VEON - VEON's Kyivstar Named the Top International Investor in Ukraine in 2022-2023 by Forbes Ukraine | Benzinga
Amsterdam and Kyiv, 14 May 2024: VEON Ltd. (NASDAQ:VEON, Euronext Amsterdam: VEON)), a global digital operator that provides converged connectivity and online services, is pleased to share that VEON's 100%-owned subsidiary Kyivstar, has been named the top international investor in Ukraine in 2022-2023 by Forbes Ukraine.
The Forbes Ukraine rating looked at capital expenditures by private companies in Ukraine in 2022 and 2023. Kyivstar was ranked as the 5th largest private sector investor overall and the leader in the telecommunications industry, making its 100% shareholder VEON the highest-ranking international investor in Ukraine.
Kyivstar's UAH 12.3 billion in capital expenditures and investments for 2022 and 2023, (approximately USD 176 million and USD 174 million in 2022 and 2023, respectively, in the Group's reporting currency) focused on expanding its 4G coverage, ensuring network availability and energy resilience, and enabling digital services. The same focus continues in 2024.
Since February 2022, Kyivstar has installed 5,500 new base stations and upgraded more than 13 thousand base stations to 4G, meaning that today the company serves Ukraine with over 1,700 more 4G sites than before the onset of the full-scale war. Kyivstar has also expanded its 4G population coverage from 90.3% in January 2022 to 95.4% in April 2024 in line with its "LTE everywhere" project, which provides the connectivity backbone for the digitalization of Ukraine. Kyivstar's investments have helped provide connectivity to Ukrainians in newly built residential areas and in the country's bomb shelters.
VEON's Kyivstar also spent heavily on the ...