Kazpost

Performance indicators

2023: Profit - 2.4 billion tenge

In 2023, Kazpost's net profit amounted to 2.4 billion tenge, which is a record figure for the national postal operator of Kazakhstan. The company's revenue reached 85.9 billion tenge against 50 billion tenge a year earlier. Such data were released in early May 2024.

In 2023, Kazpost received its first net profit in five years. For comparison: in 2022, the company's net losses were measured at 12.5 billion tenge, which is 1.7 times more than the monetary losses of a year ago.

source = Kazpost

The result is significant for Kazpost, since for the first time after the pandemic, the company showed profit and allocates a significant share to dividends, the company commented.

Against the background of high financial results, Kazpost decided to pay dividends for 2023 to the Samruk-Kazyna fund in the amount of 1.5 billion tenge, or 62.5% of net profit. These payments are confirmation of the stable financial situation and development strategy of Kazpost for the next years, the press service of the postal operator added.

In October 2023, the head of Kazpost Asel Zhanasova informed the President of Kazakhstan Kassym-Zhomart Tokayev that due to the optimization of expenses, the development of e-commerce and other financial services, the company ceased to be unprofitable for the first time in five years and received a net profit.

Kazpost's revenues from its main activities amounted to 85.2 billion tenge, which is 7% higher than the planned level. Compared to 2022, revenues from core activities increased by 24.3 billion tenge, or 40%.

Revenues from postal services in 2023 increased by 2.7 billion tenge, or 8%, due to an increase in parcel revenues by 1.9 billion tenge. In the segment of accelerated delivery of letters and parcels, annual revenue increased by 1.5 billion tenge, for special communications services - by 791 million tenge.^[1]

History

2024: Obtaining permission for cryptocurrency transactions

On July 22, 2024, it became known that the national postal operator of Kazakhstan "Kazpost" received official permission to carry out fiat transactions with digital assets. This innovation opens up new opportunities for citizens of the country to acquire cryptocurrency through a state postal operator.

According to the Astana International Financial Center (AIFC), Kazpost was included in the list of organizations authorized to provide services for replenishing and withdrawing funds from crypto exchanges along with second-level banks. This decision significantly expands the access of Kazakhstanis to the digital asset market.

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Inbusiness

Director General of the Agency for Regulation and Development of the Financial Market (AFSA) Nurhat Kushimov stressed the importance of this step for the development of the digital asset industry in Kazakhstan. According to him, the increase in the number of fiat channels will contribute to the growth of competition and will have a positive effect on the industry as a whole.

Chairman of the Board of Kazpost JSC Asel Zhanasova revealed the details of the planned innovations. In 2024, the company intends to launch the first collaboration, which will allow holders of Kazpost payment cards to enter fiat funds into crypto exchanges for the acquisition of digital assets, as well as conduct reverse operations for crediting funds from crypto exchanges to cards online.

AIFC statistics indicate the growing interest of Kazakhstanis in cryptocurrency operations. In the first half of 2024, the trading volume of all digital asset service providers licensed to the AIFC exceeded $543 million.

Trade in crypto assets in Kazakhstan is regulated by law. Transactions are allowed only on exchanges registered with the AIFC. Income from the sale of digital assets is subject to individual income tax in the amount of 10% of the increase in value. Individuals are required to independently declare such income using the appropriate tax reporting forms.^[2]

2020: Appointment of Kanat Alpysbayev as head of Kazpost

At the end of July 2020, Kanat Alpysbaev headed Kazpost. The former chairman of the board of the national postal operator of Kazakhstan was Saken Sarsenov. He went to another job (where exactly, not specified). Read more here.

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