Kaspi.kz Eyes Humo Acquisition for Central Asian Expansion

Kaspi.kz (KSPI), the fintech giant from Kazakhstan, aims to participate in the privatization of Humo, a leading payment system in Uzbekistan. This move aligns with the company's strategy to expand across Central Asia, fortifying its regional position.

The acquisition would mark Kaspi.kz's first significant venture into the Uzbek market, increasingly appealing to global investors due to economic reforms and a growing consumer base. With a robust digital ecosystem in Kazakhstan, Kaspi.kz is poised to leverage its technology and customer-centric approach in Uzbekistan.

Paulius Stankevicius, CEO of Stankevicius Alternative Investment Banking, noted that Kaspi.kz's interest in Humo signals confidence in the region's economic potential. Similarly, Sean Chin MQ from Olritz Financial Group views this as a notable milestone that could spur further investments.

Mikhail Lomtadze, CEO of Kaspi.kz, emphasized Uzbekistan's growth potential, stating that privatizing Humo offers an opportunity to replicate their Kazakh success. Analysts believe this expansion could catalyze further consolidation in the region’s financial sector.

The move may also heighten competition among fintech firms as Uzbekistan continues its digital transformation. By acquiring Humo, Kaspi.kz could accelerate the country's financial ecosystem development, offering innovative services to consumers.