VEON Presents Digital Operator Success Story at NSR/BCG Investor Conference in New York
20 Décembre 2023 - 2:00PM
New York, 20 December 2023: VEON Ltd. (NASDAQ: VEON,
Euronext Amsterdam: VEON), a global digital operator that provides
converged connectivity and online services, recently participated
in an investor conference organized by New Street Research and
Boston Consulting Group in New York, highlighting the achievements
of its digital operator strategy.
“VEON has a tailored digital operator approach in each of its
markets, going beyond traditional telecommunications and providing
digital experiences that are locally relevant. This results
in not only the growth of our market share in our industry, but the
expansion of our overall wallet share in terms of the value
generated in adjacent verticals. We are happy to see that investors
understand and appreciate VEON’s track record of success based on
this model and the future opportunities that this transformation
brings” said Kaan Terzioglu, VEON Group CEO.
At the NSR/BCG conference, VEON provided a case in point for its
digital transformation by highlighting the journey of Jazz,
Pakistan’s largest mobile operator which has successfully evolved
its business model into being a provider of digital
experiences.
“As Pakistan's largest digital operator, our purpose is to
improve the lives and livelihoods of our people by unlocking the
power of digital and financial inclusion. A key driver of our solid
topline growth is our digital operator strategy, which is rooted in
our commitment to offering our customers exceptional services,
achieving a 29% increase in the third quarter of 2023. Our
financial services, JazzCash and Mobilink Bank, serve tens of
millions of customers, contributing to financial inclusion in the
country and addressing the increasing demand in a significantly
underserved market. As a result, our financial services are growing
at a rate that is double that of our overall business,” said Aamir
Ibrahim, CEO of Jazz, addressing the audience who joined “NSR/BCG
Future Series: The Future of Wireless, AI and Convergence.”
JazzCash has 15.8 million monthly active users as of November
and a total value of transactions roughly equivalent to 6% of
Pakistan’s overall GDP. Jazz’s sister company Mobilink Bank
serves 42 million depositors and 4 million currently active
borrowers.
In all of its six markets – Pakistan, Ukraine, Bangladesh,
Kazakhstan, Uzbekistan and Kyrgyzstan – the digital operator
strategy helped VEON achieve strong and sustained growth. The Group
has recently raised its full-year guidance for 2023 to 18%-20%
growth year-on-year in local currency for revenues and EBITDA.
Conference co-host New Street Research, which had reinstated
coverage of VEON shares on 11 October 2023, recently upgraded its
target price for VEON on the back of VEON’s upgraded full-year
guidance: https://www.newstreetresearch.com/company/veon/
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. Headquartered in Amsterdam, VEON is listed
on NASDAQ and Euronext. For more information visit:
www.veon.com
Disclaimer
This release contains “forward-looking
statements,” as the phrase is defined in 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. Forward-looking
statements are not historical facts, and include statements
relating to, among other things, VEON’s commercial offerings.
Forward-looking statements are inherently subject to risks and
uncertainties, many of which VEON cannot predict with accuracy and
some of which VEON might not anticipate. The forward-looking
statements contained in this release speak only as of the date of
this release. VEON does not undertake to publicly update, except as
required by U.S. federal securities laws, any forward-looking
statement to reflect events or circumstances after such dates or to
reflect the occurrence of unanticipated events.
VEON Hande Asik Group Director of
Communication pr@veon.com
VEON (NASDAQ:VEON)
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