VEON Partners with GSMA Innovation Fund to Accelerate Digital Innovation in Pakistan and Bangladesh
MWN-AI** Summary
On March 4, 2026, VEON Ltd. announced a partnership with the GSMA's Mobile for Development Foundation, aimed at co-funding digital innovation projects in Pakistan and Bangladesh. This collaboration will support select start-ups through the GSMA Innovation Fund, as part of an initiative launched during the Mobile World Congress 2026 in Barcelona. The partnership was formalized with a Memorandum of Understanding (MoU) signed by key executives, including John Giusti of GSMA, Aamir Ibrahim of JazzWorld, and Johan Buse of Banglalink.
The partnership involves JazzWorld and Banglalink working with the GSMA Innovation Fund to finance start-ups identified as grantees in the 2026 funding rounds. Alongside financial backing, VEON companies will also provide in-kind contributions such as increased visibility and capacity-building assistance to help these projects grow.
John Giusti highlighted the important role Jazz and Banglalink play in enhancing the digital landscape in both countries. Aamir Ibrahim emphasized JazzWorld's commitment to accelerating digital innovation and supporting local entrepreneurs. Johan Buse reflected Banglalink's mission to make digital services accessible, stressing the importance of this partnership amidst Bangladesh's developmental challenges.
The GSMA Innovation Fund seeks out start-ups that leverage mobile technology for positive social, economic, and climate impacts in developing nations. Projects undergo a rigorous evaluation process before funding. VEON, with its extensive reach across five countries, aims to harness technology to drive economic growth and improve lives, serving nearly 150 million connectivity users globally.
This partnership represents a significant step towards bolstering the digital entrepreneurial ecosystem in Pakistan and Bangladesh, aligning with VEON's vision to empower individuals through technology-driven services.
MWN-AI** Analysis
VEON Ltd.'s recent partnership with the GSMA Innovation Fund promises significant opportunities for investors interested in the digital landscapes of Pakistan and Bangladesh. As VEON, a major player in telecommunications, teams up with the GSMA Foundation to co-fund projects that bolster digital innovation, the potential for growth in these emerging markets becomes increasingly clear.
Investors should consider the underlying factors supporting this initiative. VEON's operating companies, Jazz and Banglalink, already hold dominant positions in their respective markets, serving over 100 million users combined. This partnership not only enhances their corporate social responsibility but also aligns with their strategic objectives to expand their digital ecosystems. By investing in local start-ups, VEON is likely to create synergistic opportunities, driving service adoption and customer engagement.
The collaboration targets entrepreneurs focused on mobile technology that drives positive social, economic, and environmental impact. Given the increasing smartphone penetration and digital service demand in both countries, the projected trajectory for growth is favorable. The GSMA Innovation Fund’s competitive selection process for start-ups ensures that only the most innovative and viable projects receive funding, potentially resulting in scalable solutions that improve the telecom infrastructure.
Additionally, this partnership positions VEON to strengthen its brand identity as a pioneer of digital transformation. By enhancing its service offerings and building a comprehensive digital ecosystem, VEON may attract even more users and partners, boosting revenue and share value.
In conclusion, stakeholders should closely monitor this partnership as it unfolds. With a robust foundation and focus on local innovation, VEON's investment direction signals a promising growth avenue in South Asia’s rapidly evolving digital markets, making it an attractive consideration for investors aiming to capitalize on emerging technologies.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Barcelona, Dhaka and Islamabad, March 4, 2026: VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON”), today announces a partnership with the GSMA’s Mobile for Development Foundation (“GSMA Foundation”) to co-fund digital innovation projects in Pakistan and Bangladesh that are supported by the GSMA Innovation Fund.
John Guisti, Chief Regulatory Officer of the GSMA and President of the GSMA Foundation, Aamir Ibrahim, CEO of JazzWorld, and Johan Buse, CEO of Banglalink, have launched the partnership with a Memorandum of Understanding (MoU) signed in Barcelona during MWC26 Barcelona, the world’s largest and most influential connectivity event.
Under the terms of the MoU, JazzWorld and Banglalink will collaborate with the GSMA Innovation Fund to co-fund the Pakistani and Bangladeshi start-ups selected as grantees in the GSMA Innovation Fund’s 2026 funding rounds. In addition to financial support, VEON and its operating companies may also provide in-kind contributions including ecosystem visibility and capacity building support to help selected projects scale.
“Jazz and Banglalink, both part of VEON Group, play a leading role in shaping the digital landscape in Pakistan and Bangladesh. Collaborating with them will further enhance the support of the GSMA Innovation Fund for entrepreneurs driving positive social impact in these two countries” John Giusti, Chief Regulatory Officer, GSMA and President of the GSMA Foundation.
"JazzWorld has a strong track record of working with the Pakistan’s entrepreneurs to accelerate digital innovation in Pakistan. We look forward to collaborating further with the GSMA Foundation to support the next generation of entrepreneurs who are building locally-relevant digital solutions that generate growth for Pakistani communities across various service verticals," said Aamir Ibrahim, CEO, JazzWorld.
"Making digital services accessible and helping our customers, partners and ecosystem build a better life is the purpose that drives us at Banglalink. Our partnership with the GSMA Innovation Fund allows us to extend this mission further to Bangladeshi entrepreneurs at time when Bangladesh is rebuilding the foundations of its growth - and we look forward to the opportunity," said Johan Buse, CEO, Banglalink.
The GSMA Innovation Fund (the “Fund”) identifies and supports start-ups with models that drive positive social, economic, and climate impact through mobile technology in developing countries. Projects are selected by the GSMA Foundation transparently and on a competitive basis through a rigorous evaluation process following publicly-announced funding rounds.
Further information on the Fund’s activities and supported projects in the current and previous funding rounds can be found on the Fund’s website: https://www.gsma.com/solutions-and-impact/connectivity-for-good/mobile-for-development/gsma-innovation-fund/
About VEON
VEON is a digital operator that provides connectivity and digital services to nearly 150 million connectivity and over 140 million digital users. Operating across five countries that are home to more than 6% of the world’s population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. VEON is listed on NASDAQ. For more information, visit: https://www.veon.com.
About JazzWorld:
JazzWorld is Pakistan’s leading integrated digital ServiceCo, serving over 100 million users through a portfolio spanning connectivity (Jazz), fintech (JazzCash), entertainment (Tamasha), ultra-app (SIMOSA), insurtech (FikrFree), enterprise cloud solutions (Garaj), gaming (GameNow), health-tech (Apna Clinic), fashion marketplace (Zarr), and more. This evolution reflects Jazz’s strategic shift from connectivity to capability, enabling platforms that ensure a better life for all through the power of technology. For more information, visit: www.jazz.com.pk
About Banglalink:
Banglalink is one of the leading digital communications service providers in Bangladesh, working to unlock new opportunities for its customers as they navigate the digital world. Driven by the vision of transforming lives through technology, Banglalink also strives to transform into a future-ready service provider capable of catering to the demands of the new digital era. For more information, visit: www.banglalink.net.
About GSMA:
The GSMA is a global organisation unifying the mobile ecosystem to discover, develop and deliver innovation foundational to positive business environments and societal change. Our vision is to unlock the full power of connectivity so that people, industry, and society thrive. Representing mobile operators and organisations across the mobile ecosystem and adjacent industries, the GSMA delivers for its members across three broad pillars: Connectivity for Good, Industry Services and Solutions, and Outreach. This activity includes advancing policy, tackling today’s biggest societal challenges, underpinning the technology and interoperability that make mobile work, and providing the world’s largest platform to convene the mobile ecosystem at the MWC and M360 series of events.
We invite you to find out more at gsma.com
Forward-looking statements:
This release contains “forward-looking statements”, within the meaning of the Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, statements relating to execution of the binding agreements between the parties and the successful selection of initiatives from Pakistan and Bangladesh for the Innovation Fund’s upcoming funding rounds – VEON legal to comment. There are numerous risks, uncertainties that could cause actual results and performance to differ materially from those expressed by such statements, including risks discussed in the section entitled “Risk Factors” in VEON’s 2024 Form 20-F filed with the SEC on April 25, 2025 and other public filings made by VEON with the SEC. The forward-looking statements contained herein speak only as of the date of this release and VEON disclaims any obligation to update them, except as required by law.
Contact Information
GSMA Press Office
pressoffice@gsma.com
VEON
Hande Asik
Chief Strategy and Communications Officer
pr@veon.com
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FAQ**
How might the partnership between VEON Ltd. VEON and the GSMA Foundation influence the digital landscape and innovation ecosystem in Pakistan and Bangladesh?
What specific roles will JazzWorld and Banglalink play in the co-funding and support of selected start-ups under the GSMA Innovation Fund, as announced by VEON Ltd. VEON?
In what ways do VEON Ltd. VEON's in-kind contributions enhance the capacity of start-ups selected by the GSMA Innovation Fund to develop impactful digital solutions?
How does the collaboration between VEON Ltd. VEON and the GSMA Innovation Fund align with the broader goals of advancing connectivity and economic growth in developing countries?
**MWN-AI FAQ is based on asking OpenAI questions about VEON Ltd. (NASDAQ: VEON).
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