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ASTANA – The business strategy is anchored in three core pillars: contributing to the economy, maintaining environmental standards and investing in human capital. That’s the philosophy of Kazakh businessman Kenges Rakishev, who views business not merely as a means of generating profit, but as a boost for sustainable transformation.
Kazakh businessman Kenges Rakishev. Photo credit: Zhanarbek Amankulov.
His company’s portfolio includes diverse sectors — from mining and venture capital to educational technology.
“I believe that all entrepreneurs in Kazakhstan work for the benefit of the country and its people. And this is not common. We are a nation that works hand in hand for the benefit of future generations,” Rakishev said in an interview for this story.
Education stands out as a key priority. Almaty-based private school enrolls 1,300 students and seeks to become one of the country’s major academic institutions. This year, the school became the first educational institution in Kazakhstan to issue bonds on the Kazakhstan Stock Exchange (KASE). This move to attract external investment is expected to support the implementation of large-scale sustainability projects and provide more opportunities for talented students.
“We aim to equip Kazakhstan’s young people to address local and global challenges effectively, and we believe in an individualized approach to shaping the future. If you look closely, when we talk about ESG, for us, work is closely tied to education and sustainability,” Rakishev added.
His belief in the power of systemic solutions is reflected in the company’s environmental initiatives. In 2012, together with his spouse Assele Tasmagambetova, he founded the Central Asian Institute for Environmental Research (CAIER). The center operates as a consulting hub for businesses to meet sustainability principles.
“Assele is an ecologist and a source of inspiration, even internationally. She is the Chair of the Advisory Committee of the UN Global Impact in Central Asia, an institution established to effectively address international issues related to the environment, water, hunger and poverty, infrastructure, energy and food security, and has been acknowledged as SDG Pioneer by the UN itself,” he said.
The company also promotes low-carbon technologies in the mining industry. The Kaznickel project uses the underground leaching method, an environmentally friendly alternative to traditional mining methods.
“Our commitment includes strict adherence to ecological standards, public participation and good governance,” Rakishev explained. “It sounds very cliche, but it’s true. Take a look at the work we do at Kaznickel, where we use a technique called in-situ leaching (ISL) or called in-situ recovery (ISR), a mining technique in which chemical solutions are pumped through an underground, mineralized ore body to dissolve and extract the target materials without physically removing the surrounding rock, and that is respectful with the environment. Technology allows us to do things differently.”
Through the Saby Foundation, established more than 20 years ago, his team has implemented projects in the field of medicine, inclusion and charitable support.
Empowering the young generation is in the spotlight. Through his venture fund, Rakishev backs startups that are developing technological solutions in transport, environmental sustainability and digital infrastructure. One such initiative is UvU, an intelligent system designed to optimize school bus routes, enhancing both efficiency and safety in student transportation.
“One of our first investments was UvU, a company that operates state-of-the-art technologies to optimize routes for students going from home to school. Helping to transport those who are in their educational phase is, in a way, betting on the future, isn’t it?” he said.
For the company, sustainability is not a trend — it is a strategic imperative. And perhaps that is precisely why their vision resonates both in Kazakhstan and beyond.
Rakishev is convinced that business can — and must — serve as a driver of positive change.
“We can change the world by helping future generations to think about improving the country we have inherited and built over the last 30 years,” he said.
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