Freedom Holding: A Gateway to Emerging Markets Through CEE's Undervalued Infrastructure and Energy Sectors

Central and Eastern Europe (CEE) is undergoing a profound transformation in its infrastructure and energy sectors, driven by geopolitical imperatives, EU funding, and the urgent need for energy security and sustainability. As the war in Ukraine reshapes regional priorities, CEE has emerged as a critical hub for cross-border investments in transport, digital infrastructure, and renewable energy. For investors, this represents a unique opportunity to capitalize on undervalued assets in a region poised for long-term growth. At the heart of this dynamic landscape is Freedom Holding Corp., a Kazakh-based financial and technology conglomerate that is leveraging its digital ecosystem to position itself as a strategic gateway to emerging markets.

The CEE Infrastructure and Energy Renaissance

The CEE region's infrastructure and energy sectors are being redefined by a confluence of factors. Geopolitical tensions have accelerated the modernization of transport corridors, with projects like Poland's Central Communication Port-a 31-billion-euro initiative integrating air, rail, and road connectivity-symbolizing the region's ambition to become a logistics hub2025: the year of infrastructure investment in Central and Eastern Europe^[1]. Similarly, the Rail Baltica project, a 10-billion-euro rail link connecting Poland, Lithuania, Latvia, and Estonia, underscores the EU's commitment to enhancing regional integrationEMIS CEE Infrastructure Sector Report 2025-26^[2].

Energy security has also become a top priority. The EU's target of 42.5% renewable energy consumption by 2030 has spurred rapid growth in solar and wind capacity. Poland, for instance, increased its solar energy capacity by 37% in the first half of 2024, while Hungary saw a 49% surge2025: the year of infrastructure investment in Central and Eastern Europe^[3]. These developments are supported by institutional frameworks such as the Three Seas Initiative Investment Fund (3SIIF), which has already committed 850 million euros to energy and digital infrastructure projectsThree Seas Initiative Investment Fund (3SIIF)^[4].

Freedom Holding's Strategic Positioning

While Freedom Holding is not directly involved in CEE's energy projects, its investments in digital infrastructure and telecoms align with the region's broader transformation. The company has transitioned from a traditional financial services provider to a digital ecosystem builder, with a focus on creating a self-sufficient infrastructure backbone. By acquiring Astel Group, one of Kazakhstan's largest telecom operators, Freedom Holding has established its own network infrastructure, including 1,200 kilometers of fiber-optic cable and 976 public Wi-Fi hotspotsFrom Brokerage to Cloud Powerhouse: Freedom Holding Corp's Digital Revolution^[5]. This move is part of a broader strategy to reduce reliance on foreign hyperscalers and ensure data sovereignty, a critical consideration in markets with stringent data residency laws.

The company's Freedom Cloud initiative, a network of state-of-the-art data centers, is particularly noteworthy. Designed to deliver Infrastructure as a Service (IaaS) and Platform as a Service (PaaS), it caters to high-load computing, AI, and blockchain applicationsFreedom Holding Corp.: When a Fintech Starts Thinking Like a Country^[6]. By partnering with Amazon Web Services (AWS), Freedom Holding offers hybrid cloud solutions that allow businesses to leverage AWS tools while anchoring operations in locally compliant data centers. This model is highly relevant to CEE, where demand for secure, low-latency computing is rising alongside digitalization efforts.

A Gateway to Emerging Markets

Freedom Holding's strategic use of Cyprus as a European hub further solidifies its role as a bridge between emerging and developed markets. The company's subsidiary, Freedom24, provides access to over one million financial instruments globally, including major U.S. stock exchanges and emerging marketsCyprus is our gateway to global markets, says Freedom Holding's CEO^[8]. This positioning allows Freedom Holding to tap into CEE's growing appetite for international investment while offering emerging market clients access to global financial systems.

The company's expansion into Turkey and Tajikistan also highlights its ambition to develop financial infrastructure in underserved regionsHow Freedom Holding Corp is Expanding Across Global Markets^[9]. In CEE, where Freedom Holding generates 71% of its revenue, the company's diversified ecosystem-spanning brokerage, banking, insurance, and technology-addresses the unique needs of markets with fragmented financial services. For instance, its Freedom SuperApp, with over one million monthly active users, integrates banking, insurance, and lifestyle services, reflecting a deep understanding of regional consumer behaviorFreedom Holding Corp. Reports Fiscal Year 2025 Financial Results^[10].

The Investment Case

For investors, Freedom Holding's strategy offers exposure to two high-conviction themes: digital infrastructure and emerging market financial services. The company's $230 million investment in IT infrastructure in 2025, with plans to invest up to $1 billion over the next three to four years, underscores its commitment to building a scalable digital backboneFrom Brokerage to Cloud Powerhouse: Freedom Holding Corp's Digital Revolution^[11]. This aligns with CEE's infrastructure needs, where digitalization is a key driver of economic resilience.

Moreover, the company's focus on telecom and cloud infrastructure positions it to benefit from the region's AI-driven growth. As data center demand surges-driven by the need for computing power and storage-Freedom Holding's hybrid cloud model offers a compelling value proposition. According to CBRE's Infrastructure Quarterly, unlisted infrastructure indices have demonstrated resilience in 2025, with stable returns across all time framesInfrastructure Quarterly: Q1 2025 | CBRE Investment^[12]. This trend is likely to continue as CEE's infrastructure and energy sectors mature.

Conclusion

Freedom Holding Corp. is not merely a participant in CEE's infrastructure and energy renaissance-it is a catalyst. By building a digital ecosystem that bridges emerging and developed markets, the company is addressing the region's most pressing challenges while creating long-term value for investors. As CEE continues to attract global capital, Freedom Holding's strategic investments in telecom, cloud computing, and financial services position it as a critical player in the region's transformation. For those seeking exposure to undervalued infrastructure and energy opportunities in CEE, Freedom Holding offers a compelling gateway.