The issuer will use the raised funds for the construction of a logistics center in Tbilisi.Investor demand for the bonds exceeded the volume of securities.“This is the 8th transaction since 2016, 7 of which were carried out in cooperation with TBC Capital. This is also the 7th transaction for TBC Capital on the Georgian securities market this year: this year we participated in an issue of more than 300 million GEL. TBC Capital is the market leader with a 68% share,” - Otar Sharikadze, Director of TBC Capital said.

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GCAP today announces that the transaction has closed and the cash proceeds of USD 70.4 million have been fully received. The use of proceeds, in line with GCAP’s 360-degree capital management framework, will be announced together with Georgia Capital PLC’s 2Q25 and 1H25 results, currently scheduled for release on 6 August 2025.As a reminder, GCAP announced its full exit from Georgia Global Utilities back in December 2021, and in accordance with the terms of the deal concluded during the same period, the Spanish holding company Aqualia was also to buy out the remaining 20% stake in Georgia Global Utilities.

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Rustavi Azot has been part of Indorama Corporation – a global leader in fertiliser manufacturing – since 2023. It has an annual production capacity of 550,000 tonnes of ammonium nitrate and serves clients across the region. Rustavi Azot’s existing plant is Indorama Corporation’s first European production facility, with the Georgian firm representing a strategic platform for regional growth.The EBRD’s investment comes at a time when the resilience of regional food systems and global food security is a top priority. The modernisation of fertiliser production in Georgia will help to ensure a more stable, locally available supply of high-quality agricultural inputs. A significant part of the financing has been structured as a green loan consistent with the Green Loan Principles issued by the Loan Market Association, with proceeds allocated to eligible green projects.In addition to environmental gains, the project will also bring about benefits in the area of inclusive development. The company will establish an in-house academy to deliver training on market-relevant technical skills, with a focus on roles supporting the green transition.Frederic Lucenet, the EBRD’s Global Head of Manufacturing and Services, said: “The modernisation of Rustavi Azot aligns with our commitment to promote industrial decarbonisation in hard-to-abate sectors like fertiliser manufacturing in our regions. We are pleased to support our longstanding client Indorama’s strategic investment in Georgia.”Amit Lohia, Group Vice Chairman at Indorama Corporation, said: “We are grateful to the EBRD for their unwavering support and confidence, as reflected in this important green financing and the deepening of our growing partnership. This project will help Rustavi Azot to modernise its operations, accelerate decarbonisation and increase product diversification. We look forward to enhancing Rustavi Azot’s competitiveness with such continuing investment programmes.”To date, the EBRD has invested more than €5.52 billion in Georgia through 313 projects, supporting the development of the private sector, the modernisation of infrastructure and the transition to a green economy.

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In 1Q2025, large businesses generated 70.6 percent of total turnover, while medium size businesses generated 13.5 percent, and 15.9% was generated by small business.A distribution was different in case of total production value: 48.6% was on large businesses, 23.1% — on medium, and 28.3% — on small businesses.In 1Q2025, total purchases of goods and services carried out by enterprises equaled 28.8 billion GEL (year-on-year 11.9% more), while the purchase of goods and services for resale amounted to 17.2 billion GEL (year-on-year 7.9% more).In 1Q2025, the average number of persons employed in business sector equaled 771 thousand, which is year-on-year 2.9% more. Out of the total number of persons employed, 43.9% were female and 56.1% were male.Large businesses employed 43.7% of total number of persons, while 20.7% were employed by medium, and 35.5% — by small businesses.The total number of employees amounted to 718.9 thousands (year-on-year 2.2 percent more).The total personnel costs of enterprises equaled 4,7 billion GEL (year-on-year 11.9 percent more).In 1Q2025, average monthly remuneration of employed persons equaled 2 169.6 GEL(184.2 GEL increase year-on-year) while remuneration of employed women specifically was 1 711 GEL (152.3 GEL increase year-on-year). Average monthly remuneration of employed persons by size of enterprises is as follows:• Large business — 2,311 GEL• Medium business — 2,559 GEL• Small business — 1,675 GELIn 1Q2025, the arts, entertainment and recreation has the highest share (35.9%) in the total turnover in business sector, followed by trade sector (including repair of motor vehicles and motorcycles) with 32.7% share, manufacturing - with 7.1%, construction - with 5%, Information and communication – with 4.7%, transportation and storage - with 4.4%, and other sectors - with 10.2% share.In 1Q2025, manufacturing (18.1%), trade (17.1%), construction (15.1%), Information and communication (12.6%) and transportation and storage (9.1%) held the top five places in business sector by production value. The rest of the sectors had 28% share combined.In 1Q2025, trade (wholesale and retail trade, repair of motor vehicles and motorcycles), manufacturing, and human health and social work activities led business sector by number of employees (accordingly with 29.1%, 11.7% and 9.7% share).Enterprises engaged in transportation and storage (8%), construction activities (7.7%), information and communication (6.1%), and accommodation and food service activities (5.3%) also had a significant share though.

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“In order to effectively combat crop pests and diseases and, as a result, obtain a high-quality harvest, the National Food Agency calls on farmers not to purchase plant protection products in unorganized trade, to observe storage conditions and deadlines, as well as to take into account dosage and instructions for use,” the agency said in a statement.According to the body, within the framework of state control, special attention is paid to expiration dates, production, packaging, labeling, packaging, storage and sale conditions. The agency’s inspectors take and check samples of agrochemicals and pesticides in order to determine the quality of the preparations and their compliance with the legislation.In 2024, the agency carried out more than 720 state controls in specialized stores. Last year, 450 samples of pesticides and 50 samples of agrochemicals were collected and laboratory tested across the country. As a result of the controls, violations of labeling, packaging and wrapping rules, the sale of low-quality, expired and unregistered drugs, and activities without registration in the Register of Economic Activities and recognition as a business operator were identified. 123 business operators were fined for the identified violations.

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"We are proud to announce a very exciting partnership between Tskali Mtis • Water MTIS and one of the world's famous football clubs PSG - Paris Saint-Germain.Tskali Mtis has become the official regional partner of Paris Saint-Germain," Nana Janjgava wrote.According to Temur Chkonia, owner of Coca-Cola Bottlers Georgia and McDonald's Georgia, this collaboration will offer consumers not only a premium drink, but also their own vision and support the development of sports and culture among young people.“We are delighted to sign a partnership between “MTIS” and “Paris Saint-Germain”. This collaboration will help us offer consumers not only a premium drink, but will also highlight our vision, now at the international level, to support sports, cultural development of young people, and innovations,” said Temur Chkonia.Water MTIS is a natural, mineral water, which is produced by the Coca-Cola Bottlers Georgia company.

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According to the EU Delegation, the findings were derived from responses by up to 200 European companies operating in Georgia and it shows that businesses are facing challenges that could hinder long-term economic stability.“Georgia’s Business Landscape: Economic Growth Faces Political, Workforce and Structural Barriers Despite continued economic growth in 2023 and early 2024, businesses in Georgia are facing number of challenges, primarily driven by political uncertainty and workforce shortages, according to the newly released EU Business Climate Report Georgia 2024. The survey, conducted among up to 200 companies with European links, highlights concerns that could hinder long-term economic stability.Key Challenges Facing Businesses in GeorgiaThe report underscores three critical obstacles affecting businesses: Political Instability: The stalled EU accession process since June 2024, coupled with upcoming parliamentary elections, has impacted business environment –76.7 % of companies cite instability as a major concern Workforce Deficit & Skills Gap: Nearly half of surveyed companies report skills shortages leading to 5-40% underperformance, with an estimated annual GDP loss of 26%. Exchange Rate Fluctuations: Currency instability continues to challenge businesses in financial planning and investment decisions. Additionally, concerns over corruption and regulatory inefficiencies have been raised by businesses, particularly in relation to tax policies, public procurement, and the judicial system, further complicating the investment climate.One of the most important findings is the severe shortage of skilled labor, which has led to an annual income loss of 55.6 billion GEL across businesses. High emigration and mismatched education programs further worsen this issue. Despite its cost, investing in internal workforce training has shown a positive return for businesses proving that workforce development is a key driver of resilience.Impact of Workforce Shortage: GDP loss: -26% annually Value added shortfall: -21.2B GEL Unrealized business income: -55.6B GEL Meanwhile, while the EU remains Georgia’s largest trade partner, exports to the EU fell by 18% in 2023(Geostat figures), primarily due to: High compliance costs for EU standards Lack of accredited laboratories for European certification Limited understanding of regulatory frameworks among businesses Additionally, SMEs, despite showing growth, still struggle with low economic contribution, and their access to EU markets remains challenging.The report calls for accelerated judicial and education reforms to enhance business confidence. Education institutions must work closely with the private sector to align skills development programs with market needs. Meanwhile, improving economic policies and trade infrastructure will be crucial to sustaining Georgia’s EU market integration efforts.In conclusion, the findings of the EU Business Climate Report Georgia 2024 paint a complex picture. While economic growth continues, it is overshadowed by political uncertainties, workforce shortages, and trade barriers. To maintain momentum, Georgia must address these structural issues—particularly workforce development—to secure long-term stability and EU market access,” notes the information by the European Union Delegation to Georgia.

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The increase was observed in the production value of the business sector as well. In 4Q2024, production value equaled 23.5 billion GEL, which is 10.8% more year-on-yea.In 4Q2024, large businesses generated 67.6% of total turnover, while medium-sized businesses generated 14.9%, and 17.5% was generated by small businesses.A distribution was slightly different in case of total production value: 43.8% was on large businesses, 25.1% - on medium, and 31.1% - on small businesses.In 4Q2024, total purchases of goods and services carried out by enterprises equaled 33.2 billion GEL (year-on-year 8.6 percent more), while the purchase of goods and services for resale amounted to 18.8 billion GEL (year-on-year 0.6 percent less).In 4Q2024, the average number of persons employed in business sector equaled 811.8 thousand, which is year-on-year 3.8% more. Out of the total number of persons employed, 43.7% were female and 56.3% were male.Large businesses employed 41.7 percent of total number of persons, while 21.5 percent were employed by medium, and 36.9 percent - by small businesses.The total number of employees amounted to 764.2 thousands (year-on-year 3.0 percent more).The total personnel costs of enterprises equaled 5 536.6 million GEL (year-on-year 10.9 percent more). In 4Q2024, average monthly remuneration of employed persons equaled 2 367 GEL (170.8 GEL increase year-on-year) while remuneration of employed women specifically was 1 847 GEL (159.7 GEL increase year-on-year). Average monthly remuneration of employed persons by size of enterprises is as follows:⦁ Large business - 2 466 GEL⦁ Medium business - 2 750 GEL⦁ Small business - 1 969 GELIn 4Q2024, construction (20.5 percent), trade (18.6 percent), manufacturing (17.6 percent) and transportation and storage (9.5 percent) held the top four places in business sector by production value. Rest of sectors had 33.8 percent share.In 4Q2024, trade (wholesale and retail trade, repair of motor vehicles and motorcycles), manufacturing, and human health and social work activities led business sector by number of employees (accordingly with 28.5 percent, 11.3 percent and 9.2 percent share).However, enterprises engaged in construction activities (8.6 percent), transportation and storage (8.2 percent), information and communication (6.2 percent), and accommodation and food service activities (5.3 percent) had also a significant share.

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According to the document, as expected, branded retail chains grew at a higher rate than other formats. Branded retail chains revenues increased by 14.9% y/y to GEL 9.2bn, while other formats grew by 1.9% y/y to GEL 13.5bn in 2024 . As a result, the share of branded chains increased from 37.6% to 40.4% over 2023-24.The growth in branded chain revenue was mainly driven by geographic expansion. In 2024, c. 500 new stores were opened by branded retail chain companies, out of which c.350 were in regions, the rest in Tbilisi. As a result, number of stores in Tbilisi and regions became equal. Revenues of branded retail chains in the regions increased by 23.6% y/y, and in Tbilisi by 9.3% y/y resulting in slight decrease in Tbilisi’s share in total branded retail chains revenue from 58.9% in 2023 to 57.8% in 2024. G&T expects the high rate of expansion in the regions to continue in the future. According to our estimates, the most attractive regions for expansion are Adjara and Kvemo Kartli, and among the districts of Tbilisi, Saburtalo, Gldani, and Samgori.Daily Group has emerged as the new market leader, capturing a 27.5% share of the branded retail chains market and a 11.0% share of the total FMCG market. In 2024, several companies merged to form Daily Group Holding, including Foodmart Ltd (with brands Spar, Ioli, and Kalata), Daily Ltd, Gvirila Retail Ltd (brand name Gvirila), and Retail Group Ltd (Magniti). As a result, Daily Group now owns over 1,600 stores out of a total of 4,000. In 2024, Daily Group led the market with a 27.6% share of branded retail chains revenue, followed by 2-Nabiji with 17.0% and Nikora with 16.4%. The top 5 companies jointly accounted for 74.9% of the branded retail chains revenue, while the remaining 25.1% came from about 40 smaller retail chain companies. The share distribution is different in Tbilisi and the regions."We expect FMCG sector revenue to grow at an average rate of 8.0% over 2025-28, primarily driven by increased disposable income and purchasing power. Branded retail chains will continue to expand at a faster pace than other formats, supported by geographic expansion, assortment and format diversification, and other strategic developments. We forecast an average annual growth rate of 15.0% for branded retail chains over 2025-28 (compared to 23.3% growth over 2021-24), which will result in their market share increasing from 40.4% in 2025 to 52.0% by 2028", - the document reads.

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Here is the school community's translated statement in full:"We, the members of the BGA (British-Georgian Academy) school community, would like to express our displeasure regarding the sudden announcement of the dismissal of our founder and director – Mrs. Natia Janashia.We would like to emphasize that we work at the British-Georgian Academy precisely because we believe in the values of the Academy, which prioritize the best interests of the students over financial gain.Mrs. Natia, as the founder of this school, has established one of the country's leading and most successful educational institution. Her vision and goals for education are fully aligned with the principles that, in our deep belief, education should uphold.We would also like to express our concern regarding the process of appointing a new director, which was not conducted in consultation with the key members of the school community and was not carried out under conditions of transparency and fairness. Mr. Johan Van Lill has not gone through any of the selection stages required by the international standards (such as interviews with staff, teachers, students, and parents).For many years, the British-Georgian Academy has upheld international standards for staff selection and followed protocols designed primarily to ensure the safety and well-being of our students.We feel that we are on the verge of losing our director, with whom we have worked closely and meaningfully over the years.We, the teachers and other staff members of the Academy, are extremely disappointed by the expected changes and strongly express our wish to keep Mrs. Natia in her position as the school director," – the joint statement of the British-Georgian Academy staff reads. 

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