Foreign media on Kazakhstan: Tencent enters Kazakhstan’s fintech sector; Nuclear strategy considers four plants

Bloomberg: China’s Tencent invests in Kazakhstan fintech company Kaspi.kz

Tencent Holdings Ltd. has entered Kazakhstan’s fintech sector with the acquisition of a 3.2% stake in Kaspi.kz, valued at approximately $518 million, Bloomberg reports. The deal involved the purchase of six million American depositary receipts from Baring Fintech Venture Funds, with Morgan Stanley acting as advisor.

The transaction marks Tencent’s first investment in Kazakhstan and its second in Central Asia, following its earlier participation in a financing round for Uzbek fintech company Uzum. Alongside Tencent, other investors in the deal included fintech-focused firm Spice Expeditions and several U.S. university endowments, such as Washington University and the University of Wisconsin Foundation.

“Tencent pioneered the super app ecosystem business model, and we have long admired its ability to combine innovation at scale with disciplined execution. We are delighted to welcome Tencent as one of Kaspi.kz’s largest shareholders,” said Mikheil Lomtadze, the company’s chief executive officer and co-founder.

Kaspi.kz operates Kazakhstan’s leading financial super app, integrating payments, e-commerce, and digital services. In 2024, the company raised around $1 billion through a U.S. share sale, allowing early investor Baring to reduce its stake, while remaining a shareholder after the latest transaction.

Euronews: Central Asian leaders gather at first ever regional climate summit to discuss water crisis

The Regional Ecological Summit has opened in Astana, bringing together Central Asian leaders to advance coordinated climate action and environmental cooperation, Euronews reports. The forum, held in partnership with the United Nations, focused on water security, land degradation, and climate resilience across the region.

“At present, Central Asian countries often operate in isolation, even as these challenges call for a coordinated approach,” said Yerlik Karazhan. Water issues are high on the agenda, including the shrinking Aral Sea and declining levels of the Caspian Sea.

President Kassym-Jomart Tokayev is expected to promote the creation of a dedicated UN water agency, noting that “there is currently no specialised UN agency focused exclusively on water.”

Officials say the summit could unlock over €1.5 billion in green investments and result in a joint regional declaration on climate action.

Ener Data: Kazakhstan’s strategy consider four nuclear power plants

President Kassym-Jomart Tokayev has approved Kazakhstan’s Nuclear Industry Development Strategy through 2050, which envisages the operation of at least three nuclear power plants, with a fourth under consideration, Ener Data reports. “Given anticipated rises in electricity demand, plans for a potential fourth plant are also being assessed,” the government said.

The strategy also explores small modular reactor (SMR) technologies and the potential replacement of coal-fired plants with nuclear capacity, subject to technical and financial feasibility. It outlines plans to develop nuclear clusters, strengthen safety and waste management systems, and train a skilled workforce.

Earlier, Rosatom and China National Nuclear Corporation were selected to lead separate projects, including a plant near Ulken. Kazakhstan, the world’s largest uranium producer, aims to generate up to 50% of its electricity from nuclear and renewable sources by 2050, reducing reliance on coal.

The Times of Central Asia: Kazakhstan aims to boost IT services exports to $5 billion by 2030

According to The Times of Central Asia, Kazakhstan plans to increase its IT services exports to $5 billion by 2030, up from $1.14 billion recorded by early 2026, as it seeks to position itself as a regional hub for technology and digital talent. According to officials, exports reached $471 million in the first nine months of 2025 and surged in the final quarter, while exceeding imports of digital services by more than 2.6 times.

The growth strategy focuses on expanding the skilled workforce and attracting foreign professionals. Astana Hub plans to train 10,000 artificial intelligence specialists by 2030, while the Digital Nomad Residency program, launched in 2025, has already received over 700 applications from 30 countries, with more than 120 approvals granted.

“Human capital development is the foundation on which Kazakhstan’s growth as a digital hub is built,” said Zhaslan Madiyev. He added that attracting highly qualified professionals will bring international experience, new competencies, and stronger links to global markets.

Participants at a recent roundtable also proposed improving digital services and agreed to continue coordination through a permanent working group to better adapt policies to the needs of the IT community.

You can read last week’s digest here.