Empowering Women: Driving Kazakhstan’s Economy
The Women in Business forum held in Almaty highlighted the significant impact of women’s leadership in Kazakhstan’s economic development. The event, organized by the Council of Businesswomen of Almaty, Halyk Bank, and Mastercard, attracted over 300 women entrepreneurs, public figures, and heads of development institutions, as well as representatives from large companies and banks.
Aidan Suleimenova, President of the Ayala Charitable Foundation, emphasized the transformative role of women’s leadership in various aspects of economic and everyday life in Kazakhstan. The forum also featured Michelle Yerkin, the Consul General of the United States in Almaty, who expressed a commitment to collaborating with Kazakhstan to promote economic competitiveness and create high-quality jobs for women.
Gaukhar Buribayeva, the chairwoman of the Damu Entrepreneurship Development Fund, highlighted that nearly half of the fund’s supported projects are led by women entrepreneurs. The fund has backed 96,000 women-led entrepreneurship projects, totaling 2.8 billion tenge ($6.3 million).
Additionally, Alexandra Akkirman, senior director of public affairs, communications, and sustainability at Coca-Cola Caucasus and Central Asia, discussed a long-standing project aimed at promoting women’s businesses in rural areas of Kazakhstan. The project has contributed to introducing preferential loan rates for rural entrepreneurs and has provided free business training to over 75,000 women over 11 years.
Umut Shayakhmetova, CEO of Halyk Bank, emphasized the bank’s efforts to provide affordable lending options to entrepreneurs, with hundreds of entrepreneurs nationwide receiving preferential loans at 5% per annum since 2018. It is expected that interest rates will continue to decline in 2024, creating a conducive environment for continued lending growth.
Statistics show that women lead 43% of enterprises in Kazakhstan and contribute significantly to the small and medium-sized business sector, providing a third of its total number of jobs and about 15% of the country’s GDP.
The Women in Business forum served as a platform to celebrate the achievements of women in business and underscored the crucial role of women’s leadership in driving economic growth and prosperity in Kazakhstan.
