Dinara Kulibayeva's NNEF to Challenge KBTU Transfer to State

Kazakh-British Technical University (KBTU) was transferred to state ownership on March 4, now under the Returned Assets Management Company (RAMC). The NNEF public foundation, owned by Dinara Kulibayeva, responded to Orda.kz's inquiry about the situation.

NNEF confirmed that as of February 27, RAMC controls 100% of KBTU shares following a court decision. NNEF emphasized they had legally acquired the university in 2018 through an open tender for 12.1 billion tenge.

According to NNEF, they inherited KBTU in a poor state, with 2.7 billion tenge in losses, fewer than 1,900 students, and deteriorating infrastructure. Under their management, the university was transformed – student numbers grew to 7,600, educational programs increased from 16 to 68, and two new faculties were established.

NNEF invested over 11 billion tenge in infrastructure and another 7 billion for student social conditions, never taking profits as dividends. The university now holds top positions in national and international rankings and maintains partnerships with British universities and major companies, including Chevron and Schlumberger.

The foundation stated they are taking legal measures to challenge the court decision and restore their ownership rights to KBTU.

Original Author: Nikita Drobny