About

  • Key Events in the Company’s History
  • June 1 – Establishment of GSM Kazakhstan OAO Kazakhtelecom LLP.
  • June 8 – The Company acquired a perpetual state license to offer GSM mobile communication services.
  • February 7 – The Kcell brand was launched.
  • September 9 – The activ brand was launched.
  • September 18 – The Company became the first mobile communications provider in the Republic of Kazakhstan to grant access to the Internet from mobile devices.
  • September  –  The multimedia messaging service (MMS) was launched. 
  • September 13 – The Company became the first operator in Kazakhstan to provide the GPRS roaming service.
  • August 26 – The Company’s license was revised and amended to include the right to operate a GSM-1800 network.
  • December 1 – The commercial operation of the 3G network commenced in the cities of Astana and Almaty.
  • February 2 – The transaction for the sale of Sonera Holding B.V.’s participatory interest to Kazakhtelecom JSC was completed. 
  • August 27 – The Company underwent reorganization and became a joint stock company, changing its name to Kcell JSC.
  • November 29 – The ordinary shares of Kcell JSC were listed on KASE.
  • December 13 – The listing of global depository receipts was finalized on LSE.
  • April 15 – Kcell JSC became an official distributor of iPhones in Kazakhstan.
  • September – The start of a large-scale rebranding campaign for the activ trademark.
  • November 16 – The Kcell/activ mobile application was launched.
  • According to the annual results, the Company became the leader among non-financial companies in Kazakhstan in terms of taxes paid.
  • February – The rebranding of the trademark activ was completed.
  • March – The first activ brand outlet was opened in Almaty.
  • January 5 – The Company was authorized to use additional frequencies within the range of 700/800 MHz to 1800 MHz to enhance communications within the country and prepare for the launch of its 4G and LTE services (which were launched in the same year).
  • March 1 – The LTE network was launched in Kazakhstan.
  • June – The 4G+ (LTE Advanced) network was launched in Almaty and Shymkent.
  • November 1 – The international rating agency Fitch assigned the Company a Long-Term Issuer Default Rating of BB with a Stable Outlook.
  • January 16 – The Company issued bonds for an amount of 4.95 billion Tenge, which were placed on KASE.
  • December 21 – Kazakhtelecom JSC acquired shareholdings in Kcell JSC from Telia Company and Fintur Holdings B.V., thereby obtaining 75% of the outstanding shares in the Company.
  • January 10 – Freedom Finance JSC announced the consolidation of 10.46% of the shares in Kcell JSC, becoming one of the major stakeholders in the Company.
  • During the pandemic, 3,500 healthcare professionals were provided with free voice communications and internet traffic.
  • Subscribers were granted free access to over 400 distance learning websites and 27 mobile applications for online banking.
  • April 16 – The installation project for SIMcomats (self-service terminals) was launched. These terminals use biometric identification when customers purchase new or replacement SIM cards, top up their phones, and install eSIMs on their devices.
  • June 14 – The delisting of the global depository receipts was completed at LSE and AIX.
  • July – The line of financial services OGO Finance was launched in collaboration with First Heartland Jusan Bank JSC and the international payment system MasterCard.
  • September 30 – Kazakhtelecom JSC sold 24% of the shares in Kcell JSC through KASE.
  • January – The operational headquarters was created during the state of emergency declared due to mass disturbances, aiming to ensure timely decision-making, provide uninterrupted communications to subscribers, and assist the government.
  • February 25 – The first phase of implementing the Nexign Converged BSS billing system was completed.
  • December 12 – Fitch Ratings affirmed Kcell JSC’s Long-Term Issuer Default Rating at BB+ with a Stable Outlook.
  • December 16 – Kcell JSC, in consortium with Mobile Telecom-Service LLP, emerged as the winner in an auction for the use of 5G networks.
  • December – The second phase of implementing the Nexign Converged BSS billing system was completed.
  • 12 March 2023 – official commercial launch of 5G network in Almaty, on 15 March 2023 in Shymkent. The 5G network was launched within the 3700 – 3800 MHz frequency band.
  • 1 September 2023 – launch of the fixed home internet service Kcell Auleti, which provides customers access to home internet at high speed on the 5G network with full comfort and without the need to lay cables.

Business review

  • Kcell has taken the first place as the fastest mobile Internet in Kazakhstan according to the rating from Ookla®
  • Launch of Kcell Auleti fixed home internet service
  • Ericsson became Kcell’s key partner for 5G network deployment in key regions, including Almaty, Shymkent and several others.
  • Commercial launch of 5G network within 3700-3800 MHz band in Almaty and Shymkent
  • A consortium of mobile operators Kcell JSC and Mobile Telecom Service LLP wins the 5G auction
  • Fitch Ratings affirmed Kcell JSC’s long-term issuer default rating at “BB+”, Outlook Stable

81,97%

LTE traffic accounts for 76.9% of the total data traffic

​72,55%

Providing the population with LTE communications

​91,02%

85% of the population is covered with 3G

Charter

Charter of JSC Kcell
Changes and additions No. 1 to the Charter of Kcell JSC
Changes and additions No. 1 to the Charter of Kcell JSC
1. General Provisions
  • 1.1. This Charter of the joint stock company “Kcell” (hereinafter referred to as the “Company”) determines its name, location, procedure for the formation and competence of its bodies, conditions for reorganization and termination of its activities and other provisions that do not contradict the legislation of the Republic of Kazakhstan.
  • 1.2. Full name of the Company: in Russian: Акционерное общество «Кселл»
  • 1.3. Abbreviated name of the Company: in Russian: АO «Кселл»

Dividend Policy

In accordance with the laws of the Republic of Kazakhstan, the Company Charter and this Policy, as well as based on the audited financial statements of the Company for the relevant period, the Board of Directors prepares a proposal on distribution the Company’s net profit for the past financial year, quarter or half-year period and the amount of dividends for the year, quarter or half-year period.

The decision to pay dividends and approve dividends per ordinary share is made by the General Meeting of Shareholders. The amount of annual dividends on ordinary shares of the Company will be at least 50% and no more than 100% of the Company’s net cash flow for the previous financial year (Cash flow from operating and investment activities). The payment of dividends result in violation of the Company’s financial covenants to creditors.

Taking into account the cash flow from operating and investment activities, the minimum amount of dividends should be 20% (twenty percent) of the net profit for the past financial year.

Dividend Policy
1. General provisions
  • 1.1. This Dividend Policy of Kcell JSC (hereinafter – the Policy) has been developed in accordance with the legislation of the Republic of Kazakhstan, Kcell JSC Charter, Kcell JSC Corporate Governance Code and other internal documents of the Company.
  • 1.2. Definitions
  • Company – Kcell Joint-Stock Company;
  • Shareholders – holders of shares in the Company;
  • Share – an ordinary share of Kcell JSC / a global depositary receipt;
  • Dividends – income of the Company Shareholder on the Shares owned by him, paid by the Company;
  • General Meeting of Shareholders – the supreme body of the Company;
  • Registrar – an organization whose professional activity includes maintaining the system of registers of holders of the Company’s securities.
  • 1.3. The terms and procedure for payment of Dividends to the Shareholders are governed by the legislation of the Republic of Kazakhstan, the Company’s Charter, the Prospectus of share issue of the Company, and the relevant decisions of the General Meeting of Shareholders.

Policies and Regulations

Kcell JSC Regulation on the Internal Audit Service
Regulation on the Management board of Kcell joint stock company
Code of Ethics and Conduct
Privacy Policy
Anti-corruption policy
Supplier Code of Conduct
Regulations on the Board of Directors of Kcell JSC
Kcell Security Directives
Regulations on resolving conflicts of interest in Kcell JSC
Corporate governance code JSC “Ksell”
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Member of the Management Board, Chief Finance Officer

Damir Mullashev graduated from Kazakhstan Institute of Management, Economics and Forecasting (KIMEP) in 2003. His professional experience spans 20 years in financial sector, of which 13 years in leadership roles. He started his career in the banking sector, where he worked in an investment bank since 2007 and since 2013 in a private equity fund. In 2016 he moved to the telecommunications industry and took up the role of Head of External Asset Management Service at Kazakhtelecom JSC. He has extensive experience in corporate finance (M&A), telecom asset management, as well as debt and equity financing. In September 2022, Damir Mullashev joined Kcell JSC as Deputy Chief Finance Officer and in December 2022 he was appointed acting Chief Finance Officer.

Member of the Management Board, Chief Commercial Officer

Olga Tsoi holds a master's degree in business administration from KIMEP University. She has 17 years of work experience in the commercial sector in various industries, of which 13 years in leadership roles, including 3 years in FMCG and retail, 8 years in telecom, 3 years in consulting (FinTech and InsuranceTech) and 3 years in the banking sector. In 2023, Olga was appointed Director of Consumer Department of Kcell JSC.

Daniyar Ibrayev graduated from the Military Institute under NSC of the Republic of Kazakhstan (currently the Border Force Academy under NSC) in 2000 with a degree in Telecommunications Engineering. In 2007, he graduated from the Kazakh Humanitarian Law University (Nur-Sultan), with a Bachelor of Law degree. Since 2020, he has worked at Kcell JSC as an Adviser to the Strategic Development Department, then as a Chief Expert of the Security Department. Since 2017, he has worked at The Unified Pension Savings Fund JSC and prior to that he worked in government bodies.

Kirill Strashenko graduated from the Almaty Institute of Energy and Communications in 2004, majoring in Telecommunication Engineering. From 2004 to 2016, he has held various positions at Kcell JSC, from a Data Transmission Systems Engineer to Manager of Data Transmission Systems Section. From 2016 to 2018, he has held the position of Network and IT Infrastructure Manager, and was also appointed as Project Manager for the Unified LTE Network Construction project (a joint project with Kar-Tel LLP). He was appointed Deputy Technical Director (2018-2021) and later Network Development Manager (2021-May 2022). In 2019, he was awarded the state award "Kurmetty Bailanyshy”.

Member of the Management Board, Chief Corporate Director

Mr. Uisumbayev was appointed Chief Corporate Officer and a member of the Management Board since April 15, 2022.

Azamat Uisumbayevfor the last 12 years, he has worked in the group of companies of Kazakhtelecom JSC in various positions, including Managing Director - Financial Controller of Kazakhtelecom JSC and Commercial Director of KT Cloud Lab LLP. Prior to joining the telecommunications industry, he worked in government bodies of the Republic of Kazakhstan. Higher education in the specialties - economic and legal. He has a master's degree from MPA&MBA, RANEPA, Moscow. Successfully completed an advanced training course at the Moscow School of Management “Skolkovo” under the program of additional professional education "Leaders of Digital Transformation". Currently studying under the Executive MBA program at Nazarbayev University.

Member of the Management Board, Chief Digital Development Officer

Malik Amardinovin 2008 graduated from the Academy of Banking of the Kazakhstan Alatau University, Faculty of Finance, in 2016 graduated from the Kazakhstan Engineering and Technology University, Faculty of Higher Technical Education. Total work experience - 16 years in IT, 12 of them in senior positions in the banking sector. Most recent positions are Executive Director and Chief IT Architect of Fortebank, where Malik successfully led all IT development.

Chairman of the Management Board, Chief Executive Officer

Askhat Uzbekov elected to the position of Chairman of the Management Board, Chief Executive Officer of Kcell JSC, effective May 11, 2022.

Askhat Uzbekov graduated from Turan University (Kazakhstan) in 2000 majoring in International Economics. In 2022, he took his Executive MBA from London Business School. Until 2005, Askhat Uzbekov worked in the tax and audit departments at Ernst & Young Kazakhstan LLP, and for the next seven years, until early 2012, he has held various positions in the Treasury Department of KazMunayGas Exploration Production JSC. Then for almost 2 more years, until December 2014, he worked as CFO at KMG EP International (Netherlands).

In January 2015, Askhat Uzbekov joined Kazakhtelecom JSC, the largest national telecom operator, as Finance Director. In March 2015 he was appointed Managing Director - Chief Treasurer of Kazakhtelecom JSC. In January 2016, his job responsibilities were expanded to include the duties of a financial controller of the Kazakhtelecom group of companies. From September 2016 up to the present, he has held the position of Chief Financial Officer of the company. Askhat Uzbekov was actively involved in the acquisition of the 75% stake in Kcell JSC in 2018.

Member of the Kcell Board of Directors since May 19, 2022.

Representative of shareholder Kazakhtelecom JSC

Since 2019, Ms. Kishkimbayeva has been the Managing Director for Legal Affairs and Risks of Kazakhtelecom JSC. Ms. Kishkimbayeva graduated from the Adilet Higher School of Law with a degree in Law, as well as the Kazakh State University of World Languages (English language department).

Ms. Kishkimbayeva has extensive experience in the telecommunications as well as oil infrastructure. Her previous work experience includes Kcell JSC, PetroKazakhstan Inc., KASP CJSC AralParker.

Member of the Kcell Board of Directors since May 19, 2022.

Representative of shareholder Kazakhtelecom JSC

Member of the Kcell Board of Directors since May 19, 2022. On May 19, 2022, at the Annual General Meeting of Shareholders  was re-elected for 3 years. 

Mr. Lezgovko has over 30 years of experience in the telecommunications industry. Since 1999, he has worked at Kazakhtelecom JSC. From 2007 to 2021, he has held the position of the Chief Technical Director at Kazakhtelecom JSC.

Mr. Lezgovko graduated from the Almaty Energy Institute with a degree in Automatic Telecommunications. In 2005, he was awarded the title of ‘Kurmetti Baylanysshy’.

In 2012, he was awarded the Kurmet order.

Member of the Kcell Board of Directors since May 19, 2022.

Independent director

Mr. Kivikko has many years of experience in the telecommunications industry, where he has held senior positions at TeliaSonera and Tele2. He also worked as Managing Director of Paroc Owens Corning Insulation Materials in Russia. He is currently the Managing Director at Fexcon Consulting.

Mr. Kivikko holds a Master's degree in Management Accounting and Business Law and Marketing from the School of Economics and Business Administration (University of Turku) Turku, Finland.

Independent Director

Member of the Board of Directors of Kcell JSC since 29 November 2023.

Mr. Zhamalov has extensive experience in the financial sector, including in Kazkommerts Securities JSC, ING Bank N.V. in its London office and the National Bank of the Republic of Kazakhstan. He currently holds the position of Head of the Representative Office of Dutch ING Bank N.V. in Kazakhstan. He joined the telecommunications sector in 2014 as Chief Manager of the Project Finance Department of Kazakhtelecom JSC and was also a member of the Board of Directors of KazSatNet National Company JSC and National Information Technologies JSC, an operator of the e-government information and communication infrastructure.

Mr Zhamalov holds an Executive MBA from Cambridge University (UK), a MSc in International Financial Analysis from Newcastle University (UK) and a BSc in Financial Mathematics from Charles University (Czech Republic). Mr. Zhalov holds the prestigious CFA financial certificate and Certificate in Company Direction from the Institute of Directors (UK).

Member of the Board of Directors of Kcell JSC, representative of major shareholder Galimzhan Yessenov.

Elected to the Board of Directors of Kcell JSC at the Extraordinary General Meeting of Shareholders on 29 November 2023.

Mr. Kereybayev has extensive experience in information technology and telecommunications, economic analysis and planning, and finance.

During 2018 - 2021, he has held the position of Managing Director for Digitization and Transformation at Samruk-Kazyna JSC.

In 2021, he moved to Kazakhtelecom JSC as Managing Director for Modernization Programme, then was appointed Director for Support Functions Development.

Mr. Kereybayev is currently Chairman of the Board of Directors of Jusan Mobile JSC.

Mr. Dauren Kereybayev graduated from Novosibirsk State University with a degree in Mechanics and Applied Mathematics (1992) and from the Kazakh State Academy of Management with a degree in Finance and Credit (1998).

In 2018, he received a master’s degree in business administration in the Executive MBA programme at the University of Chicago Booth (USA).

He has been awarded the medal "Yerenenbegi ushin" and the public order "Yenbek sinirgen karzhy mamany".

Member of the Board of Directors since January 15, 2019.

Independent director

Member of the Board of Directors since January 15, 2019. On May 19, 2022, at the Annual General Meeting of Shareholders  was re-elected for 3 years.

Mr. Calmes has over 20 years of experience in the telecommunications, wholesale and retail business with a particular focus on emerging markets. From December 2016 to June 2019, he was the CEO of Metro Cash & Carry Russia. Prior to that, Mr. Calmes held various senior positions in the telecommunications sector, including CEO of Tele2 Russia, Managing Director of Wind Telecomunicazioni, Managing Director of the Moscow office of VEON JSC. Mr. Calmes holds a bachelor's degree in Political science and Economics from Bates University, Maine, USA, and has also completed the Wharton School of Business Executive Development Program.

Member of the Board of Directors since January 25, 2019.

Chairman of the Board of Directors.

Member of the Board of Directors since January 25, 2019. On May 19, 2022, at the Annual General Meeting of Shareholders  was re-elected for 3 years.

Mr. Buyanov is also an independent director of Kazakhtelecom JSC and Director at Bengala Investments S.A. From 2002 to 2014, he has held the position of Senior Vice President and Chief Financial Officer, and has been a member of the Management Board of Sistema OJSC – an investment fund listed on the London Stock Exchange.

From 2014 to 2016, he has held the position of Managing Director and Head of the Investment Committee of Redline Capital Management S.A. Mr. Buyanov graduated from the Moscow Institute of Physics and Technology (MIPT) with a degree in Applied Physics and Mathematics, and completed Oxford Fintech Program by Said Business School, University of Oxford.