AkOrda Capital plans to increase the export volume by 10 times with the assistance of KazakhExport
AkOrda Capital, one of the largest producers of horticultural and sausage products in Kazakhstan, has expanded its production facilities and replenished its working capital with the assistance of the National Company KazakhExport. Now the enterprise plans to increase a volume of exports by 10 times.
EIC “KazakhExport” JSC provided AkOrda Capital with a “Loan Insurance” tool, which insures risks of non-repayment of accounts receivable. According to Roman Gussamov, the Company’s General Director, the support tool was aimed at purchasing the factory building and replenishing the working capital.
Our company supplies vegetables, fruits and sausage products to Russia, and we plan to increase a volume of deliveries twice in 2017 and 10 times as much in 2018”, - said Roman Gussamov.
The Ak Orda Capital Group of Companies produces sausage products under the Tulpar trademark, and distributes canned fruits and vegetables as well. It has a developed network of cookery and branded outlet chains.
The KazakhExport’s team is focused on the result, and in addition to financial support, the Company’s management organizes meetings with potential buyers and promotes our goods outside of Kazakhstan, and we are very grateful to them for that”, - says the Chief Executive of AkOrda Capital.
We remind that one of the tools to support domestic exporters from KazakhExport – the “Loan Insurance” grants protection to a financial institution from the risk of a failure to perform financial obligations under a contract. First, a Kazakhstan exporter and a foreign company shall enter into an export contract for delivery of Kazakhstan goods or services, thereafter the exporter shall apply for a loan to a bank so as to perform its obligations under the export contract and to KazakhExport for the conclusion of a loan insurance contract, while the KazakhExport’s insurance protection should be accepted by the financial institution as collateral and a loan will be granted to the exporter.
The exporter shall perform its obligations under the export contract and shall return the funds to the bank in accordance with the loan agreement. In case of breach of financial obligations by the exporter, KazakhExport shall compensate for losses sustained by the financial institution.