Kassym-Jomart Tokayev was informed about the preliminary results of the work of the Sovereign Wealth Fund “Samruk-Kazyna” for 2020.
Despite the global crisis and the pandemic, the Holding has successfully coped with its function last year, the Fund’s companies managed to finish the year without large-scale staff cuts. The growth of assets of the Fund’s companies amounted to 800 billion tenge.
Akhmetzhan Yessimov said that over the past 3 years, Samruk-Kazyna has transferred 554 billion tenge to the National Fund to repay loans. The benefits from the digital transformation of the Holding companies' business processes amounted to 171 billion tenge.
The Head of State was also reported about the large-scale work being carried out to support domestic producers. Savings on purchases in 2018-2020 amounted to 410 billion tenge.
As a result of the ongoing work, Standard & Poor’s international rating agency has confirmed Samruk-Kazyna’s credit rating at BB+ / B “Stable”.
Akhmetzhan Yessimov also said that despite a significant decline in oil prices and OPEC+ restrictions, “KazMunayGas” National Company has maintained positive financial ratings. “Kazakhstan Temir Zholy” National Company” JSC for the first time in the last 6 years ended the year with a positive financial result. The market value of “KazAtomProm” National Company” JSC has been increased from 2.1 billion to $ 5.1 billion since the IPO (2018). “Samruk-Energy” JSC has moved from the “red” to the “green” zone of financial stability, while its debts has been decreased by 100 billion tenge.
Following the meeting, President Tokayev gave a number of specific instructions to Samruk-Kazyna’s CEO.
