appreciated by all stakeholders. I am inspired to see the incredible dedication of Veon and Kyivstar, and of the other private sector companies that continue to serve Ukrainians with commitment and perseverance.”
In related news, only last month Veon completed its previously announced US$ 100 million deal for and Summit Towers’ Bangladesh towers portfolio.
“This year marks the beginning of an ambitious journey for Kyivstar, as we launch the investments within the scope of our three-year commitment to invest US$600 million, said Oleksandr Komarov, CEO of Kyivstar.
“With the support of our parent company VEON, the guidance of Kyivstar Board of Directors, which is now stronger than ever with Secretary Pompeo, the unwavering dedication of our 4000-strong team, and the continued appreciation of our 24 million customers, Kyivstar is a leading example of a company that rises to the challenge of rebuilding Ukraine today – overcoming all odds and never losing the focus.”
