Givi Mikanadze Appointed as Minister of Education

The ruling comes under Article 349 of the Criminal Code, which penalizes non-cooperation with a parliamentary commission. The charge can lead to a fine, imprisonment of up to one year, or restriction of official or professional activity for up to three years.Gvaramia had been summoned to testify before the commission but did not appear. Although he was granted bail of 30,000 GEL, he failed to pay within the legal time frame, resulting in the bail being replaced with pre-trial detention and now a formal prison sentence. He was absent from the courtroom during the verdict and did not deliver a final statement.Gvaramia is the latest in a series of opposition politicians punished for refusing to appear before what is widely referred to as the Tsulukiani Commission. Others recently sentenced include:Mamuka Khazaradze (Strong Georgia) – 8 monthsBadri Japaridze (Strong Georgia) – 8 monthsNika Melia (Coalition for Change) – 8 monthsGiorgi Vashadze (Strategy Builder) – 7 monthsZurab Japaridze (Coalition for Change) – 7 monthsGivi Targamadze – 7 monthsIrakli Okruashvili (former Defense Minister) – arrested May 14; sentence pending These developments mark an escalation in legal action against key opposition leaders and have sparked renewed concerns over the political climate in Georgia.

1751364793

McIntyre has also received approval from the National Bank of Georgia to be appointed to the Supervisory Board of JSC Bank of Georgia with effect from 23 June 2025.Following Mr McIntyre's appointment as Chair of the Audit Committee, and in accordance with succession planning procedures, Mr Muir has stepped down from the Board of Directors of the Company as an independent Non-Executive Director, as Chair of the Audit Committee, and as a member of the Nomination Committee with effect from 26 June 2025."On behalf of the Board, I would like to thank Jonathan for his very considerable commitment and contributions to the Board and the Group over the years, particularly in his role as Chair of the Audit Committee. Jonathan leaves with our very best wishes. We are pleased to welcome Andrew as Chair of the Audit Committee with his broad international financial services experience which will continue to benefit the Audit Committee in achieving its ongoing objectives”, - Mel Carvill, Lion Finance Group PLC's Chair, commented.McIntyre is a seasoned financial expert with nearly three decades of experience at Ernst & Young, where he served as a Partner from 1988 to 2016, specializing in international financial services. He currently serves as Senior Independent Director at C. Hoare & Co. and as a Non-Executive Director at Lloyds Bank Corporate Markets PLC.His previous board roles include positions at the National Bank of Greece S.A., Ecclesiastical Insurance Group PLC, and the Centre for Economic Policy Research. McIntyre holds a Master’s degree in Medical Sciences and Music from the University of Cambridge and is a Chartered Accountant/Auditor.

1751364686

Lion Finance Group (BGEO LN) shares closed at GBP 69.95/share (+5.74% w/w and +4.25% m/m). More than 170k shares traded in the range of GBP 65.70 - 70.00/share. Average daily traded volume was 45k in the last 4 weeks. The volume of BGEO shares traded was at0.38% of its capitalization.TBC Bank Group (TBCG LN) closed the week at GBP 45.80/share (+3.74% w/w and -0.65% m/m). More than 237k shares changed hands in the range of GBP 43.85 - 45.80/share. Average daily traded volume was 60k in the last 4 weeks. The volume of TBCG shares traded was at 0.42% of its capitalization.Georgia Capital (CGEO LN) shares closed at GBP 19.00/share (+4.74% w/w and -1.25% m/m). More than 156k shares traded in the range of GBP 17.98 - 19.10/share. Average daily traded volume was 42k in the last 4 weeks. The volume of CGEO shares traded was at 0.40% of its capitalization.

1751285470

In May 2025, compared to the same period of the previous year, the estimated real growth in following activities contributed significantly: Information and communication, Manufacturing, Trade, Transportation and storage, Construction.Decline was registered in the Energy sector.

1751285364

TBC PLC agreed to acquire a majority stake in BILLZ for up to $12 million, including an initial 53% stake for $9 million with plans to increase it to 60% over the next two years, giving BILLZ a post-money valuation of $20 million. The partnership and planned investment will unlock additional catalysts for growth for both BILLZ and TBC Uzbekistan.Under the terms of the deal, BILLZ will continue to operate under its own brand, while becoming fully integrated into the TBC Uzbekistan ecosystem. The management and wider team at BILLZ will remain with the company, continuing to lead its product development and execution.TBC PLC has entered into a put/call arrangement for the remaining 40% of BILLZ, which can be exercised 36 months after the completion of this deal.BILLZ is an all-in-one retail management SaaS platform for SMEs, combining POS, inventory, CRM, e-commerce, and analytics to streamline operations and drive sales. It simplifies marketing, connects seamlessly to marketplaces and social shops, and helps retailers grow online. BILLZ currently supports over 4,000 retail businesses and processes more than 1.5 million transactions per month, making it one of the most widely used SaaS platforms in the region.BILLZ will enhance TBC Uzbekistan’s reach into the strategically important SME segment, providing immediate access to thousands of business customers and creating additional synergies within the ecosystem to drive average revenue per user, loyalty and stickiness. BILLZ users will in turn gain seamless access to banking and lending products provided by TBC UZ, Payme’s suite of digital payments services, as well as other products within the TBC Uzbekistan ecosystem.The strategic partnership agreement with BILLZ comes as TBC Uzbekistan continues to expand the product offering available within its digital banking ecosystem. It follows the recent launch of a new lending product for business customers, unveiled in April as part of the TBC Business offering for small and medium-sized enterprises, as well as the launches of Osmon credit card and Salom debit card last year. These products are already playing a key role in tapping new customer segments, diversifying revenue streams and driving growth of TBC’s digital banking ecosystem.Nika Kurdiani, CEO of TBC Uzbekistan, commented: “Since our 2019 expansion into Uzbekistan, TBC has played a leading role in the development of the country’s financial services and technology sectors. We have been a key strategic investor and builder, with our digital banking ecosystem setting a new standard for best-in-class digital products in a previously underserved market. We are pleased to be continuing this work through a strategic partnership with market leader BILLZ, reconfirming our ongoing commitment to supporting Uzbekistan’s vibrant startup community. We will continue to innovate and expand our offering as part of this partnership, which signals an important step change for the tech industry in Uzbekistan. We have noted with great admiration the work that Rustam and the founding team at BILLZ have done to transform the platform into one of the country's leading players in its space and are proud to welcome BILLZ into the TBC family. I am confident that this partnership will help to fuel the platform’s growth and development, as well as unlock additional synergies within our ecosystem that will further drive customer engagement, loyalty and revenue growth.”Rustam Khamdamov, CEO & Co-Founder of BILLZ, commented: “This partnership is a major milestone not only for BILLZ, but also for the broader startup ecosystem in Central Asia. Over the past few years, we’ve been focused on empowering thousands of retail entrepreneurs with modern tools to grow and digitize their businesses. Joining forces with TBC Uzbekistan gives us a powerful platform to scale our impact, offer more value to our customers, and accelerate our mission across the region. We’re proud of what our team has built and excited for this next chapter of growth together with TBC.”TBC Capital is acting as sole M&A advisory to TBC PLC in connection with the transaction. 

1751030219

In May 2025, according to data from TBC Bank’s payment channels, consumers increased their overall spendings and made more transactions compared to last year’s May.In the leisure sector, particularly in hotels, spending increased by 34%, which was mainly driven by non-residents’ increased spending. Non-residents’ average transaction in hotels was approximately 3 times higher compared to residents’ figure.In May 2025, there was a notable annual increase in non-cash spending in restaurants, while average spending marked GEL 34. During the same month, non-residents’ average transaction volume was approximately 5 times higher than the residents’ figure.Consumers spent 37% more on apparel and accessories in May 2025 compared to the previous year. 

1751030124

The verdict was announced just a short while ago. Givi Targamadze did not attend the court session.Givi Targamadze was summoned to appear before Parliament’s temporary investigative commission on April 3 but failed to show up.He was charged under Article 349 of the Criminal Code, which covers “failure to comply with the request of the Temporary Investigative Commission of the Georgian Parliament.”The Tbilisi City Court imposed a GEL 10,000 bail as a preventive measure in the case concerning Targamadze’s failure to appear before the investigative commission, which he paid within the legally stipulated timeframe.

1751029986

The volume of water provided to households amounted to 243.4 million cubic metres which is 5.1 percent higher compared to 2023 (231.5 cubic meters).As of December 31, 2024, the number of population connected to water supply industry amounted to 2.79 million (75.4 %) which is 1.5 percent higher compared to 2023 (2.75 million).In 2024, the number of population connected to a wastewater collecting system increased by 1% compared to the year prior (1.98 million) and amounted to 2.00 million (54.1 %), while the number of population connected to wastewater treatment facilities increased by 3.9 percent compared to previous year (1.52 million) and reached 1.58 million (42.7 % of total population).

1751029835