Ukraine's top telco exceeds $1 billion investment goal as war drives network spending

​Ukraine's biggest mobile operator Kyivstar said ​on Wednesday it had ‌invested $1.3 billion in ​the war-ravaged country since 2023, exceeding the previously pledged$1 billion ahead of the 2027 deadline. Veon, the telecoms ‌group behind Kyivstar, had originally put forward $600 million to rebuild Ukraine's digital infrastructure between 2023 and 2027.

​Ukraine's biggest mobile operator Kyivstar said ​on Wednesday it had ‌invested $1.3 billion in ​the war-ravaged country since 2023, exceeding the previously pledged$1 billion ahead of the 2027 deadline. Veon, the telecoms ‌group behind Kyivstar, had originally put forward $600 million to rebuild Ukraine's digital infrastructure between 2023 and 2027. That figure was raised to $1 billion in 2024. Much of the spending ‌went toward keeping Ukraine's communications networks aliveduring the war with Russia, Kyivstar said ‌in a statement. Kyivstar has built nearly 1,900 new mobile base stations and upgraded around 13,200 existing ones, reaching 95% of the population in the Ukrainian-controlled territory with 4G coverage. It also began rolling out ⁠5G ​in the country, ⁠with a first successful test in Lviv in January. The company, which provides telecoms, entertainment and digital healthcare ⁠services, also invested in backup power systems as outages caused by Russian missile and ​drone attacks became a regular occurrence. A partnership with Starlink brought satellite-based mobile connectivity to ⁠5 million users by March 2026, a lifeline in frontline regions where ground infrastructure has been ⁠destroyed or ​damaged. The mobile operator also acquired Uklon, a Ukrainian ride-hailing and delivery app, Tabletki, a local platform to order medicine, and SUNVIN 11, a solar ⁠energy company adding 12.9 megawatts of capacity to the national grid. Kyivstar is the only ⁠Ukrainian company listed ⁠on a U.S. stock market exchange. Dubai-based Veon retains at least 80% of Kyivstar's shares after its landmark New York listing ‌last year.