Kenes Rakishev is a prominent entrepreneur, investor & philanthropist with interests in mining, high tech and innovative technologies.

Kenes Rakishev’s thoughts about Electric Vehicle

Companies along the EV supply chain need further support and investment, if we are to solve EV issues and encourage faster uptake, Kenes Rakishev says.

Although the pandemic has caused demand for the Electric Vehicle to fall, the outlook for EVs looks bright: with enhanced globalisation pushing the industry’s growth, government subsidy packages, and more EV investment, the rising valuations are deserved. The EV industry is providing a solution to the most pressing concerns of our time, including climate change, and unemployment caused by the pandemic.

Kenes Rakishev:

European governments are leading the way in recovery initiatives for the EV sector, from manufacturing to sales. This has led to some fantastic opportunities. Investors are seeing favourable returns; the international community is on the way to achieving climate change goals; the EV industry is benefitting from more funding; individuals are finding employment in a fantastic field of work during a general economic downturn.

Who is Kenes Rakishev?

Kenes (Kenges) Rakishev is a prominent investor and entrepreneur regarded as one of the most influential businessmen in Kazakhstan. Kenes Rakishev has business interests spanning technology, oil & gas, finance, shipbuilding, and metals & mining industries, and serves as Chairman of the Board of Directors of several industry leaders including Kazakhstan Petrochemical Industries, SAT & Company, Net Element and Vyborg Shipyard.

Kenes Rakishev is also Chairman and Co-Founder of Sirin Labs, which has developed the world’s first blockchain smart phone Finney, and Managing Partner at Singulariteam-1 and Singulariteam-2 venture capital funds that focus on innovative tech companies.

Source: Talk-Finance

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When Kenes Rakishev embarked on the establishment of Oxus SPAC, a specialized entity aimed at acquiring and subsequently taking companies public on the American stock market, experts were filled with anticipation and conjecture regarding his targeted investments. Renowned for his diverse interests spanning robotics, battery technologies, communications, and groundbreaking concepts, Kenes Rakishev’s decision left everyone startled, as he delved into an exceedingly unforeseen realm: the food sector.

Kenes Rakishev, star investor, international entrepreneur, philanthropist and former special envoy of the Kazakhstan government, meets star chef, Gordon Ramsay and star manufacturer, Borealis Foods to change the international food market.

Kenes Rakishev executed a remarkable manoeuvrer by orchestrating the public offering of Borealis Foods. This particular enterprise had earned acclaim for its unwavering dedication to crafting ecologically responsible and pioneering merchandise. However, Rakishev’s aspirational strategies for continued expansion did not conclude there. To propel Borealis Foods towards uncharted pinnacles, he actively pursued an alliance with none other than the globally esteemed culinary virtuoso, Gordon Ramsay.

This unforeseen partnership serves as a testament to Kenes Rakishev’s strategic foresight and his readiness to navigate unexplored domains. The integration of Gordon Ramsay’s culinary mastery into the realm of Borealis Foods holds the potential to fuse innovation, sustainability, and epicurean brilliance in manners that could potentially redefine the landscape of the food industry.

Borealis Foods, a pioneering force in food technology innovations and the creative force behind beloved brands such as Chef Woo and Ramen Express, has made waves with its latest announcement: the enlistment of Gordon Ramsay, a world-renowned Michelin-starred chef and global business titan, as a consultant and esteemed brand ambassador.

The resonance of this partnership reverberates through the industry, as Reza Soltandez, the visionary founder and CEO of Borealis, expressed his excitement, stating: “With open arms, we welcome Gordon Ramsay as a strategic collaborator and advisor, infusing his culinary mastery, strategic acumen, and worldwide renown to propel us toward our ambitions.”

Soltandez underlines how Ramsay’s involvement is set to fortify their mission of tackling the intricate challenge of ensuring accessible, wholesome, protein-enriched meals for the many individuals navigating this issue in the United States and beyond.

Amidst this culinary excitement, Kenes Rakishev, a distinguished Kazakhstani entrepreneur with a remarkable track record of investing in high-tech startups, emerges as a pivotal figure. His establishment of Oxus Acquisition Corp. marks a new epoch for Borealis Foods. By the culmination of February, the strides made by Oxus Acquisition Corp. culminated in a transformative business consolidation accord. The aftermath of this deal will see the combined entity retaining the revered title of Borealis Foods Inc. Leading the company post-transaction, a dynamic duo will emerge—Reza Soltandez, the CEO and co-founder of Borealis, along with the astute Barthélémy Helg, Chairman and co-founder.

The strategic significance of this agreement, valued at an impressive $150 million, was endorsed by both the governing bodies of Borealis and Oxus. As this conglomerate embarks on a new trajectory, the industry waits in anticipation to witness the confluence of culinary innovation, cutting-edge technology, and astute business acumen that this union is poised to deliver.

Gordon Ramsay shared his thoughts on the collaboration, remarking, “Amidst the ongoing challenges posed by escalating living costs and the global surge in food prices, the matter of food security takes on greater urgency. My conversations with Reza illuminated our shared perspective on the significance of furnishing accessible, nourishing, and delectable offerings. With a tapestry of exciting concepts already brewing, I’m eagerly anticipating the collaboration with Borealis Foods’ team, especially in enhancing their Chef Woo range in the forthcoming months.”

Chef Woo Ramen: A Journey of Nutritional Accessibility

Chef Woo Ramen, a brainchild of Borealis Foods’ subsidiary Palmetto Gourmet Foods, was conceived with the noble mission of rendering wholesome, budget-friendly, and convenient meals to those who grapple with limited nutritional access. Boasting the distinction of being the world’s inaugural plant-based ramen noodles, Chef Woo Ramen delivers a substantial 20 grams of complete protein per portion.

Borealis Foods Inc. remains steadfastly devoted to the development of exceptionally nutritious and pragmatic culinary innovations that are economically viable and ecologically responsible. This steadfast commitment resonates harmoniously with Borealis Foods’ overarching objectives, which are poised to leave a positive imprint on both human lives and the ecosystem.

This strategic alliance with Gordon Ramsay is set to empower Borealis Foods Inc. to scale unparalleled heights and amplify its production capacities, all the while retaining its position as a trailblazing purveyor of premium-grade food products.

Borealis Foods and the trailblazing Oxus Acquisition Corp. are charting their course towards becoming publicly-listed entities on Nasdaq, a milestone they anticipate achieving by the close of 2023.

Kenes Rakishev’s Involvement in Social Initiatives and Philanthropy

During the World Rapid Chess Championship in Astana back in 2012, Kenes Rakishev assumed a leadership role, and SAT & Company, under his guidance, took on the significant mantle of being the primary sponsor of the event. This endeavour marked a key moment in his commitment to community involvement.

In December 2014, he extended his influence by becoming the head of the development council for youth entrepreneurship at the National Chamber of Entrepreneurs of Kazakhstan. This strategic position allowed him to contribute to fostering the growth of young entrepreneurs in the country.

Beyond his business endeavours, Kenes Rakishev is a fervent advocate of the philanthropic foundation “Saby.” Co-founded by his spouse, Aselle Tasmagambetova, the foundation has undertaken a multifaceted approach to social betterment. Among its achievements are the provision of scholarships to gifted students within Kazakhstan, aiding over 300,000 individuals in accessing medical treatments, facilitating specially-equipped taxis for those with disabilities, and financing the construction of sports facilities, playgrounds, and gymnasiums.

Starting in 2013, the “Saby” foundation, with support from Kenes Rakishev and Vyacheslav Kim, has annually organized the “Build Your Business” competition for aspiring young entrepreneurs. The competition has proved transformative, granting financial assistance in the form of business development grants to winners. Over the initial five-year period, a total of 41 projects were awarded grants amounting to more than $1 million.

In 2017, the foundation achieved another milestone by financing the establishment of a private school named after Chokan Valikhanov in Almaty. This endeavour attracted investments surpassing 6 billion tenge, highlighting the substantial impact of Rakishev’s philanthropic vision.

In December 2018, Kenes Rakishev took on a pivotal role by assuming the position of Vice-President of the Kazakhstan Boxing Federation, overseeing international relations. Since 2019, he has held the position of President within the federation. In a remarkable achievement in 2021, the Kazakhstan women’s boxing team secured an impressive 8 out of 10 gold medals at the Asian Women’s Boxing Championship. In recognition of this triumph, Kenes Rakishev established an additional prize fund equivalent to the awards offered by AIBA, further enhancing the recognition and rewards for the champions and top performers of the championship. This move exemplified his commitment to uplifting sports and recognizing outstanding accomplishments within his country.

Source: Toinnov

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Source: Bizmedia

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Kenes Rakishev, an international entrepreneur, philanthropist and former special envoy of the Kazakhstan government, is leading the charge for an upcoming Nasdaq listing of Borealis Foods Inc.. He is included in the “Top 50 Wealthiest Businessmen of Kazakhstan” and “Top 50 Most Influential Businessmen of Kazakhstan” lists by Forbes magazine. In Forbes’ list of the wealthiest businessmen in Kazakhstan for 2021, he holds the 9th position with a capital of 950 million dollars.  

Rakishev is President of Fincraft Group and Net Element; a global publisher of online destinations and business services on a custom technology platform for internet and mobile distribution. He is also a member of the Board of Directors of Fastlane Ventures, a Moscow-based investment company that focuses on developing the Russian online business sector. Rakishev is one of the founders of Singulariteam, a series of investment funds dedicated to assist and support early-stage start-up technology companies.

When Kenes Rakishev launched Oxus SPAC – a special purpose acquisition company designed to acquire companies and take them public on the American stock market, analysts speculated on what exactly he would invest in. Kenes Rakishev is known for his broad interest in robotics, battery technologies, communications, and innovations. No one expected Rakishev to choose an extremely unusual sector and put effort and money into the food industry. Kenes Rakishev took the company Borealis Foods public. The company is famous for its environmentally friendly and trendy products, and for its further growth, Kenes Rakishev enlisted the world-class culinary star Gordon Ramsay.

Borealis Foods, a company specializing in food technology innovations, responsible for popular brands like Chef Woo and Ramen Express, has announced the addition of Gordon Ramsay, a renowned Michelin-starred chef and international businessman, as a consultant and brand ambassador.

Kenes Rakishev is leading the charge for Borealis Foods and Oxus Acquisition Corp. to be listed as public companies on Nasdaq by the end of 2023. Borealis Foods is dedicated to developing highly nutritious and functional food products that are cost-effective and environmentally sustainable, with a focus on addressing global food security issues. Partnering with Gordon Ramsay will enable Borealis Foods Inc. to reach new heights and expand production, while remaining an innovative producer of high-quality food products.

“We warmly welcome Gordon Ramsay as a strategic partner and consultant, contributing his culinary expertise, business acumen, and global recognition to help us achieve our goals,” said Reza Soltandez, the founder and CEO of Borealis. “His partnership will strengthen our mission to address the challenge of providing accessible, nutritious protein-based meals, which many people in the USA and around the world face.”

Kenes Rakishev establishes Oxus Acquisition Corp.: A new chapter for Borealis Foods

Kenes Rakishev, a successful businessman from Kazakhstan and experienced investor in high-tech startups, has founded Oxus Acquisition Corp., which made significant progress by the end of February, finalising a business consolidation agreement. The resulting merged entity will retain the name Borealis Foods Inc. It’s anticipated that after the deal’s completion, Reza Soltandez, CEO and co-founder of Borealis, along with Barthélémy Helg, Chairman and co-founder, will lead the company. The proposed deal, valued at $150 million, received approval from the boards of directors of Borealis and Oxus.

Gordon Ramsay commented on the partnership, stating, “In the current crisis of rising costs of living and global food price growth, the issue of food security becomes more pertinent than ever. After speaking with Reza, I realized we share a common vision about the importance of providing nutritious and delicious products that are affordable. I already have several exciting ideas, and I look forward to collaborating with the Borealis Foods team on their Chef Woo products in the coming months.”

Chef Woo Ramen: A mission of nutrition and affordability

Chef Woo Ramen, developed by Borealis Foods’ subsidiary Palmetto Gourmet Foods, was created to offer healthy, affordable, and convenient meals for those who lack access to proper nutrition. Chef Woo Ramen is the world’s first plant-based ramen noodles, providing 20 grams of complete protein per serving.

Borealis Foods Inc. is dedicated to developing highly nutritious and functional food products that are cost-effective and environmentally sustainable, with a focus on addressing global food security issues. This mission aligns with Borealis Foods’ goals of making a positive impact on human life and the environment.

Partnering with Gordon Ramsay will enable Borealis Foods Inc. to reach new heights and expand production, while remaining an innovative producer of high-quality food products.

Borealis Foods and Oxus Acquisition Corp. plan to be listed as public companies on Nasdaq by the end of 2023.

Kenes Rakishev career development

• 1998-1999: Advisor to the Road Safety Fund under the Ministry of Internal Affairs of the Republic of Kazakhstan.
• 2000: Manager at JSC “KazTransGas.”
• 2000-2002: Specialist, Head of Marketing Department in the Materials and Technical Supply Department at JSC “Intergas Central Asia.”
• 2002: Head of the Renewable Energy Department at JSC “KazTransGas.”
• January-October 2003: First Deputy CEO for Export at LLP “Trade House KazMunayGas.”
• 2003-2004: Deputy CEO for Marketing at JSC “KazTransGas.”
• 2004-2005: CEO of LLP “Mercury.”
• Since March 2005: Vice-President of the Trade and Industry Chamber of the Republic of Kazakhstan, a member of the Board of Directors of Vyborg Shipbuilding and Astrakhan Shipyard.
• Since November 2006: Chairman of the Board of Directors of the industrial holding SAT & Company, from September 2007 to December 2019 – Chairman of the Management Board of SAT & Co (renamed to JSC “Fincraft Resources” in 2018).
• Since November 2007: Member of the Board of Directors of JSC “Kazakhstan Petrochemical Industries.”
• 2012: Member of the Presidium of the Business Association NEP “Union “Atameken .”
• 2012: Chairman of the Presidium of the Public Association “Association of Young Entrepreneurs of Kazakhstan.”
• 2013: Member of the Youth Policy Council under the President of Kazakhstan “Zhass Kenes.”
• February 14, 2014 – March 29, 2018: Chairman of the Board of Directors of JSC “BTA Bank.”
• 2014-January 2015: Independent Director of JSC “National Company “Kazakhstan Engineering.”
• 2015-2018: Member of the Board of Directors, Chairman of the Board of Directors of JSC “Kazkommertsbank.”
• Since 2019: President of the Kazakhstan Boxing Federation.
• Since 2019: External Advisor to the Minister of Foreign Affairs.
• Since February 2021: President of Fincraft Group.

Source

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Kenes Rakishev (Keñes Hamitūly Raqyşev) aka Kenges Rakishev is an entrepreneur, philanthropist, former special envoy for Kazakhstan, head of the Kazakh boxing federation, a family man, and most importantly, a man of success. Under Kenges Rakishev’s leadership, the Kazakh female and male boxing squad leaped considerable forward and secured the top ranking in the recent boxing championship putting Kazakhstan boxing squarely in the top ranking in the world. A total of 21 medals were won by the Kazakhstan’s boxers – a tally of six gold, seven silver and eight bronze – and all were honoured at a ceremony in Almaty last November. 

The backstory of Kenges Rakishev in business and his philanthropies is a complex one and is an interesting read with the Kazakh millionaire serving the interest of Kazakhstan, when he brought a number of top criminals in Kazakhstan to justice. An Israeli spy attempted to hack his account, is now serving time for his criminal hacking activities and falsifying entire email strings with the help of an Indian company. 

The question to ask is, why the fake news that was generated with considerable expense was aimed to destroy a routine career of a successful young entrepreneur? 

The answer is found in the plots of one person, Mukhtar Ablyazov, a Kazakh businessman who is on the run. On 5 July this year, the French court order the fugitive to leave France within the next 30 days. The deadline will expire on 5 August 2023. 

More interestingly and a fact largely overlooked, where Mukhtar Ablyazov’s connection to an “assassination” of the Deputy president of the BTA Yerzhan Tatishev, initially claimed as a “hunting accident”. But the true murderer, Muratkhan Tokmadi was apprehended and he claimed that Ablyazov gave the orders to kill the bank chair. He was sentenced to more than ten years on March 16, 2018. The case was declared as a premeditated murder by the Kazakh prosecutor. The fate of Ablyazov, who operates a fake NGO in Brussels that was identified as acting on behalf of the Russian foreign intelligence service, is linked to the recent MEP bribing scandal of an Italian former parliament member and the Greek former speaker of the EU parliament. The French court has withdrawn his political asylum status after the U.S. court in New York found Ablyazov guilty on fraud and money laundering charges. 

Kenges Rakishev was born on Bastille Day, the French national day on July 14, 1979. The 44-year Kazakh millionaire is an interesting study of human success. Ultra boyishly shy, he is the poster boy of President Kassym-Jomart Tokayev’s “New Kazakhstan” vision for the future and better Kazakhstan. He received his education in the UK, married into the Kazakhstan elite clan and positioned quietly in the affairs of the state. Kenges’ wife, Aselle Tasmagambetova is the daughter of the former prime minister and holds a success story of her own. Together, the couple represents the future blueprint of a modern centrality at the crossroads of Central Asia, Europe, and Asia, and are still deeply embedded in Kazakh culture.

Kenges Rakishev is an entrepreneur, philanthropist, former special envoy for Kazakhstan, head of the Kazakh boxing federation, a family man, and most importantly, a man of success. 

Besides his fast rise to stellar fame, Kenges Rakishev has his ups and downs. Though it seems there is more ups than downs but unfortunately, he is targeted by smear campaigns by international hackers and fake news campaigns ‘journalists-for-hire’ funded by powerful crime figures. Such was the reality of his life. There were bizarre claims on his character, especially one made by one of Europe’s experienced journalists, which resulted in a public apology to the Kazakh former special envoy to US.

Looking past the many smears and attempts of insults, Kenges Rakishev is a successful businessman and tech investor in Kazakhstan, with interests in various industries, including mining, technology, and finance. Both husband and wife are actively involved in philanthropy work and generously supporting various causes and organizations in Kazakhstan and abroad.

However, Rakishev’s success and wealth have also made him a target of criticisms and scrutiny, especially in the context of Kazakhstan’s complex political and economic landscape. Some critics have accused him of benefiting financially and socially from his close ties with the Kazakh government.

Amidst the false reports, it is important to note that he and his family have not been charged or sanctioned by any U.S. or European government. Due to his tech savviness and careful business acumen, he rose to become an influential and well-connected individual in Kazakhstan. He was never involved in any illegal or unethical activities. While he may have had dinners and taken photographs with political leaders, it was all done all in a day’s work for Kenges whose aim was to do his job as appointed by the President Tokayev and the Kazakh government.

One such controversy was his so-called connection with an organized crime figure, Felix Sater. Sater has criminal history links to organized crime in New York, acted as an informer on the New York mob, the Russians and bizarrely, Osama bin Laden too protected him from jailtime. In 2019, a federal judge unsealed a 5k1 letter that outlined the extent of Felix Sater’s cooperation with law enforcement authorities. His cooperation was taken into consideration during his sentencing. Evidently, Sater’s testimonies on the mob at the U.S. House Intelligence Committee were viewed with some scepticism. In 2019, Vice ran an article that raised questions about Sater’s credibility and the accuracy of his claims. The article highlighted concerns about Sater’s criminal history, his associations with organized crime figures, and his tendency to exaggerate or fabricate his connections to influential individuals. While Sater’s credibility may be debatable, however it does not invalidate his statements and claims.

And then there’s Mukhtar Ablyazov, Rakishev’s long drawn political opponent. Once a media darling of the liberal press, his novelty has worn off. He was chairman of the board of directors at BTA Bank, where he was later found guilty of embezzlement and money laundering of the bank’s funds. Ablyazov was found guilty and convicted in the United Kingdom and in the United States, while the future for this fraudster and his associates looks dim in France. In early March 2022 a French court rejected his political claims and request for political asylum.

The U.K. Supreme court opening statement pointed out that Ablyazov executed an “elaborate attempt to conceal his assets” to avoid prosecution by the bank, at the time when the bank, BTA was nationalized. The U.K. courts frowned upon Ablyazov and his associates’ positions. The appeals by the Mukhtar Ablyazov and his associates were rejected by the U.K. Supreme court.

Mukhtar Ablyazov has since fled from U.K after a 22-month jail sentence in the UK court was handed down. Currently, he is rumoured to be in political exile in either France or Spain. On December 9, 2016, the highest French court (Conseil d’état) banned the extradition of Ablyazov to Russia and Ukraine. The U.K. court orders chose to explicitly illustrate the frauds committed by Mukhtar Ablyazov.

While Ablyazov was under investigations, the Kazakh administration executed a controlling stake holding on BTA Bank and appointed at the time a person the Kazakh state trusted. Kenges Rakishev was this man. Rakishev managed to save the company, fixed it and sold his stake. Mergers and acquisitions are his specialty after all.

“It was a national security crisis”, a person close to the matter spoke on grounds of anonymity. “Despite the western media celebrating Mukhtar Ablyazov as somewhat a hero, the truth is rather different”, she said. The criminal courts in the United Kingdom, the United States and now France has taken him into account, thus the ex-banker has limited room to move around in the European Union.

“The president looked around and when it came to the critical moment, he turned to Kenges Rakishev to save the employees, the bank and honestly, save Kazakhstan. It was a national security crisis. Rakishev has done his job and he was compensated, which is normal.” she added. “Once the job was done, he left, sold his shares and he went back to look after his family.” So Kenes saved the day. And saved the bank.

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Kenes Rakishev, entrepreneur and former special envoy for Kazakhstan and Vyacheslav Kim, both among the Top 10 richest businessmen in Kazakhstan according to Forbes, have announced their intention to create a new venture fund based on the International Financial Center in Astana.

They shared their plans at the “Build Your Own Business” grants ceremony organized by the Saby Foundation. The finalists of the competition received a total of $330,000 in grants from Rakishev and Kim to develop their projects.

The businessmen have not disclosed the fund’s business plan or whether they have been in talks with other potential investors. However, given the growing economic role of Kazakhstan in Central Asia, major global investors show interest in the new fund, which will be aimed at larger projects to help entrepreneurs to scale up.

Rakishev is a major venture investor and President of Fincraft Group, while Kim is the Chairman of the board of directors of Kaspi.kz, the largest fintech company in Kazakhstan created on the basis of the bank “Kaspi”.

Kenes Rakishev and Vyacheslav Kim announced their intention to create a new venture fund based on the International Financial Center in Astana.

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Kenes Rakishev is one of the most influential people in Kazakhstan. Kenes is also a respected advisor to the government of Kazakhstan. Both he and his wife, Aselle Tasmagambetova are involved in philanthropy work and investments in the tech sectors. Kenes distinguished himself to help develop innovative projects.

His investments included Solarin, the new handphone developed by Sirin Labs, which was founded by Rakishev and his business partners. It integrates data encryption systems for calls. Rakishev also invested in Mobli and NetElement.

This tech-savvy serial investor was born on July 14, 1979, in the city of Almaty to a working-class family. His father, Hamit Koshanovich Rakishev was a prominent statesman of Kazakhstan. Kenes is a lawyer and economist by training and studied business in Oxford and London.

Besides his interests in mining, finance and IT, Rakishev also invested in defence industry start-ups.

He is reportedly the main investor in General Robotics Ltd. General Robotics recently announced the update of combat robot systems. New technological solutions will enable effective resistance against unmanned combat aerial vehicles.

In 2019 at the annual DSEI exhibition in the United Kingdom, representatives of the company pointed out that the anti-drone system developed by General Robotics dramatically displayed a higher performance in protecting key objects.

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This is stated in an extract from the system of registers of shareholders

The share of businessman Kenes Rakishev in the Fincraft investment house decreased to 9.9%. This is stated in an extract from the system of registers of shareholders of Fincraft Investment House JSC as of March 7, 2023, posted on the website of the Kazakhstan Stock Exchange (KASE), the correspondent of the Kapital.kz business information center reports.

According to KASE, as of January 1, 2023, the share of businessman Kenes Rakishev in the company was 40%.

According to this extract of shareholders, the total number of declared ordinary shares of the company is 28,268,573 pieces. Of these, 27,595,700 ordinary shares of the company were placed. The list of shareholders who own 5% or more of the total number of outstanding shares is as follows: Mukash Iskandirov – 40% (11,038,281 ordinary shares), Kenes Rakishev – 9.9% (2,759,569 ordinary shares), Rashid Amirov – 9.9% (2,759,569 ordinary shares), Suleimenov – 9.9% (2,759,569 ordinary shares), Amankeldi – 9.9% (2,759,569 ordinary shares), Nurgaliyev – 9.9% (2,759,569 ordinary shares), Dzhunusbekov – 8.4% (2,345,634 ordinary shares).

It should be noted that in November 2022, it became known from the extract of the company’s shareholders that the share of businessman Kenes Rakishev in the Fincraft investment house was reduced from 50% to 40%.

Investment house Fincraft, according to the company’s reporting, provides services for the issue and placement of securities, financial consulting services.

On December 30, 2022, the investment house announced its decision to voluntarily waive licenses for brokerage and dealer activities with the right to maintain client accounts as a nominee and for investment portfolio management without the right to attract voluntary pension contributions.

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At the first stage, the planned capacity of the enterprise will be up to 50 thousand tons of ferrosilicon per year with a gradual increase in capacity up to 100 thousand tons.

Kenes Rakishev and Monnet Group to build a new plant in Kazakhstan.

“The implementation of the Fincraft Resources project together with Monnet Group will attract foreign investment into the economy of Kazakhstan, as well as create jobs in the city of Taraz. In accordance with the agreements reached, most of the investments in the project are provided by the Indian side, which indicates the investment attractiveness of the country’s economy and favorable conditions for foreign investors in Kazakhstan,” Kenes Rakishev, head of Fincraft Resources, explained.

In addition, the companies are discussing opportunities for cooperation in other sectors of the economy.

Monnet Group is a large diversified industrial holding with interests in mining, steel production, ferroalloy production, coal processing, energy, logistics, real estate, etc.

Kenes Rakishev, the majority shareholder of Fincraft Resources, also owns Fincraft Group LLP, which operates in seven countries around the world.

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