Fincraft Group credit rating has been upgraded to BB- on international scale and kzA- on national scale. It is the second rating in row, as Fincraft Group, the main Kenes Rakishev investment company, gains stability, lowers debt exposition and buys back the shares.
This time Standard&Poor’s has revised the rating because of stable political outlook and growing financial discipline in Kazakhstan. Fincraft Group, which is an umbrella company for many Kenes Rakishev venues, hosts financial and insurance business the well-known entrepreneur Kenes Rakishev owns.
International financial rating company assigned a stable outlook for the Kenes Rakishev’s Fincraft Group indicating that the company is on the right development track and is sufficiently funded and profitable.
Kenes Rakishev, #9 in the Forbes magazine national assets rating and #6, according the same magazine when judging by influence, maintains broad spectrum investment activities. He is actively involved in stock market, both national and international, financial service economy, financial technology, metal mining and refinement, high-tech startups, including AI, EV and robotics. His most recent activities are dedicated to two new projects he develops. Kenes Rakishev prepares to make public his nickel and cobalt mining business. The Battery Metal Company will see the IPO on Hong Kong stock exchange and at the national KASE stock market. He also keeps in sleeve a project in a green energy. His new OXUS SPAC has seen a successful IPO on NASDAQ collecting $172.5 million at the start. OXUS will unite, by merger and acquisitions several companies in the alternative and green energy sectors.
Kenes Rakishev is the head of Boxing Federation of Kazakhstan and co-founder of Saby Charity foundation.