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Kaspi.kz has signed a share purchase agreement to acquire Rabobank A.Ş., its Turkish subsidiary, aiming to enhance its mobile services through its Super App model. The transaction, deemed non-material, awaits regulatory approvals and marks Kaspi.kz's second acquisition in Turkey in 2025.In a separate development, Kaspi.kz partnered with Alipay+ in May 2024, enabling customers to make cashless payments in China using QR codes via the Super App, facilitating transactions for Kazakhstanis traveling in the country.
Japan's GDP per capita is projected to plummet from 29th to 45th globally by 2075, with real GDP expected to grow to $4.4 trillion but drop its global ranking from fourth to 11th. Contributing factors include a declining population, low fertility rates, and limited benefits from AI advancements, necessitating urgent labor reforms to boost productivity. Meanwhile, emerging markets like India are set to rise significantly, with BRICS nations projected to surpass the US in total GDP by 2075.
Kazakhstan's largest e-commerce group, Kaspi.kz, has agreed to acquire Rabobank's Turkish subsidiary, which is a fully licensed bank in Türkiye with no borrowing or depositing clients and a single branch. The acquisition, announced on March 27, is pending regulatory approval and is considered non-material. Rabobank's Turkish operations, established in 2013, are the 40th largest lender in the Turkish banking sector, with assets of 1.9 billion Turkish Liras as of the end of 2024.
Kaspi.kz, a Kazakhstan-based financial technology company, has signed a deal to acquire Rabobank's Turkish unit. The company offers a variety of services, including online payments, e-commerce, and digital banking, catering to both retail and corporate clients through a comprehensive network of branches and ATMs.
ING Group forecasts Kazakhstan's GDP to grow by 4.5% in 2025, with quarterly estimates of 5.4%, 4.5%, and 3.5%. The economy showed a strong start in early 2025, growing 5.4% in January-February, driven by industrial production and key sectors like manufacturing and construction. In 2024, GDP growth was 4.8%, bolstered by agriculture and trade.
The Development Bank of Kazakhstan (DBK) has secured a framework agreement with Banco Santander for up to €400 million (approximately $434 million) to finance infrastructure and energy projects involving international exporters. Over the past year, DBK has borrowed around $1.96 billion, initially relying on Chinese banks before shifting to European lenders, including recent agreements with German banks and Italian institutions.
Central Asia's startup ecosystem is thriving, with Kazakhstan leading in venture investments, attracting $71m in 2024, primarily from foreign investors. Uzbekistan saw a remarkable 2.7-fold increase in investments to $17.5m, while Kyrgyzstan and Tajikistan also reported growth in their respective markets. Key sectors driving this momentum include artificial intelligence, fintech, and educational technologies, indicating a robust potential for future development and global integration.
Kazakhstan's largest publicly traded company, Kaspi.kz JSC, is set to issue its first bond to raise at least $500 million over five years, targeting international fixed-income investors. With a market capitalization of approximately $19 billion, the Almaty-based firm serves 14 million users in a country of 20 million and is focused on international expansion. Citigroup Inc. and JPMorgan Chase & Co. are acting as arrangers for the bond transaction.
BYD has officially launched its vehicles in Kazakhstan through a partnership with Astana Motors, showcasing the Han EV sedan and Song Plus models tailored for local conditions. The Han EV boasts a blade battery, 380 kW power, a 565 km WLTP range, and 120 kW fast charging, while the Song Plus offers a range of 505–602 km and advanced driving assistance features.
VEON Ltd, a UAE-based digital operator, has signed a solar power deal with Huawei in Pakistan. The company provides a range of mobile and fixed-line telecommunications services, including voice, data, and internet, under various brands such as Jazz and Beeline, across multiple countries.
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