Fincraft Group head Kenges Rakishev joins Proactive's Stephen Gunnion with more details about the company following the successful IPO of Borealis Foods on NASDAQ through a combination with Fincraft's Oxus Acquisition Corp.
Fincraft, a privately-owned Kazakhstan holding company, focuses on investments both within Kazakhstan and internationally, boasting a diverse portfolio that includes mining companies such as Kaznickel, which holds large deposits of nickel and cobalt, and oil and gas production entities.
The company has also ventured into refinery trading, education by owning private schools, and financial services, including ownership of a significant financial institute and a brokerage company.
Rakishev, with a background spanning over 20 years in private business, including investments in the machinery industry, petrochemicals, and real estate, highlighted the opportunities in diverse sectors, especially given the geopolitical risks and the transitional phase of Kazakhstan's transportation system.
Kazakhstan, being rich in natural resources and the ninth largest country globally, presents significant investment opportunities in oil, gas, and minerals like nickel and cobalt, crucial for renewable energy technologies.
Fincraft is a long-term investor in Kazakhstan, with strategic interests varying based on the sector and opportunity. Rakishev said the listing of Borealis Foods, a food tech company focusing on protein-rich, healthy food products, marks a significant milestone as part of Fincraft's investment strategy. Looking forward, Rakishev is optimistic about the prospects in oil and gas, nickel, cobalt, and the broader Kazakh economy, emphasising the potential in transportation and logistics.