VEON's Kyivstar raises UAH 107 million for demining Ukraine, supporting safety and recovery through advanced technology and local equipment.
Quiver AI Summary
VEON Ltd. announced that its Ukrainian subsidiary, Kyivstar, in partnership with the Come Back Alive Foundation, has raised nearly UAH 107 million (USD 2.6 million) for the We Live Here 2.0 project, aimed at demining efforts in Ukraine, where over 140,000 square kilometers are contaminated. The campaign is supported by the Ukrainian Ministry of Economy, following a previous phase that raised over UAH 180 million (USD 4.8 million). The funds will be utilized for acquiring advanced mine clearance equipment, including Ukrainian-made robotics and drones. Kyivstar has committed UAH 50 million (USD 1.2 million) to this initiative. Ukrainian officials emphasized the need for demining for safety and rebuilding efforts, highlighting Kyivstar's broader investment in Ukraine’s telecom infrastructure and humanitarian projects. The success of the campaign showcases the resilience and spirit of the Ukrainian people and aims to significantly enhance safety in formerly occupied territories.
Potential Positives
- VEON and Kyivstar raised nearly UAH 107 million (USD 2.6 million) for the We Live Here 2.0 project, enhancing their corporate social responsibility image and commitment to supporting Ukraine.
- The project supports the demining of contaminated areas in Ukraine, addressing a critical humanitarian issue and demonstrating VEON's engagement in local community safety and welfare.
- Funds raised will equip mine clearance services with advanced Ukrainian-manufactured robotics and drones, promoting local industry and economic support during challenging times.
- Kyivstar's ongoing investments, including a commitment of USD 1 billion to Ukraine's telecom infrastructure, highlight the company's long-term strategy and dedication to the region's recovery and development.
Potential Negatives
- The press release highlights significant civilian casualties and threats from landmines in Ukraine, indicating the severe ongoing impact of conflict in the region, which could reflect negatively on VEON's operational environment.
- VEON's association with a demining initiative underscores the urgent humanitarian crisis, diverting focus from its core business successes and potentially affecting its brand image as a telecommunications leader.
- Kiystar's direct financial contributions to demining efforts reveal a heavy reliance on philanthropy in a conflict zone, which may raise concerns about the company's long-term sustainability and operational viability in Ukraine.
FAQ
What is the We Live Here 2.0 project?
The We Live Here 2.0 project aims to support demining efforts in Ukraine by raising funds for equipment and technology.
How much money has been raised for demining in Ukraine?
Nearly UAH 107 million (USD 2.6 million) has been raised for the We Live Here 2.0 project.
What technologies are being funded for demining?
The funds will purchase Ukrainian-made robotics, "Vampire" drones, vehicles, and communication tools for mine clearance services.
Who is involved in the We Live Here 2.0 initiative?
Kyivstar and the Come Back Alive Foundation jointly lead the initiative with support from Ukrainian businesses and international donors.
What impact does the project aim to achieve?
The project seeks to enhance demining capabilities, protect civilians, and facilitate safe return to de-occupied areas in Ukraine.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$VEON Hedge Fund Activity
We have seen 25 institutional investors add shares of $VEON stock to their portfolio, and 11 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- LINGOTTO INVESTMENT MANAGEMENT LLP added 159,714 shares (+2.9%) to their portfolio in Q4 2024, for an estimated $6,404,531
- HELIKON INVESTMENTS LTD added 138,149 shares (+5.0%) to their portfolio in Q4 2024, for an estimated $5,539,774
- CITIGROUP INC added 55,183 shares (+22.2%) to their portfolio in Q4 2024, for an estimated $2,212,838
- WELLINGTON MANAGEMENT GROUP LLP removed 28,068 shares (-5.0%) from their portfolio in Q4 2024, for an estimated $1,125,526
- CITADEL ADVISORS LLC added 22,213 shares (+58.4%) to their portfolio in Q3 2024, for an estimated $675,719
- TWO SIGMA INVESTMENTS, LP added 17,157 shares (+85.6%) to their portfolio in Q3 2024, for an estimated $521,915
- MONACO ASSET MANAGEMENT SAM removed 13,362 shares (-57.4%) from their portfolio in Q4 2024, for an estimated $535,816
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
Dubai and Kyiv, February 14, 2025:
VEON Ltd. (Nasdaq: VEON), a global digital operator, announces that VEON’s wholly owned digital operator in Ukraine Kyivstar, together with the Come Back Alive Foundation, has jointly raised nearly UAH 107 million (USD 2.6 million) for the We Live Here 2.0 project to support demining of Ukrainian territory. The Ministry of Economy of Ukraine provided informational support for the campaign.
Over 140,000 square kilometers of Ukraine are contaminated by landmines. In 2024, these landmines caused 608 civilian casualties, including 104 deaths, according to Statista data. Businesses and individuals in Ukraine, as well as international donors, contributed to We Live Here 2.0. These funds will be used to equip mine clearance services with Ukrainian-made robotics and “Vampire” drones for the remote detonation of mines, as well as vehicles and communications tools. The new funds are in addition to those raised in the first phase of the We Live Here project, which saw over UAH 180 million (USD 4.8 million) donated. Kyivstar’s direct contribution across both phases amounts to UAH 50 million (USD 1.2 million).
“The We Live Here 2.0 campaign provides specific systematic assistance to protect the people of Ukraine from the horrors of landmines. Ukrainian businesses, citizens, and the state have come together to clear mines with advanced technological solutions. I am grateful to everyone who donated to make Ukraine stronger and safer,”
stated
Oleksandr Komarov, Kyivstar CEO.
“Today, Ukraine is the most potentially mined country in the world: 20% of our territory must be surveyed. The government, private operators and philanthropists are actively engaged in demining to allow people to return to the de-occupied and border regions, businesses to resume operations, and farmers to sow their fields. While two years ago there was not a single demining vehicle in Ukraine, today there are more than 200 of those, and this number is increasing. As a result, the area that was cleared of explosive ordnance is expanding. I am sincerely grateful to our partners for their initiatives that make our land safer. I am especially grateful that the funds raised will be used to purchase Ukrainian-manufactured equipment, which will additionally support our economy,”
noted
Yulia Svyrydenko, First Vice Prime Minister and Minister of Economy of Ukraine.
“It is imperative that we help rebuild Ukraine and make the country safe again for its citizens. In addition to our USD 1 billion commitment to invest in rebuilding Ukraine’s telecom infrastructure, Kyivstar is leading the way through fundraising for demining, offering digital services like its Helsi digital healthcare service and its work across other humanitarian programs. The We Live Here campaign 2.0 has shown the tremendous resilience, determination and generosity of the Ukrainian people and businesses. It is a privilege for VEON and Kyivstar to support these critically important initiatives as we work together for the recovery and rebuilding of Ukraine,”
said Kaan Terzioglu, Group CEO of VEON
.
“This project is about consistency, efficiency and saving the lives of our deminers. We Live Here 2.0 is a joint initiative of Kyivstar and the Come Back Alive Foundation to provide a comprehensive ecosystem of remote demining equipment. Thanks to the accumulated funds, the deminers of four newly created companies of engineering unmanned systems of the Armed Forces of Ukraine Support will receive Ukrainian-manufactured Termit and Tarhan ground robotic systems, transport, communications, power, air support for situational awareness and remote demining by detonation, as well as maintenance workshops. The success of the project is a contribution not only to saving the lives of our military but also of civilians living in the de-occupied territories or near the front line,”
emphasized Taras Chmut, director of the Come Back Alive Foundation.
About Kyivstar
Kyivstar is Ukraine's largest communications operator, serving more than 23.3 million mobile subscribers and over 1.1 million Home Internet fixed line customers (as of September 2024). The company provides services across a wide range of mobile and fixed line technologies, including 4G, Big Data, Cloud solutions, cybersecurity, digital TV, and more. Kyivstar plans to invest USD 1 billion into the development of new telecom technologies in Ukraine over 2023-2027. Kyivstar has allocated over UAH 2 billion over the past two years to help Ukraine overcome wartime challenges, including providing support for the Armed Forces, clients and social projects. Kyivstar's is a 100%-owned subsidiary of the international telecom operator VEON Group. Kyivstar has been operating in Ukraine for 27 years and is recognized as the largest taxpayer in the communications sector, the best employer and a socially responsible company.
About VEON
VEON is a digital operator that provides converged connectivity and digital services to nearly 160 million customers. Operating across six countries that are home to more than 7% 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 and headquartered in Dubai. For more information visit:
www.veon.com
Contact Information
VEON
Hande Asik
Group Director of Communication
pr@veon.com
Julian Tanner
MHP Group
Julian.tanner@mhpgroup.com
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
