ABU DHABI, 13th October, 2023 (WAM) — Presight has announced the signing of a term sheet with Kazakhstan’s National Welfare Fund (Samruk-Kazyna JSC), a US$70 billion asset sovereign wealth fund, to establish a joint venture to accelerate digital transformation in Kazakhstan.
On the sidelines of the Digital Bridge 2023 forum in Astana, Kassym-Jomart Tokayev, President of Kazakhstan and Bagdat Mussin, Minister of Digital Development Kazakhstan, met with Thomas Pramotedham, CEO of the UAE-based Presight, and Nurlan Zhakupov, CEO of Samruk-Kazyna, and announced the joint venture.
Endorsed by the President of Kazakhstan, Kassym-Jomart Tokayev, both Samruk-Kazyna and Presight will embark on a joint venture aimed at accelerating digital transformation in Kazakhstan through the deployment of Presight’s AI and big data analytics solutions and technologies.
These will help to boost operational efficiency, minimise production losses, and develop human capital across the Samruk-Kazyna portfolio companies and in other key sectors of Kazakhstan, including energy, telecoms, transport, government, and public services, thereby enhancing socio-economic prospects.
Nurlan Zhakupov CEO of Samruk-Kazyna JSC group, said, “As a strategic asset manager of the country, Samruk-Kazyna sees digitalisation as one of its priorities. I hope that together with Presight we will strengthen the partnership between our countries and contribute to the creation of a single digital community.”
Thomas Pramotedham, CEO of Presight, said, “We are proud to be joining forces with Samruk-Kazyna in this presidentially endorsed initiative in Kazakhstan. This partnership provides us with a unique opportunity to contribute our expertise in AI and data analytics, not just to accelerate digital transformation, but also to enhance socio-economic prospects for the people of Kazakhstan.”