A Memorandum of Understanding (MoU) was signed in Moscow by Robert Mirzoyan, Chief Executive Officer of the united company Wildberries & Russ, and EIH Chief Executive Officer Brook Taye.
The agreement provides for joint work on adapting Wildberries' products to the Ethiopian market, as well as collaboration and mutual support in investment and technological initiatives aimed at fostering the growth of Ethiopia's e-commerce sector and related infrastructure. In the near future, Wildberries plans to enter the markets of Ethiopia and of other African countries.
Ethiopian Investment Holdings, the largest sovereign wealth fund in Africa, manages assets exceeding USD 150 billion. The fund plays a key role in advancing Ethiopia's Sustainable Development Goals (SDGs) by channeling investments into vital sectors such as energy, logistics, and life sciences. The signing of this agreement paves the way for long-term, mutually beneficial cooperation between Wildberries and partners in Ethiopia and across the African continent.
"Wildberries & Russ earlier announced its intention to expand to the African continent at the St. Petersburg International Economic Forum. In that regard, our partnership with Ethiopian Investment Holdings is the first step towards our development on the promising African market. The Russian and Ethiopian markets are highly attractive for manufacturers from both countries and hold significant export potential. Wildberries' entry into the market will bring the expertise of an international digital platform to the service of the country's logistics infrastructure and offer an impetus for the development of local entrepreneurship and the advertising sector. Our international experience shows that the launch of our digital platform in a new country brings with it a variety of services, which enable a qualitative leap both in terms of the domestic economy and the partner country's entry into global export markets," said Robert Mirzoyan, CEO of Wildberries & Russ.
"Today's signing marks an important milestone in advancing Ethiopia's strategic investment and diversification agenda. EIH is committed to fostering partnerships that drive innovation, enhance technological capacity, and create sustainable value across key sectors. Wildberries' leadership in e-commerce, logistics technologies, IT, and digital promotion aligns closely with Ethiopia's priorities, and we look forward to a productive collaboration built on shared expertise and mutual growth," added EIH Chief Executive Officer Brook Taye.
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About Wildberries
Established in 2004 in Russia, Wildberries is a leading digital platform operating in Armenia, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan, while also partnering with sellers in China and the UAE. Wildberries provides a state-of-the-art IT infrastructure to support customers and sellers, along with a developed logistics network spanning more than 135 facilities and more than 90,000 pickup points across its markets. As of 2025, Wildberries serves over 79 million customers.
About Ethiopian Investment Holdings (EIH)
Ethiopian Investment Holdings (EIH) is the sovereign wealth fund and strategic investment arm of the Government of Ethiopia, serving as the manager of a diversified portfolio of state-owned enterprises with the mission of driving national economic transformation. Established in 2014, EIH oversees key assets across finance, infrastructure, energy, logistics, industry, and agriculture, working to enhance the efficiency of state-owned assets and attract both domestic and international investment. EIH currently manages around 30 enterprises, including some of the country's most prominent companies such as Ethiopian Airlines, Ethio Telecom, the Development Bank of Ethiopia, and the Ethiopian Shipping and Logistics Services Enterprise (ESLSE).
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