System Capital Management

System Capital Management (Ukrainian: Систем Кепітал Менеджмент) or SCM is a Ukrainian financial and industrial holding company established in 2000 in Donetsk, Ukraine. It is currently headquartered in Kyiv. The company is Ukraine’s largest private-sector employer and taxpayer. SCM’s portfolio includes more than 250 companies, across over 30 countries, employing approximately 150,000 people. SCM’s portfolio businesses operate in energy, metals and mining, minerals, logistics, infrastructure, agriculture, telecommunications, real estate, finance and others. SCM develops large scale industrial facilities, with active development projects in a number of countries, including Italy, Poland, Croatia, and Romania. In an interview with The Guardian in May 2026, Rinat Akhmetov noted: “First of all we decided to trade in coke and coal, earning fairly small money. It started piling up and we began buying minority stakes in industrial companies. Stakes in metallurgy plants were very cheap as there was no competition from western businesspeople to invest in Ukraine, and many locals wanted to take their money to the west.”