Mikheil lomtadze

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Mikheil Lomtadze
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Born
Mikheil Lomtadze

(1975-10-17) October 17, 1975 (age 48)
Batumi, Georgia
OccupationTechnology entrepreneur, investor, shareholder

Mikheil Lomtadze (Georgian: მიხეილ ლომთაძე, born October 17, 1975, in Batumi, Georgian SSR, USSR) is a technology entrepreneur,.[1] investor,[2] co-founder,[3] shareholder[4] and Chairmanof the Management Board in Kaspi.kz, shareholder and Chairman of Supervisory Board of merged Kolesa, Krisha, Market company.

Member of Harvard Business School Middle East & North Africa Advisory Board.[5][6] Mikheil is one of the top-ten most influential businessmen of Kazakhstan [7]

Education

Mikheil Lomtadze holds a BBA degree from European School of Management (Georgia, Tbilisi) in 1997 and MBA degree from Harvard Business School in 2002.[8]

Early career

Mikheil Lomtadze established his first company Georgia Consulting Group Audit in 1995, while being a student. The company provided audit and consulting services. In 2002, Lomtadze successfully sold the firm, which became part of the Ernst & Young global network.[9]

He then began his career at Russian largest private equity fund Baring Vostok Capital Partners – first as a project manager[10] and then as a partner.[11]

Kaspi.kz

Mikheil has transformed Kaspi Bank, which has been around since 1991, into Kaspi.kz, a highly profitable fintech. He “refounded” and incorporated Kaspi.kz Joint Stock Company in 2008 and has decisively revolutionized the traditional business. [12] [13] [14]

Lomtadze saw a competitive advantage of Kaspi in technologies and service, reallocated resources, rebranded [15] the company and began building the business ecosystem. [16] For now it combines a number of services for individuals and retail companies, provides an online platform for goods purchase and sale and a mobile app [17] in addition to the standard banking products – deposits, loans and payment transfers [18]

In 2018, Lomtadze announced plan to hold an IPO, and a year later he postponed London listing due to uncertainty in international stock markets and in the global technology sector, in particular [19]. The move proved fruitful — Kaspi.kz was oversubscribed by five times and valued at $6.5 billion [20] and its IPO was recognized as the second largest and the fourth in all of Europe in 2020 [21]

According to the Kazakh business press, Kaspi.kz managed by Mikheil Lomtadze is among the most successful projects in Kazakhstan and plays a significant role in the evolution of second-tier banks of Kazakhstan into marketplaces. [22]

Awards

In December 2012, he was awarded the Order of Kurmet for a significant contribution to the development of the economy and banking system of Kazakhstan.[23][24]

In December 2021 he was awarded the Order of Friendship for a significant contribution to the social and economic development of Kazakhstan.[25]

From 2018 to 2021, Mikheil Lomtadze was recognised as the best CEO in Kazakhstan according to the Kazakhstan Growth Forum.[26][27][28]

In 2017-2021, Mikhail was recognised as the best business leader of Kazakhstan; according to the respondents of the PricewaterhouseCoopers study, the Chairman of the Management Board Kaspi.kz is a leader in the use of advanced technologies in Kazakhstan, and has such characteristics as adaptive traits, strategic vision and focus on customer.[29][30][31][32][33]

In June 2020, he was awarded the People’s Gratitude medal for a significant contribution to COVID-19 pandemic response in Kazakhstan.[34] Vyacheslav Kim and Mikheil Lomtadze, the founders of Kaspi.kz, provided financial support to the coronavirus-busting effort by allocating 100 million tenge to the healthcare system of the Republic of Kazakhstan for purchasing rapid antigen tests and ventilators[35][36], as well as providing free 100 ambulances.[37]

In 2020, for the first time in its history, the Forbes Kazakhstan magazine announced two winners of the Businessman of the Year Award – Vyacheslav Kim, the founder of Kaspi.kz, and Mikheil Lomtadze, the Chairman of the Management Board of the company.[38] According to the editorial team, a key factor in selecting two representatives of the same company was an unprecedented successful of Kaspi.kz on the London Stock Exchange in October 2020.[39]

References

  1. "Conversation with Mikhail Lomtadze".
  2. "Mikheil Lomtadze Named Best CEO at Kazakhstan Growth Forum". 24 September 2021.
  3. "Mikhail Lomtadze". Forbes.
  4. "Mikhail Lomtadze becomes major shareholder of Kaspi.kz and Kaspi Bank".
  5. https://www.hbs.edu/globalactivities/Shared%20Documents/archive/2019%20Global%20Activities%20Report.pdf
  6. "Middle East & North Africa - Global - Harvard Business School".
  7. "Михаил Ломтадзе — Forbes Казахстан".
  8. "Mikhail Lomtadze: Another Globally Renowned Georgian on the Forbes Billionaires List". 2021-04-28. Archived from the original on 2022-07-29. Retrieved 2022-08-15.
  9. "Правила игры ЦБ сможет проверять банки повторно". www.kommersant.ru (in русский). 2003-01-15. Retrieved 2022-08-10.
  10. "Georgian Billionaires". forbes.ge. 2021-07-13. Retrieved 2022-08-10.
  11. "Mikheil Lomtadze — the Georgian who became a Kazakh billionaire". www.investor.ge. Archived from the original on 2022-03-27. Retrieved 2022-08-10.
  12. "Understanding Entrepreneurial Opportunity in Kazakhstan - Global Activities 2020 - Harvard Business School".
  13. "Kaspi.kz IPO ^ 220007".
  14. "Kazakhstan's SuperApp: Kaspi.kz". 21 January 2022.
  15. https://kase.kz/files/emitters/CSBN/csbnf9_draft.pdf
  16. "Secret of $2 Billion - What Caused the Success of Kazakh Kaspi at LSE, run by Mikheil Lomtadze?".
  17. "Inside Kaspi's Kazakh banking experiment". 13 January 2020.
  18. "Kaspi.kz once again recognized as # 1 in e-commerce". 16 September 2021.
  19. "Mikheil Lomtadze becomes a Billionaire as a Result of Listing Kaspi on LSE".
  20. "Kazakhstan Attracts over US$370 Billion in FDI Since Independence". 6 December 2021.
  21. "Fintech star Kaspi.kz most valuable ever listed Kazakh company after huge London IPO". 16 October 2020.
  22. "Kaspi.kz – сделано в Казахстане с любовью!". April 2019.
  23. "Kazakhstan Investment Forum 2021". www.lsegissuerservices.com. 2021-10-29. Retrieved 2022-08-13.
  24. "Михаил Ломтадзе «Құрмет» орденімен марапатталды". 7kun.kz. 2022-04-23. Archived from the original on 2021-11-17. Retrieved 2022-08-13.
  25. "Prime Minister of Kazakhstan Askar Mamin presents state awards on 30th anniversary of Independence". primeminister.kz. 2021-12-13. Archived from the original on 2021-12-20. Retrieved 2022-08-13.
  26. "Кто лучше всего руководит компаниями в Казахстане?". kapital.kz (in русский). 2018-09-20. Archived from the original on 2019-09-23. Retrieved 2022-08-14.
  27. "Глава Kaspi.kz Михаил Ломтадзе признан лучшим первым руководителем казахстанской компании — 2019 Country's Best CEOs". inbusiness.kz (in русский). 2019-09-20. Archived from the original on 2021-12-08. Retrieved 2022-08-14.
  28. "Kazakhstan Growth Forum Names Mikheil Lomtadze as the Best CEO". cbw.ge. Retrieved 2022-08-14.
  29. "Казахстанский выпуск 21-го ежегодного опроса руководителей крупнейших компаний мира, 2018" (PDF). Archived from the original (PDF) on 2022-04-12. Retrieved 2022-04-12.
  30. "Названы лучшие CEO Казахстана". forbes.kz (in русский). 2019-06-17. Retrieved 2022-08-13.
  31. "Mikhail Lomtadze recognized as best business manager in Kazakhstan". kaztag.kz. 2020-06-11. Archived from the original on 2020-06-29. Retrieved 2022-08-10.
  32. "Mikhail Lomtadze named best CEO in Kazakhstan for the third successive year". forbes.kz. 2021-04-06. Archived from the original on 2022-03-03. Retrieved 2022-08-14.
  33. "Казахстанский выпуск 25-го ежегодного опроса руководителей крупнейших компаний мира, 2022" (PDF). Archived from the original (PDF) on 2022-04-21. Retrieved 2022-04-12.
  34. "Mikhail Lomtadze awarded the 'People's Gratitude' medal by the President of Kazakhstan". forbes.kz. 2020-06-26. Archived from the original on 2021-12-15. Retrieved 2022-08-13.
  35. "Saby Foundation and Kaspi.kz purchase rapid tests for the determination of coronavirus". saby.kz/. 2022-03-19. Archived from the original on 2021-06-19. Retrieved 2022-08-10.
  36. "Фонд "Саби" и Kaspi.kz выделили 200 миллионов тенге на экспресс-тесты на коронавирус". tengrinews.kz (in русский). 2020-03-19. Archived from the original on 2022-01-21. Retrieved 2022-08-10.
  37. "Kaspi.kz дарит 100 машин скорой помощи". informburo.kz (in русский). 2022-04-23. Archived from the original on 2022-05-17. Retrieved 2022-08-10.
  38. "Дуумвират: Forbes Kazakhstan определился с выбором лучшего бизнесмена 2020 года". forbes.kz (in русский). 2021-01-08. Retrieved 2022-08-10.
  39. "Kazakhstan Fintech Firm Kaspi Surprises With Huge London IPO". www.forbes.com. 2020-10-15. Archived from the original on 2022-08-16. Retrieved 2022-08-10.

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