VEON, a global digital operator, is rapidly transforming into a leading digital services company, expanding its reach into finance, healthcare, and education in underserved markets.

With strategic initiatives like the Nasdaq listing of its subsidiary Kyivstar and advancements in AI-driven services, VEON is poised for significant long-term growth, presenting compelling opportunities for investors.

VEON's Strategic Evolution

VEON CEO Kaan Terzioglu highlighted the company's strategic shift from a traditional telecom provider to a comprehensive digital services entity.

Operating in frontier markets with young, large populations, VEON leverages low acquisition costs to unlock massive expansion potential.

The company's "1440" strategy aims to provide services around the clock, differentiating it from competitors who typically focus on minute or data-based sales.

Digital Services Expansion

• VEON is actively expanding its digital service offerings in Ukraine, Pakistan, Bangladesh, Uzbekistan, and Kazakhstan, catering to populations with limited access to essential services.
• The company's digital services, including finance, entertainment, healthcare, and education, already contribute over 16% of its total revenue, with projections to exceed 50% within three years.
• VEON is making significant strides in financial inclusion, particularly in Pakistan, where its digital financial services are used by 22 million customers, facilitating 140,000 nano-loans daily.
• The company is also developing large language models (LLMs) tailored for local languages to enhance educational and career opportunities for non-English speakers.

Navigating Risk and Rebuilding Ukraine

VEON has demonstrated strong risk management capabilities, successfully navigating geopolitical uncertainties and macroeconomic challenges.

A key strategic decision was exiting Russia to focus solely on Ukraine. This has led to a deepening of business relationships in Ukraine, culminating in the planned Nasdaq listing of its subsidiary, Kyivstar, through a SPAC merger expected in Q3 2025.

Furthermore, VEON is committed to rebuilding Ukraine's digital infrastructure with a $1 billion investment.

Despite ongoing conflict, the company has maintained a 99% network uptime, even in challenging areas.

Partnerships with Starlink are enabling direct-to-cell services, ensuring connectivity for Ukrainians regardless of infrastructure damage.

Future Connectivity with Satellite Technology

VEON is integrating satellite technology to enhance its service offerings, especially in regions with limited traditional infrastructure.

Partnerships, such as the one with Starlink, allow VEON to provide reliable connectivity in remote or disaster-affected areas, crucial for countries like Kazakhstan and those prone to natural disasters like Bangladesh and Pakistan.

Investment Outlook

VEON's transformation into a diversified digital services provider, coupled with its expansion into key emerging markets and focus on innovative technologies like AI and satellite services, positions it for sustained long-term success.

The upcoming Nasdaq listing of Kyivstar further underscores the company's strategic vision and potential for investor returns.

Sources:

• VEON Moves Forward with Kyivstar Listing on Nasdaq as KYIV
• VEON Ltd (VEON) Q2 2025 Earnings Call Highlights: Strong Revenue Growth and Strategic
• Ahead of Its Historic Listing on Nasdaq, Kyivstar Group Completes Business Combination with Cohen Circle
• Ahead of Its Historic Listing on Nasdaq, Kyivstar Group Completes Business Combination with Cohen Circle
• VEON 2Q25 Earnings Release: Direct Digital Revenues Up 57% YoY. Solid Execution, Strong Results