Samruk-Kazyna JSC (“the Fund”) hosted its Town Hall Meeting to sum up transformation achievements of the corporate center, as a result of which the Fund has completed the introduction of the key processes. Representatives of state bodies and the expert community, heads of portfolio companies and independent directors of the Fund’s group of companies were invited to the event.

Speaking at the Town Hall Meeting, Umirzak Shukeyev, CEO of Samruk-Kazyna JSC, announced that the Fund’s corporate center had successfully completed the task of transitioning into a commercial strategic investment holding.

Umirzak Shukeyev, CEO of Samruk-Kazyna JSC, commented:

"All the main tools were created and are actively used in the work, the structure of the Fund was substantially updated, the first significant results for 2016 are already visible. Now the main task is set before the portfolio companies, from which we expect more dynamic progress with concrete practical achievements. The Head of the Fund outlined the expectations from  portfolio companies for the current year: "You all know about goals and objectives set for this year: the introduction of single standards such as the so-called reference models, the transition to a new procurement model, the launch of an integrated planning system. There are about 130 projects and initiatives in the Fund and six national companies".

Larissa Zyamzina, Head of the Fund’s transformation project, Samruk-Kazyna JSC, noted in her speech:

“When we launched the Transformation in 2014, we were challenged to shift from the role of asset administrator to a commercial holding company with an effective portfolio management and active development of new industries. The core of the transformation is the introduction of the new Corporate Governance Code developed in accordance with OECD standards. Today, the Fund is re-building interaction with Portfolio companies focusing on value creation through representatives on the Boards of Directors and setting the Strategic KPIs.

The heads of the Fund’s portfolio companies also presented at the event. Thus, CEO of Kazpost JSC spoke about the opening of the Corporate Training Center, modernization of post offices, automation of sorting sites, as well as new promising services of the company.

Saken Sarsenov, CEO of Kazpost JSC, told at the event:

"To simplify the money transfer from one point to another, we have introduced Sim2Post system that allows users transfer funds to the Beeline cellular operator account, and then cash in at any Kazpost office." Until the end of 2017, Kazpost JSC plans to launch a number of financial products, such as its own processing center, social card, and customer verification. A social card is an innovative product equipped with an electronic chip and containing a number of accounting payment applications for Kazakhstani citizens to receive pensions, allowances, subsidies, scholarships, pay for goods, utility bills, and taxes.

Independent directors of the Fund’s group of companies also shared their views on the ongoing Transformation. 

Baron Olivier Descamps, Member of the Board of Directors, Independent Director of "Samruk-Kazyna" JSC, told in his address:

 “Working with the Fund and meeting with some CEOs or CFOs of the operating companies, and listening to the young people some of which are here. You have this notion that is not cosmetics, it is an open heart surgery. It is not a slogan or slides, it is how do we make something really happen.”