Business news from Ukraine

Kyivstar wins nomination “Best Mobile Innovation in Support of Emergency or Humanitarian Situations” at annual Global Mobile Awards

Barcelona, February 29, 2024: VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator providing mobile and fixed-line services, today announced that Kyivstar, its subsidiary in Ukraine, has won the GSMA’s Global Mobile Award at the annual Global Mobile Awards (GLOMO) in the category of Best Mobile Innovation in Support of Emergencies or Humanitarian Situations for its network resilience project.
The award was presented to Kyivstar CTO Volodymyr Lutchenko at a ceremony organized as part of the Mobile World Congress (MWC24) in Barcelona. The GLOMO award recognizes Kyivstar’s hard work and exemplary performance in providing connectivity in Ukraine, its meaningful investments in its network and digital services during the war, and its overcoming of severe challenges to support Ukraine’s resilience.

In his speech, Mr. Lutchenko recognized the work of the Ukrainian telecommunications industry, noting that “This is an award not only for Kyivstar, but for all Ukrainian telecommunications operators.
VEON would like to thank all the nominees of this year’s GLOMO award, as well as the mobile industry in general, for their work aimed at solving humanitarian problems and helping communities overcome emergencies. “I am honored to receive the GLOMO award for the extraordinary work of the Kyivstar team in providing vital communications for Ukraine. Our communication and digital services are extremely important for communities, in humanitarian crises and emergencies. We are honored to be part of an industry that is committed to meeting this challenge,” added Kaan Terzioglu, CEO of VEON Group.

Kyivstar is the largest telecommunications operator in Ukraine, providing services to 24 million mobile subscribers and more than 1.1 million home Internet subscribers. As a leading operator in the Ukrainian telecom market, the company maintains over 90% network availability in the government-controlled areas of Ukraine, providing communications not only to its customers but also to the population of Ukraine as a whole.
VEON International Group owns 100% of Kyivstar. VEON and Kyivstar have committed to investing $600 million over the next three years to rebuild and restore Ukraine.

About VEON
VEON is a digital operator that provides mobile, fixed-line and digital services to nearly 160 million customers. Operating in six countries with more than 7% of the world’s population, VEON changes lives by providing technology services that empower people and drive economic growth. Headquartered in Amsterdam, VEON is listed on the NASDAQ and Euronext stock exchanges.
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About Kyivstar:
Kyivstar is Ukraine’s largest electronic communications operator, serving 24 million mobile subscribers and more than 1.1 million Home Internet subscribers as of September 2023. The company provides services using a wide range of mobile and fixed technologies, including 4G, Big Data, Cloud solutions, cybersecurity services, digital TV, etc. Kyivstar helps subscribers, society and the country to overcome the challenges of wartime. Since the beginning of the full-scale war, the company has allocated UAH 1.8 billion to support the Armed Forces, society and subscribers. Kyivstar’s sole shareholder is the international VEON Group. The Group’s shares are listed on NASDAQ (New York) and Euronext (Amsterdam). Kyivstar has been operating in Ukraine for 25 years and is recognized as the largest taxpayer in the telecom market, the best employer and a socially responsible company. For more information:,


Kyivstar invests more than ₴250 million in energy independence of Home Internet and introduces GPON

Kyivstar, Ukraine’s largest Internet provider by subscribers, continues to secure its Home Internet service in case of power outages. In 2023, the company invested more than UAH 200 million to provide uninterruptible power supplies for Home Internet. It will invest an additional UAH 50-70 million by the end of February 2024. The provider also continues to actively launch GPON Internet in different cities of Ukraine.

Kyivstar employees started connecting the Home Internet network to uninterruptible power supplies (UPS) in October 2022 and will continue to do so to provide 700 thousand subscribers with Internet access even in the event of a power outage. This modernization will allow the Home Internet network to operate in the absence of power for up to 5 hours.

In total, the service users will be provided with equipment for uninterrupted operation in 44 cities of Ukraine. In total, the provider plans to cover more than 22.3 thousand addresses where UPS will be installed. 180 specialists are involved in the process of installing, checking and testing equipment throughout Ukraine.

Kyivstar also started connecting the Internet using GPON technology at the end of 2023. In 2024, the company plans to partially modernize and replace existing technologies with GPON in some cities. This connection technology is more energy efficient.

“In the context of short- and medium-term outages, GPON can provide consumers with Internet access for longer, including because we build lines from base stations with mobile diesel generators. And as long as we have the human resources and the ability to supply fuel and components to keep the generator running at the base station, users connected via GPON technology will have the Internet signal,” commented Sergiy Sukhoruk, Head of Fixed Line Communications.

About Kyivstar

Kyivstar is Ukraine’s largest electronic communications operator, serving more than 24 million mobile subscribers and more than 1.1 million Home Internet subscribers as of September 2023. The company provides services using a wide range of mobile and fixed technologies, including 4G, Big Data, Cloud solutions, cybersecurity services, digital TV, etc. Kyivstar helps subscribers, society and the country to overcome the challenges of wartime. Since the beginning of the full-scale war, the company has allocated more than UAH 1.4 billion in aid for the humanitarian needs of the Armed Forces, society and subscribers. Kyivstar’s sole shareholder is the international VEON Group (headquartered in the Netherlands). The Group’s shares are listed on NASDAQ (New York) and Euronext (Amsterdam). Kyivstar has been operating in Ukraine for 25 years and is recognized as the largest taxpayer in the telecom market, the best employer and a socially responsible company.

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Parent company of Ukraine’s largest telecom operator Kyivstar has started implementing $600 mln in investment commitments to restore Ukraine

VEON Group, the parent company of Ukraine’s largest telecom operator Kyivstar, has started implementing $600 million in investment commitments to rebuild Ukraine, the VEON press service said on Monday.

“VEON, a global converged communications and online services provider, and its subsidiary Kyivstar, are pleased to announce that they have officially started implementing the $600 million investment commitment to rebuild Ukraine announced in June 2023,” the statement said.

The investment will be utilized over three years, from 2024 to 2026.

It is reported that Kyivstar’s capital investments in 2023 amounted to $174 million. At the same time, the volume of future investment commitments from $600 million in the three-year period can be increased to $1 billion in the five-year perspective, if market conditions allow, VEON assured.

It is noted that VEON’s investment commitments were the subject of a visit to Kyiv by a high-level delegation, including former US Secretary of State Mike Pompeo, who was recently elected as an independent member of Kyivstar’s supervisory board, for the first time since his appointment.

According to a press release, he, along with VEON co-founder Auggie Fabella and VEON Group CEO and Chairman of the Supervisory Board of Kyivstar Kaan Terzioglu, met with the Head of the Office of the President of Ukraine Andriy Yermak, US Ambassador to Ukraine Bridget Brink, and Deputy Head of Mission of the Kingdom of the Netherlands Esselien van Erten.

“I am very pleased to be back in Kyiv, now as a member of the VEON family and a member of the Supervisory Board of Kyivstar. Ukraine must win this war, both on the battlefield and economically. The private sector, especially international investors, has a crucial role to play in ensuring this victory, and I believe that all stakeholders understand and appreciate this. I am inspired by the incredible commitment of VEON and Kyivstar, as well as other private sector companies, who continue to serve Ukrainians with dedication and tenacity,” Mike Pompeo said in a statement.

For his part, Terzioğlu thanked for the support during the process of international investors’ withdrawal from Russia, which ended in October 2023, as well as for the focus on investments in Ukraine, including $600 million in commitments this year.

Kyivstar’s President Oleksandr Komarov noted that with the start of the implementation of these investment commitments, this year marks the beginning of an ambitious journey for Kyivstar.

“Thanks to the support of our parent company VEON, the leadership of the Board of Directors of Kyivstar, which has become stronger than ever thanks to Secretary Pompeo, the unwavering commitment of our team of 4,000 people and the unwavering gratitude of our 24 million customers, Kyivstar is an example of a company that is taking on the challenge of rebuilding Ukraine today, overcoming all difficulties and never losing focus,” the company’s press service quoted him as saying.

Earlier it was reported that Pompeo met with Kyivstar’s staff in Kyiv last Thursday at the invitation of the company’s management and the CEO of VEON Group.

VEON, a telecommunications holding company headquartered in Amsterdam (the Netherlands), owns 100% of Kyivstar, the largest telecommunications operator in Ukraine, which serves 24 million customers with mobile and fixed-line communications and digital services. The VEON Group operators serve 160 million customers in Pakistan, Ukraine, Bangladesh, Kazakhstan, Uzbekistan and Kyrgyzstan – six markets with more than 510 million users. VEON shares are listed on Nasdaq and Euronext Amsterdam.

Andriy Yermak held meeting with Mike Pompeo

Head of the Office of the President of Ukraine Andriy Yermak held a meeting with the recently independent member of the supervisory board of Kyivstar, former U.S. Secretary of State and ex-CIA chief Mike Pompeo, who arrived in Kiev, the press service of the Office of the Head of State said on Friday evening.

It is noted that Yermak thanked the President of the United States, both houses and parties of the United States Congress and the entire American society for the strong support of Ukraine. He also expressed hope for the continuation of US support, because it is based on common democratic values and respect for international law, which the Ukrainian people defend.

The head of the Office of the President noted the need to send a clear signal to Russia that by its aggression it cannot violate the sovereignty of independent states and determine the fate of other free nations.

Pompeo noted after joining Kyivstar’s nabsociety board that talking about its nationalization would be a step backward because Ukraine will need a huge amount of private sector investment, foreign direct investment, and support from Europe and the private sector in the United States to overcome the effects of the war.

“If property rights, including those of shareholders in the United States, are not protected and companies that benefit the Ukrainian people are not preserved, it would be a strategic mistake for Ukraine and would make rebuilding Ukraine and supporting that country in the years ahead much more difficult and expensive and capital flows much more limited,” the former U.S. secretary of state emphasized.

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What was 2023 like for Ukrainian companies – a study by Kyivstar

Ukrainian business demonstrates resilience in the face of a full-scale war and finds new tools for development. The share of companies operating at full capacity has increased, and they have stopped losing clients and customers, which indicates that business activity stabilized in 2023. More and more Ukrainian companies are finding a source of growth in entering foreign markets.
These data are published in the annual Kyivstar Business survey, which is based on a survey of business representatives of various sizes and industries.
“Kyivstar works closely with Ukrainian business, being a reliable partner and provider of innovative services. To offer relevant solutions, we are constantly researching changes in the business environment and the transformation of our partners’ behavior. The results of this survey show a trend towards increased business activity, as well as more intensive implementation of business innovations, revision of strategies and portfolio of goods and services,” comments Kostiantyn Vechir, B2B Director of Kyivstar.
The overall business situation has improved. Most of the surveyed companies (62%) are operating at full capacity, another 24% are operating with some restrictions, and 5% have closed. The reasons for the shutdown varied. One of the reasons mentioned by respondents was the mobilization of employees. However, some owners and managers managed to run their companies even from the ranks of the Armed Forces.
More and more companies are entering foreign markets. Over the year, Ukrainian business has managed to strengthen international cooperation. Thus, over the past year, the number of companies working with foreign markets increased from 4% to 17%. These are mainly representatives of IT and industrial production.
Employees are returning to their offices. Almost 50% of companies worked completely offline in 2023. The hybrid format of work remains important (32%), but is no longer as popular as before. Only 18% of companies worked entirely remotely within Ukraine, and 3% from abroad.
Companies’ profitability is low, but there is progress. 32% of surveyed companies reported an increase in profits, compared to only 20% in 2022. At the same time, 48% of businesses have reduced their profits, although in 2022 58% said this. Financial stability was maintained by 6% of companies that did not record any changes in profits.
Businesses continue to adapt their work processes. The most popular changes include redistributing employees’ responsibilities (38%), short-term planning (31%), and changing usual business processes (29%). While 30% of companies were forced to reduce staff, 14% of companies expanded their staff.
Companies are actively using new technologies to optimize their operations. The most frequently mentioned tools by business representatives include artificial intelligence, cloud services for working with documents (for example, Microsoft 365), CRM, and more.
Read more about the survey results on Kyivstar Business Hub.

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“Kyivstar” reports difficulties with voice communication and use of its app in number of cities

Kyivstar, Ukraine’s largest telecommunications operator, reported difficulties with voice communication and the use of its mobile app in a number of cities in western and southern Ukraine on Wednesday morning.

“Dear subscribers, we are aware that there are currently difficulties with voice communication and the mobile application in a number of cities in western and southern Ukraine. The company’s specialists are working to restore services. We are doing our best to fix the technical issues as soon as possible. We apologize for any inconvenience,” the company said in a post on Facebook.

Users write in the comments under the post that there is no connection in Lviv, and it is lost in Rivne and Mykolaiv, Kirovohrad and Sumy regions. At the same time, everything is working in Ternopil and Vinnytsia. A number of users also reported problems with “home internet” in Dnipro.

Earlier, Kyivstar restored high-speed mobile Internet in the Kyiv and Kharkiv subways. The company said that it plans to achieve full stabilization in the provision of services by the end of the week.

After a disruption in the early morning hours of December 12 caused by a large-scale cyberattack, Kyivstar began restoring voice services in the evening of December 13, and within a day mobile internet was back online in some regions, with the company announcing its full restoration across the country on the evening of December 15.

On December 17, Kivestar resumed providing voice services, including roaming, mobile data, Home Internet, virtual private network (VPN) services and started restoring access to M2M (Machine-to-Machine) services for business customers. Kyivstar restored access to SMS services, including international roaming, and M2M services on 18 December.