As Spot previously reported, shareholders of Uzbekistan’s national postal operator O’zbekiston pochtasi (UzPost) rejected a proposed 100 billion soum loan from Wildberries. The funds were to be borrowed at the Central Bank’s refinancing rate.
UzPost’s press service told Spot that the proposed borrowing was included in the agenda of the shareholders' meeting held on September 21. The loan was to be provided by WB INT EXPORT LLC, a subsidiary of Wildberries LLC.
According to the company, the funds were intended to upgrade UzPost’s material and technical infrastructure, including the purchase of vehicles, computers and office equipment, expand the postal network, and modernize buildings and facilities.
Wildberries' press service also commented to Spot on the appointment of its representatives to UzPost’s new supervisory board. The previous board’s powers were terminated early.
“Representatives of Wildberries have joined the supervisory board of Uzbekistan’s postal service to modernize the postal operator and improve the quality and speed of its services. The participation of representatives of one of the largest marketplaces on the supervisory board will have a positive impact on the development of e-commerce in the country. The postal service will continue operating as usual while gaining new opportunities for growth through investment and technological support”, the company said.
The new board includes Akmal Primkulov, CEO of WB INT EXPORT LLC; Evgeny Mitin, Director of the Investment and Control Department at RVB LLC; Emil Khasyanov, Deputy Director of RVB’s Legal Department; Pavel Logunov, CFO of RVB; and Alexandra Khmeleva, Director of Regional Development Management at WB Bank.
The board also includes First Deputy Minister of Digital Technologies Oleg Pekos, Accounts Chamber specialist Shakhzod Usarov, Ministry of Economy and Finance department head Muzzaffar Astonakulov, and independent member Roger Crook.
The postal operator
In June 2025, UzPost’s list of affiliated parties was changed. Aloqabank, the Ministry of Economy and Finance, and legal entities in which the ministry holds more than 20% were removed from the list. They were replaced by the AMSA, entities affiliated with the agency, and the National Investment Fund of Uzbekistan (UzNIF).
All three new entities held stakes of 20% or more in UzPost. In September, the 25% stake in UzPost that was initially planned to be transferred to UzNIF was instead transferred to the Agency for Management of State Assets.
On October 12, reports emerged that UzPost had been privatized. The buyer of the state stake was reported to be a Russian marketplace, with Wildberries among the names mentioned.
The following day, UzPost confirmed plans to attract investors amid the privatization reports that had emerged at the end of the previous week. The company cited growing demand for diversification, convenience and technology amid the expansion of e-commerce and declining demand for traditional postal services.
The investment was intended to modernize infrastructure, develop logistics, introduce digital solutions, expand the branch network, including in rural areas, and create modern facilities for processing and delivering mail and parcels, UzPost said.
A source familiar with the situation told Spot that the state stake in UzPost had been acquired by RVB, the joint company of Wildberries & Russ. RBC also reported, citing two sources in the Russian market, that Wildberries had taken part in the privatization of the postal operator. One of the sources said the marketplace had extensive plans for Uzbekistan.
Uzbek digital ecosystem Uzum expressed readiness to invest in UzPost and increase deliveries through the postal infrastructure to 10% of all orders on Uzum Market. The group said it planned to invest $1.5 billion in Uzbekistan over the following three to four years. Uzum later announced that it had submitted an application to participate in the bidding for UzPost.
“We are confident that the postal service is one of the state’s most important assets, so its management should take into account not only business interests but also national interests. The postal service performs a number of important social functions and provides thousands of jobs across the country. It is precisely the synergy with an Uzbek IT company that would allow all UzPost partners — whether Uzbek or foreign, large or small — to be brought together”, Uzum said.
In October, the Anti-Corruption Agency called on the Agency for Management of State Assets to ensure openness and transparency in the sale of a 29.4% state stake in the postal operator. The agency also reminded authorities of the legal requirement to publish information on assets being privatized on the Open Data Portal.
The English version of this material was generated with the assistance of AI translation tools and may differ slightly from the original text.
