‘ElKat became fully owned by the state

On 31 March, Kanybek Tumanbaev, the manager of presidential affairs of the Kyrgyz Republic, said that ElKat is now fully owned by the state. Previously, 51% of the shares were owned by the state through the Presidential Affairs Department, but then transferred to private individuals. After a law enforcement audit, the company returned to state ownership.

The company had a $1.2m debt to the World Bank and IFC, which was repaid after the appointment of an external manager. In 2024, profits totalled KGS 416m, and are expected to grow 4-5 times in 2025.

Tumanbayev also announced the appointment of Nuradil Bayasov as the new director of the company from 1 April 2025. The decision was made after Ulanbek Tolubaev was dismissed at his own request. Currently, ElKat is fully owned by the Presidential Affairs Directorate.
Taalai Baiterekov, director of ElKat Interconnect, noted that the company's traffic volume is about 700 gigabits per second, and services are provided not only in Kyrgyzstan, but also in Tajikistan, Uzbekistan and Afghanistan.

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‘ElKat became fully owned by the state

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