Eurasia / Tech
Kazakhstan’s big league fintech Kaspi acquires 65% of Turkish Nasdaq peer Hepsiburada for $1.1bn
E-commerce platform’s share price jumps 40% as news of its new owner breaks.
MACRO ADVISORY: Kazakhstan’s fast growing digital economy supports Tokayev’s ambitious plan
Kazakhstan’s economy, estimated to be $260bn last year, is the largest in the Eurasia region (ex-Russia). President Tokayev has set out a very ambitious reform programme to double that valuation by the end of this decade.
Kazakhstan and Nasdaq-listed fintech Kaspi fight back against short seller’s report
Regulator argues company is “one of the country's systemically important banks” that is in full compliance with sanctions regimes.
Short seller argues Nasdaq-listed Kazakh fintech heavyweight Kaspi “misled” market over Russia links
Company says claims made in Culper Research report misrepresents its business. Share price falls 22% after release of analysis.
Uzbekistan expects volume of digital services to reach $3.4bn by year-end
Uzbekistan is seeking to expand its tech sector, and boost exports of digital services.
US lab invents a Fremen-tech water harvester
An American lab has developed “Fremen-like” technology that can extract moisture from the air even in a desert.
Turkmen authorities scrambling to control scheme that gives citizens open access to the Internet
Citizens find portal to the outside world.
New Baku-based VC fund aims to seize “new dawn opportunity” in Central Asia and MENA
A sizable new investment capacity is set to invigorate the young Azerbaijani and Central Asian startup and venture landscape. Sabah.Fund has announced its first close of $11mn and aims to raise $25mn in total.
US firm C&N Associates plans to build Uzbekistan "smart city" costing up to $15bn
Project also aims to raise connectivity between Tashkent and Nurafshan with high-speed trains.