04/10/2025
How Nurbank helps women entrepreneurs expand their businesses.
Women's entrepreneurship is one way for many women to achieve self-realization. By developing their businesses, women align with their abilities and ambitions, socialize, boost self-esteem, and improve their financial standing. Traditionally, banks' credit products aid business growth. Commercial banks offer special financing programs for women's entrepreneurship.
“Women play a significant role in the economic development of our country. Today, their contribution to the GDP is 40%, and I am confident this figure will grow.”
Chairwoman of the Management Board of JSC “Nurbank” Gulnara Musataeva
At Nurbank, women entrepreneurs account for 46.66% of the SME credit portfolio, with 45.94% of concluded loan agreements in the SME segment. Out of 11,482 individual entrepreneurs served at Nurbank, 4,466 are women entrepreneurs—approximately 39%. Currently, Nurbank actively finances women engaged in small and medium-sized businesses, expanding the geography of lending. Notably, many loans are issued for business development in the SME sector. For banks, women entrepreneurs are attractive clients, being more responsible and pragmatic in financial matters, striving to avoid high risks in business development.
Nurbank notes that the average age of female business borrowers is 46 years, indicating a conscious choice of entrepreneurial path, and the average loan size is approximately 33.8 million tenge.
“Mostly, women use classic banking products and services: deposits, loans, IE accounts, and card accounts. Aspiring businesswomen take loans to open kindergartens, beauty salons, organize the production of semi-finished products, tailoring, printing, culinary businesses, etc. The majority of loan applications come from large commercial cities such as Almaty, Shymkent, Astana. These cities are where women's entrepreneurship is actively developing,” Nurbank's press service reports.
Brighter than any statistics, the positive collaboration between Nurbank and women entrepreneurs is confirmed by success stories. For instance, the founder of NURBERGEN Health Resort Aina Baemirova shares that the sanatorium opened a credit line at Nurbank in 2022. The loan interest was subsidized by the “Damu” fund. The healthcare facility is located 45 km from Uralsk, in one of the most picturesque corners of the Ural River. The sanatorium offers comprehensive restorative treatments including paraffin-ozokerite treatments, physiotherapy, and massages based on the healing properties of mineral waters and therapeutic mud.
“The development of the sanatorium is our family business, which I inherited from my father.”
Aina Baemirova
The loan was taken to expand the business, including building a hotel and carrying out renovations. According to Aina Baemirova, the demand for the sanatorium's services is growing rapidly.
“Thanks to cooperation with Nurbank and joint efforts, today our sanatorium ranks 8th in Kazakhstan and 1st in the West Kazakhstan region in terms of room amenities, comfort, service variety, and favorable rates.”
Aina Baemirova
An individual entrepreneur from Shymkent, Meruert Turarova, is engaged in construction equipment. Construction rates in Shymkent are growing rapidly, increasing the demand for construction equipment. Seven years ago, in this seemingly “non-feminine” field, the entrepreneur saw business potential. Today, her business is related to leasing construction equipment.
“In 2022, I approached Nurbank for financing to purchase a telescopic loader and a telescopic excavator. I am satisfied with the cooperation with the bank. My plans are tied to expanding the fleet; I plan to seek financing from Nurbank again.”
Meruert Turarova
An individual entrepreneur from Astana, Madina Dzhaparova, shares that she loved cooking since childhood and dreamed of doing business.
“It was logical for me to choose cooking and food delivery. I started my business in 2018 by renting a small boutique in a shopping mall where I sold confectionery. Due to quarantine, the mall was closed, the boutique stood idle, and soon I had to close the business. That's when the idea to engage in semi-finished products emerged. Later, ‘hot combos’ and then ‘tea sets and pastries’ were added to the main menu. Thus, the company gradually grew into its own production and ready-to-eat meal delivery service.”
Madina Dzhaparova shares her success story
In the summer of 2024, she made a new leap in business development—thanks to a Nurbank loan and the Damu foundation program, she acquired new premises and modern equipment to open her own confectionery shop. The loan amount was 87 million tenge.
“We constantly work on expanding our range; our combo-sets help hosts set a rich and delicious table without extra hassle.”
Madina Dzhaparova
An entrepreneur from Taldykorgan, Madina Nogaybekova, is developing the restaurant business in the city.
“Restaurant MARMAR is the ideal place for corporate events, weddings, and toi celebrations. Visitors appreciate it for its exquisite interior, diverse menu, spacious hall for 400 guests, and quality sound and video equipment. Thanks to a Nurbank loan, I managed to make my dream come true and acquire the restaurant.”
Madina Nogaybekova
As evident, supporting women's entrepreneurship is one of the priority areas of Nurbank's operations. The bank strives to meet client demand, making credit products for women entrepreneurs more flexible and convenient. The bank launched the ‘Business Hanym’ program, aimed at financing women-led businesses. Loans are provided for working capital replenishment and investment purposes, with a loan amount up to 100 million tenge.
“We are confident that access to financial resources will allow women entrepreneurs to boldly scale their projects, strengthen their businesses, and create new jobs across the country.”
Gulnara Musataeva
Lending to women's businesses can be considered one of the key areas of development for commercial banks, and Nurbank holds a strong position in this regard.
Source: https://dknews.kz/en/business/356911-womens-entrepreneurship-in-kazakhstan-role-and