The united company Wildberries & Russ (RVB) has announced a strategic partnership with Ethiopia's largest investment holding company, Ethiopian Investment Holdings. The Agreement on Mutual Understanding and cooperation was signed in Moscow by Robert Mirzoyan, Chief Executive Officer of RVB, and Brooke Taye, CEO of EIH.
The document provides for joint work on localization of RVB products in the Ethiopian market, as well as partnership within the framework of investment and technological initiatives aimed at developing e-commerce and related infrastructure. The company considers Ethiopia as an entry point for further expansion of its presence in other markets of the African continent.
The partnership has become a logical continuation of the RVB's stated strategy for international development. The company has previously announced its intention to scale in Africa, including during the St. Petersburg International Economic Forum. According to RVB, the markets of Russia and Ethiopia have significant mutual export potential, and the integration of the digital platform can accelerate the development of local entrepreneurship and logistics services.
"The partnership with the Ethiopian investment holding is the first step for development in the promising African market. The release of RVB will allow us to bring the expertise of the international digital platform to the logistics infrastructure of the country, to give an impetus to the development of entrepreneurship and the advertising market," Robert Mirzoyan said.
He stressed that the company's international experience shows that launching a marketplace in a new country contributes to the formation of an entire ecosystem of services that affect both the domestic economy and the export potential of the partner state.
For its part, Ethiopian Investment Holdings considers cooperation with RVB as a tool for achieving long-term economic development goals. EIH has assets of over $150 billion under management, making it the largest sovereign wealth fund on the African continent. The Holding plays a key role in attracting investments in strategic sectors, including energy, logistics and biotechnology, as well as in the implementation of national Sustainable Development Goals.
"Wildberries & Russ' leadership in e-commerce, logistics technology, IT and digital promotion is consistent with Ethiopia's priorities. We look forward to cooperation based on joint expertise and mutual growth," said Brook Taye.
Market experts note that the agreement reflects a broader trend towards the convergence of digital platforms from the BRICS and African countries. For RVB, the partnership with EIH opens up access to institutional support and investment infrastructure, and for Ethiopia, the opportunity to accelerate the digitalization of trade and integration into international e—commerce chains.
