ASTANA – Samruk Kazyna Sovereign Wealth Fund reported financial results above its targets for the first seven months of 2026, while increasing procurement from domestic producers as the fund seeks to strengthen the role of local companies in its supply chains.
Prime Minister Olzhas Bektenov chaired a meeting of the Samruk Kazyna Board of Directors on Aug. 27. Photo credit: PM’s press service. Prime Minister Olzhas Bektenov chaired a meeting of the Samruk Kazyna Board of Directors on Aug. 27, where members reviewed the fund’s operational and financial performance, support for domestic manufacturers and the implementation of investment and innovation projects.
Samruk Kazyna generated 12.5 trillion tenge (US$27.24 billion) in revenue in January-July, 5% above its target, according to its Chairman Nurlan Zhakupov. EBITDA exceeded 3.4 trillion tenge (US$7.41 billion), coming in 7% above plan, while net profit surpassed 1.2 trillion tenge (US$2.62 billion), 4% higher than the target.
The results indicate that the fund’s major portfolio companies have maintained stronger-than-expected financial performance despite differences across sectors. For Samruk Kazyna, however, financial returns represent only part of its role in the economy. As the holding company overseeing major state-linked enterprises, its procurement and investment decisions can also influence the development of domestic production and industrial capacity.
One of the key areas discussed at the meeting was support for Kazakh producers through procurement by companies within the Samruk Kazyna Group. Since the beginning of the year, contracts worth 694 billion tenge (US$1.51 billion) have been signed with domestic producers, a 32% increase compared with the same period of 2025.
The procurement system currently includes more than 16 measures designed to support local manufacturers. These include preferential treatment for Kazakh-made goods, long-term contracts, mandatory 30% advance payments and accelerated payment mechanisms. The fund also signed 52.8 billion tenge (US$115.1 million) in offtake contracts during January-July.
Science and innovation remain part of the strategy The fund’s research and development portfolio currently includes 55 research and development projects worth 13.9 billion tenge (US$30.3 million), seven of which have already been completed.