Mamuka Khazaradze (Georgian: მამუკა ხაზარაძე; born 29 December 1966) is a Georgian politician and entreprenuer. He is the Chairman of Lelo for Georgia, a centrist political party, full member of the ALDE Party in the European Union. Khazaradze co-founded the largest Georgian universal bank,[1] JSC TBC Bank in 1992.[2] He entered politics in 2019, becoming a Member of the Parliament of Georgia in the 2020 parliamentary elections.[3]
Mamuka Khazaradze | |
|---|---|
მამუკა ხაზარაძე | |
 Khazaradze in 2013 | |
| Leader of Lelo for Georgia | |
| Assumed office 22 December 2019 | |
| Preceded by | position established |
| Member of the Parliament of Georgia | |
| In office 11 December 2020 – 16 November 2021 | |
| Personal details | |
| Born | 29 December 1966 Tbilisi, Georgia |
| Political party | Lelo for Georgia |
| Alma mater | Georgian Technical University Harvard Business School |
| Profession | businessman |
Early life and education
editHe graduated from Tbilisi Technical University in 1988 and also holds an executive degree from Harvard Business School, where he studied during 1998–2000.[4] In 2014, Khazaradze was awarded EY Entrepreneur of the Year in Georgia – the first such award to a Georgian business.[5]
He was awarded the Presidential Order of Excellence in 2010.[6]
TBC Bank Group PLC and JSC TBC Bank
editJSC TBC Bank completed its London Stock Exchange IPO in June 2014, raising US$256 million and listing 40% of the Bank's shares.[7] The IPO valued the Bank at US$640 million.[8] The Bank listed its UK-incorporated holding parent company, TBC Bank Group PLC on the Premium Segment of the London Stock Exchange in 2016[9] and joined the FTSE 250 index in 2017.[10]
Other Ventures and Projects
editLelo for Georgia
editIn December 2019, Khazaradze together with other prominent Georgian politicians set up Lelo for Georgia that obtained four seats in the 2020 parliamentary elections and, along with a group of independent MPs created the first opposition faction in the 2020 Parliament.[11]
Anaklia Port
editAnaklia Port is a project to build a deep-sea port in Western Georgia, to accommodate very large vessels – the first of its kind in the region.[12] According to the research published by NATO Research Division, Georgia's strategic geographic location gives is vast potential to act as a key transit country facilitating high volumes of international trade between Europe and Asia.[13]
IDS Borjomi International
editIDS Borjomi was founded in 1995 by Mamuka Khazaradze and his business partners, building on the Borjomi mineral waters brand that was well known throughout the Soviet Union.[14] IDS Borjomi Georgia now exports to over 40 countries worldwide.[15]
Guivy Zaldastanishvili American Academy in Tbilisi (GZAAT)
editGZAAT is one of the first, private high-school providing Georgian students with world-class education co-founded in 2001 by Guivy Zaldastanishvili, with support from Mamuka Khazaradze and other Georgian entrepreneurs. In 2022 the school invited Keynote Speaker, Humanitarian, and TV and film producer Joy Ngoma, and the granddaughter of Archbishop Desmond Tutu [16] Mamuka Khazaradze currently serves on the Board of Trustee of GZAAT.[17]
Chateau Mukhrani
editChateau Mukhrani is an old royal Georgian winery that first exported Georgian wines 130 years ago. The modern company, Chateau Mukhrani was founded in 2002 by Mamuka Khazaradze and Badri Japaridze and their business partners.[18]
Trial
editA criminal charge was filed against Khazaradze and his business partner, alleging that they were involved in money-laundering, after he announced formation of Lelo for Georgia political movement. It was deemed as an attack on political pluralism in Georgia.[19] In 2022, the Tbilisi City Court found Mamuka Khazaradze, Badri Japaridze and Avtandil Tsereteli – initially charged with money-laundering – guilty of fraud and sentenced them to seven years of prison. However, they were not subject to imprisonment as the statute of limitations had already expired by the time of the ruling.[20]
Independent international expert, Pauline David, selected in open competition by Transparency International Georgia, concluded that there was ‘no basis to prove TBC Bank founders Khazaradze, Japaridze committed money laundering’ [21]
The court's decision was deemed as unconstitutional by Georgia's top lawyers, since the prosecution service had never investigated fraud and no due process had been upheld in that regard. Therefore, the court intervened in the functions of the prosecution service by re-qualifying the charge to fraud.[22]
The US Department of State, ALDE Party, Amnesty International, majority of reputable Georgian NGOs all observed the existence of a possible political motivation behind the trial. As the US State Department's 2020 Country Reports on Human Rights Practices observed: "In a March 2019 interview with Imedi TV, Georgian Dream party chair Bidzina Ivanishvili accused Khazaradze of directing an assault against the government. July 2019 charges by the Prosecutor General’s Office came just weeks after Khazaradze’s announcement of his intent to establish a civil movement."[23]
The ALDE Party in the European Union noted in its urgency resolution that the court case, and the interim ruling, was "a clear instance of politicised justice"[24]
In 2023, the case was dismissed by the Supreme Court of Georgia, effectively ending the process in Georgia. However, Khazaradze has pledged to transfer the case to the European Court of Human Rights in Strassbourg to seek truth.
References
edit- ^ "TBC Bank Group PLC official Investor Relations website". tbcbankgroup.com. Retrieved 12 August 2019.
- ^ "Georgia's TBC Bank Places Premium Shares on London Stock Exchange". Georgia Today. Retrieved 17 March 2019.
- ^ Dumbadze, Ana (1 November 2019). "12 More Members of Lelo Movement Announced". Georgia Today. Retrieved 30 January 2020.
- ^ "Investor.ge". investor.ge. Retrieved 12 August 2019.
- ^ "Georgia Today". Retrieved 12 August 2019.
- ^ "State Awards Issued by Georgian Presidents in 2003–2015". Institute for Development of Freedom of Information. Retrieved 17 March 2019.
- ^ "London Stock Exchange News". London Stock Exchange. Retrieved 12 August 2019.
- ^ "TBC Bank Group PLC Investor Relations Website". Retrieved 12 August 2019.
- ^ "TBC Bank Group PLC Investor Relations website". Retrieved 12 August 2019.
- ^ "TBC Bank Group PLC Investor Relations Website". Retrieved 12 August 2019.
- ^ "Lelo Forms New Faction in Parliament". georgiatoday.ge. 13 May 2021. Retrieved 26 November 2023.
- ^ "About | Anaklia". anakliadevelopment.com. Retrieved 12 August 2019.
- ^ "NDC – News". www.ndc.nato.int. Retrieved 12 August 2019.
- ^ Kuemmerle, Walter; Ellis, Chad. "Georgian Glass and Mineral Water". hbr.org. Retrieved 12 August 2019.
- ^ "The water of the BORJOMI valley". www.borjomi.com. Retrieved 12 August 2019.
- ^ "School History". www.gzaat.org. Retrieved 12 August 2019.
- ^ "Governance". www.gzaat.org. Retrieved 12 August 2019.
- ^ "About us". chateaumukhrani.com. Retrieved 12 August 2019.
- ^ "Georgia: Freedom in the World 2020 Country Report".
- ^ "Court of Appeals upholds fraud verdict against founders of TBC Bank, Lelo party".
- ^ "Assessment of Money Laundering Prosecution of Mamuka Khazaradze, Badri Japaridze and Avtandil Tsereteli".
- ^ "The Court's Verdict Unconstitutional, Say Georgian Lawyers".
- ^ "2020 Country Reports on Human Rights Practices: Georgia".
- ^ "ALDE Bratislava Resolution 2022".