Kazakhstan is a Central Asian country that has a rich history, culture, and natural resources. It is also home to some of the largest and most successful companies in the region, which contribute to its economic growth and development. In this article, we will look at the top 10 companies in Kazakhstan by revenue for 2023, based on the data from Zoominfo and Statista. We will also provide some background information, industry insights, and future prospects for each company.
Top 10 Companies in Kazakhstan by Revenue for 2023
1. Eurasian Resources Group
Eurasian Resources Group (ERG) is a leading metals and mining company that operates in 15 countries across four continents. It produces and sells ferroalloys, iron ore, copper, cobalt, alumina, and other commodities. ERG also invests in energy, logistics, and digital transformation projects. In 2023, ERG reported revenue of $33.1 billion, making it the largest company in Kazakhstan by a wide margin. ERG is committed to sustainability, social responsibility, and innovation. It has recently launched a green metallurgy initiative to reduce its carbon footprint and environmental impact.
2. KazMunayGas
KazMunayGas (KMG) is the national oil and gas company of Kazakhstan, which owns and operates various upstream, midstream, and downstream assets. KMG is involved in the exploration, production, refining, transportation, and marketing of hydrocarbons. KMG also participates in international projects and partnerships with major oil and gas companies. In 2023, KMG generated a revenue of $13.7 billion, making it the second-largest company in Kazakhstan. KMG is focused on enhancing its operational efficiency, diversifying its portfolio, and increasing its shareholder value.
3. Kazakhmys
Kazakhmys is a diversified mining company that produces copper, gold, silver, zinc, and other metals. Kazakhmys operates nine mines, eight concentrators, three smelters, and two refineries in Kazakhstan. Kazakhmys also has interests in power generation, rail transportation, and engineering services. In 2023, Kazakhmys earned a revenue of $10 billion, making it the third-largest company in Kazakhstan. Kazakhmys is striving to improve its productivity, quality, and safety standards. It is also pursuing growth opportunities in new markets and regions.
4. Subsidiary Bank Joint-Stock Company Home Credit and Finance Bank
Subsidiary Bank Joint-Stock Company Home Credit and Finance Bank (HCFB) is a consumer finance bank that offers loans, deposits, cards, insurance, and other products to individuals and small businesses. HCFB is a subsidiary of Home Credit Group, a global provider of consumer finance solutions. HCFB has over 300 branches and 11 million customers in Kazakhstan. In 2023, HCFB reported a revenue of $2.6 billion, making it the fourth-largest company in Kazakhstan. HCFB is dedicated to providing accessible and affordable financial services to its customers. It is also leveraging digital technologies to enhance its customer experience and operational efficiency.
5. Kaspi Bank JSC
Kaspi Bank JSC is a universal bank that offers retail banking, corporate banking, merchant acquiring, and payment services to individuals and businesses. Kaspi Bank JSC is part of Kaspi.kz, a leading fintech platform in Kazakhstan that operates an online marketplace, a mobile wallet, and a loyalty program. Kaspi Bank JSC has over 8 million customers and 150 thousand merchants in Kazakhstan. In 2023, Kaspi Bank JSC generated a revenue of $2.1 billion, making it the fifth-largest company in Kazakhstan. Kaspi Bank JSC is committed to delivering convenient and innovative financial solutions to its customers. It is also expanding its presence in neighboring countries such as Azerbaijan and Georgia.
6. Ulba
Ulba is a manufacturer of nuclear fuel components, special alloys, and beryllium products. Ulba supplies its products to nuclear power plants, aerospace, defense, and other industries around the world. Ulba has over 60 years of experience in the nuclear industry and is recognized as a reliable and responsible partner. In 2023, Ulba earned a revenue of $1.8 billion, making it the sixth-largest company in Kazakhstan. Ulba is focused on improving its quality, efficiency, and competitiveness. It is also developing new products and technologies to meet the changing needs of its customers.
7. Halyk Bank
Halyk Bank is the largest commercial bank in Kazakhstan, which offers a full range of banking services to individuals, corporations, and public sector entities. Halyk Bank has over 20 thousand employees and over 10 million customers in Kazakhstan. Halyk Bank also has subsidiaries and representative offices in Russia, Georgia, Kyrgyzstan, Tajikistan, Uzbekistan, and China. In 2023, Halyk Bank reported a revenue of $1.6 billion, making it the seventh-largest company in Kazakhstan. Halyk Bank is dedicated to providing high-quality and customer-oriented banking services. It is also investing in digital transformation and social responsibility initiatives.
8. Air Astana
Air Astana is the national flag carrier of Kazakhstan, which operates domestic and international flights to over 60 destinations in Asia, Europe, and the Middle East. Air Astana has a modern fleet of 36 aircraft, including Boeing 787 Dreamliners, Airbus A321neo, and Embraer E190-E2. Air Astana is a member of the International Air Transport Association (IATA) and has a four-star rating from Skytrax. In 2023, Air Astana generated a revenue of $1.4 billion, making it the eighth-largest company in Kazakhstan. Air Astana is committed to delivering safe, reliable, and comfortable air travel to its passengers. It is also pursuing growth opportunities in new markets and segments.
9. Kazatomprom
Kazatomprom is the national atomic company of Kazakhstan, which is the world’s largest producer and exporter of uranium. Kazatomprom operates 12 uranium mines and four processing plants in Kazakhstan. Kazatomprom also has interests in nuclear fuel cycle services, renewable energy, and rare earth metals. In 2023, Kazatomprom earned a revenue of $1.2 billion, making it the ninth-largest company in Kazakhstan. Kazatomprom is focused on enhancing its operational excellence, market leadership, and sustainability performance. It is also exploring new opportunities in nuclear energy and innovation.
10. Kcell
Kcell is the largest mobile operator in Kazakhstan, which offers voice, data, and value-added services to over 10 million subscribers. Kcell operates under two brands: Kcell and Activ. Kcell is a part of Telia Company, a leading telecommunications group in the Nordic and Baltic regions. In 2023, Kcell reported revenue of $1 billion, making it the tenth-largest company in Kazakhstan. Kcell is dedicated to providing high-quality and affordable mobile services to its customers. It is also leveraging advanced technologies such as 4G and 5G to enhance its network coverage and capacity.
Conclusion
These are the top 10 companies in Kazakhstan by revenue for 2023, according to Zoominfo and Statista. These companies represent various sectors and industries that contribute to the economic development and diversification of Kazakhstan. They also demonstrate their excellence, innovation, and responsibility in their respective fields. These companies are expected to continue their growth and success in the future.
Most Asked Questions and Answers
Here are some of the most asked questions and answers about the top 10 companies in Kazakhstan:
Q: What is the largest company in Kazakhstan by revenue?
A: The largest company in Kazakhstan by revenue is Eurasian Resources Group (ERG), which reported revenue of $33.1 billion in 2023.
Q: What is the main industry of Kazakhstan?
A: The main industry of Kazakhstan is oil and gas, which accounts for about 40% of its GDP.
Q: What are some of the challenges faced by companies in Kazakhstan?
A: Some of the challenges faced by companies in Kazakhstan are geopolitical risks, currency fluctuations, environmental issues, regulatory uncertainties, and human capital development.
Q: What are some of the opportunities for the companies in Kazakhstan?
A: Some of the opportunities for the companies in Kazakhstan are regional integration,