Foreign media on Kazakhstan: World’s top uranium miner backs nuclear plant in referendum, Kazakhstan prepares to introduce digital currency
From recent news about Kazakhstan’s support for a nuclear plant referendum, the introduction of the new digital tenge currency, and the establishment of the CIS+ format, Kazinform News Agency offers a weekly review of Kazakhstan’s coverage in foreign media.
Bloomberg: World’s top uranium miner backs nuclear plant in referendum
Voters in Kazakhstan, the world’s largest uranium miner, backed the construction of a nuclear power plant in a referendum on Sunday, reports Bloomberg.
Kazakhstan’s central election commission said on Monday that 71% of voters cast their ballots in favor of the government plan to build a new reactor. Turnout was about 64%, well above the threshold necessary for the result to be valid, the commission said, citing preliminary calculations.
Central Asia’s largest oil producer hasn’t used nuclear generation since 1999. The country has been grappling with a power shortage partly due to growth in the energy-intensive crypto industry and emergency shutdowns at old plants. The nation is seeking to significantly expand power generation by 2035, with nuclear sources as part of the mix, according to the Energy Ministry. The ministry said an initial estimate for the cost of the nuclear power plant was about $10 billion-$12 billion.
Kazakhstan’s backing for atomic energy underscores rising global interest in stable, round-the-clock nuclear power as countries attempt to meet rapidly rising energy demands while also reducing dependence on fossil fuels to slash emissions.
China National Nuclear Corp, Korea Hydro & Nuclear Power Co., Russia’s Rosatom Corp and Electricite de France SA were on a list of possible builders, according to a presentation from the Energy Ministry.
“My personal opinion is that an international consortium, consisting of global companies with the most advanced technologies, should work in Kazakhstan,” President Kassym-Jomart Tokayev said after he cast his vote on Sunday, according to his press office.
Qatar News Agency: Lesha Bank completes acquisition of Bereke Bank in Kazakhstan
Qatar News Agency reports that Lesha Bank LLC has successfully completed the acquisition of the entire share capital of “Bereke Bank” JSC in Kazakhstan.
According to a release issued by the Bank and published on the Qatar Stock Exchange website, the share sale and purchase agreement in connection with the transaction was signed on 31 March 2024 between Lesha Bank, as purchaser, and Kazakhstan-based “Baiterek” National Management Holding JSC, as seller. The transaction completed on 8 October 2024. The agreed purchase price for the acquisition is 65 billion Kazakh Tenge, which corresponds to USD 134,899,552 based on the exchange rate at the time of completion.
Bereke Bank is a multipurpose bank, offering services to both individuals and businesses across Kazakhstan. With a BB stable financial rating and a network of 18 branches, it plays a key role in the Kazakh banking landscape.
CEO of Lesha Bank, Mohammed Ismail Al Emadi commented, “This acquisition marks a strategic step in strengthening our investment portfolio and reinforces the collaborative ties between our countries. It aligns with our long-term vision of fostering cross-border opportunities and expanding in international markets.”
The Times of Central Asia: Kazakhstan prepares to introduce digital currency
At this week’s Central Asia Fintech Summit in Almaty, the Digital National Bank of Kazakhstan presented its vision for a digital version of the country’s currency, the tenge, reports the Times of Central Asia.
The digital tenge is an electronic version of Kazakhstan’s national currency issued by the National Bank. It is designed to complement cash and non-cash forms of money by making financial services available in digital format. Digital tenge can be used for instant payments and transfers, settlements between individuals and businesses, and payment for goods and services through mobile banking applications.
This currency is particularly useful in e-commerce, government services, financial technologies, and cashless settlements. It also supports the development of smart contracts, allowing for the automation of financial transactions. The introduction of the digital tenge promotes transparency in financial transactions and improves access to financial services in remote and rural areas.
Advisor to the Chairman of the National Bank, Binur Zhalenov, said that the project is planned to be completed within five years. Some components, such as the digital tenge and a single QR in pilot mode, are already being implemented.
Full implementation of the digital tenge, including the connection of all second-tier banks, is expected by 2025. Zhalenov noted that the platform is ready and operates based on the National Payment Corporation. In the coming years, it is planned to actively connect financial organizations and expand the digital tenge’s capabilities.
Last year, Zhalenov explained that using the digital tenge will require an existing banking app for one of the project participants. Thus, users will be able to link a digital tenge account to their current payment card without the need to install additional programs.
Trend News Agency: President Tokayev proposes establishment of “CIS+” format
The Commonwealth of Independent States has gained wide international recognition as an effective regional organization, making its significant contribution to the processes of global cooperation and development, the President of Kazakhstan Kassym-Jomart Tokayev said at a limited format meeting of the CIS Heads of State Council in Moscow, reports Trend News Agency.
“The Commonwealth has a developed system of contacts and gained useful ties with various UN structures, as well as with many other international and regional organizations. The authority of the CIS in the world arena is growing.
The CIS Observer and Partner statuses were established last year, which demonstrated the openness and maturity of our Organization. To continue this institutional work, I propose to consider the establishment of the CIS+ format. This platform will become the basis for expanding regional ties of the Commonwealth,” he said.
