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Samruk-Kazyna JSC has developed a new Development Strategy

Samruk-Kazyna JSC adopted a new Development Strategy for 2018-2028 and updated the Transformation Program. The document was developed taking into account the experience of leading sovereign wealth funds such as Temasek (Singapore), Khazanah (Malaysia) and Mubadala (United Arab Emirates), whose operating and investment activities are fully focused on commercial focus.

Thus, the main priority of the Fund will be to increase the national prosperity through increasing the profitability of portfolio companies.

In the new Strategy, Samruk-Kazyna JSC has identified three key goals: increasing the efficiency of companies, effective management of the Samruk-Kazyna portfolio (assets) and sustainable development. Achievement of these goals will be realized through 4 strategic initiatives:

The first is to increase the profitability of companies by strengthening the financial stability of companies, implementing the Transformation Program and identifying potential through digitalization, optimization of business and organizational structure;

The second is optimization of the portfolio structure. Within the framework of this direction, it is planned to complete the Privatization Program, revise the portfolio of investment projects and attract strategic partners with an exit from non-strategic assets;

Third - diversification of income aimed at the development of private capital through effective co-investment with Kazakhstani business and foreign partners;

The fourth is corporate governance and sustainable development.

The implementation of these goals will allow introducing a new structure of the Fund, strengthening financial stability, increasing investment attractiveness, ensuring effective cash management and asset growth. For the qualitative fulfillment of these tasks, the Fund's portfolio of assets will be restructured.

Today, the assets of the Fund represent a complex 5-6-tier structure, including 332 companies, which significantly complicates management. In accordance with the Comprehensive Privatization Plan, 51 companies will be removed from the structure of the Fund. In order to reinvest the proceeds, it is planned to withdraw from participation in the assets of 102 companies, which are non-core.

Thus, the structure of the Fund will be reduced from 332 to 179 companies and will consist of 3 management levels. That is, as a result of the adoption of the above measures, the management structure of the Samruk-Kazyna Fund will become more mobile.

The new Strategy states that strategic oversight of the international investment portfolio will be carried out by the Fund's Management Board. The benefits of these investments will be to reduce concentration in the economy, prevent the outflow of local investors, strengthen our presence at the international level and benefit from new technologies and knowledge.

According to the new Strategy, social investments will be directed only to the creation of human capital, education and innovation on the example of Temasek and Khazanah.

Let us remind you that yesterday, April 19 of this year, at a meeting of the Management Council of the NWF “Samruk-Kazyna”, the President of the Republic of Kazakhstan Nursultan Nazarbayev approved and adopted a new Strategy for the development of the Fund for 2018-2028 and an adjusted Transformation Program.

In addition, the Head of State gave a positive assessment to the activities aimed at the development of the Fund.

B.U .: Please note that the term “structure of the Fund” does not mean the staffing of Samruk-Kazyna JSC, but the structure of relations between the Fund, “subsidiaries” and other companies.

Samruk-Kazyna JSC