Kazakhstan’s monetary panorama is quickly evolving, influenced each by expertise and by the appreciable function of SMEs. These SMEs represent a outstanding 96.4% of all companies and have grow to be a big pillar of the nation’s economic system, accounting for 31.6% of GDP and using 38.6% of the workforce as of 2020. 7
The evolving monetary panorama in Kazakhstan is additional exemplified by the outstanding development of sure lending entities. One such firm that stands out is IDF Eurasia beneath the Solva model.
Solva’s deal with the SME sector is clear from its monetary efficiency. Its SME portfolio witnessed a staggering development of 102.2% in 2022, reaching €65.2 million in comparison with €32.6 million within the earlier 12 months. This development not solely strengthens the corporate’s foothold available in the market, but additionally correlates with the nationwide development of SMEs constituting an important section of the economic system.
Furthermore, IDF Eurasia’s transition in direction of turning into the primary SME-focused financial institution in Kazakhstan displays the nation’s strategic shifts in SME financing. 8
Amid these strategic shifts, technological adoptions are gaining momentum. Fueled by a youthful, tech-inclined demographic, there’s a rising development in direction of digital monetary providers. And whereas the financial challenges like inflation exist, the sturdy, resource-rich basis of the nation assures stability within the face of adversity.