Financial turnover is encouraging

Today it is not for nothing that they say that KazAgroFinance is the backbone of the agricultural sector. It is now known that the state pays great attention to the development of the country’s agriculture.

As a result of this support, many collective farms and joint-stock companies have been created, and good deeds are being carried out. Here we can clearly see all this if we look at the activities of KazAgroFinance JSC last year and the upcoming tasks.
KazAgroFinance JSC intensively provides assistance in modernizing agricultural machinery in accordance with its main task. In particular, as of March 29, 2019, 798 financial leasing agreements totaling 10.7 billion tenge were concluded with agricultural producers for spring field work. Based on this, combines, tractors, crop-growing complexes and other equipment from Kazakh and foreign manufacturers will be purchased.

In this regard, it is worth noting that in 2018, KazAgroFinance JSC financed 3,426 units of various agricultural machinery for a total amount of 63 billion tenge. As a result of such work, the domestic agro-industrial complex was provided with new equipment and contributed to improving the country’s image.

In general, if you look at the long-term activities of KazAgroFinance JSC, you can see that it is implementing various programs for the development of the agricultural sector. For example, subsidizing interest rates on loans and rental of agricultural machinery and technological equipment. This program has been implemented since 2014. From this year to 2018, 15,847 financial leasing and loan agreements were approved for subsidization, amounting to 206 billion tenge of the principal debt. This work continues regularly. Let’s say that already this year more than 50 applications have been received through the Qoldau.kz web portal.
There is no doubt that investment in the agro-industrial complex is one of the most pressing issues today. In this regard, the joint-stock company carries out its activities in accordance with the requirements of the time. At the end of 2018, the volume of investments in the agricultural sector amounted to 72.7 billion tenge. This indicates that the annual plan was fulfilled by 111 percent.

The basic financial turnover of the joint-stock company is also encouraging. As of January 2019, the company's assets amounted to 299,449 million tenge, and net profit exceeded the target. It reached 6.694 million tenge, that is, it was exceeded by 238 percent.

There are plenty of challenges and work ahead. Among them, the main strategic objectives are to increase investment attractiveness, improve and develop leasing activities, and implement corporate development.