Zhandos Shaikhy discusses new business support strategies with Damu Fund

On December 13, 2024, Zhandos Shaikhy, Deputy Chairman of Baiterek National Management Holding, met with the team of the Damu Entrepreneurship Development Fund to discuss innovative approaches to supporting entrepreneurs.

The discussion focused on business financing, with an emphasis on transitioning to market-driven tools that minimize government expenditure. Zhandos Shaikhy highlighted the importance of introducing a guarantee fund:

"The guarantee fund will not only optimize the use of budgetary resources but also strengthen market-based instruments for supporting businesses. We aim to achieve a high socio-economic impact while keeping government costs low."

The meeting also reviewed the current activities of the Damu Fund. Deputy Chairman of the Board, Erbol Yeskakov, presented the results of recent audits, confirming the absence of significant violations and the Fund's readiness to address any noted remarks efficiently.

Additionally, Almas Kudaibergen, Managing Director and Head of the Risk Management Department, unveiled an updated concept for the guarantee fund. This concept was developed in collaboration with key stakeholders to better align with market needs.

The meeting concluded with participants outlining steps to implement the proposed measures, aiming to enhance the effectiveness of entrepreneurship support in Kazakhstan.