Uzum, a leading digital services ecosystem in Uzbekistan, is pleased to announce that it has been assigned a Long-Term Issuer Default Rating (IDR) of ‘B’ with a Positive Outlook by Fitch Ratings (Fitch). This is the first IDR rating assigned to the Company by Fitch.
Fitch highlighted Uzum’s strong market position across Uzbekistan’s fast-growing e-commerce and fintech sectors, robust profitability, and strong liquidity profile as key drivers for the rating. They also noted the benefits of Uzum’s integrated financial services platform and its full operational control over key subsidiaries, including JSC Kapitalbank, as core strengths supporting the Group’s consolidated credit profile. Fitch expects Uzum’s non-bank segments, particularly its fintech and e-commerce businesses, to play an increasingly prominent role in the Group’s future growth.
The Positive Outlook signals Fitch’s confidence in Uzbekistan’s improving operating environment and Uzum’s medium-term growth prospects as it continues to scale its digital and financial services offering in the fast-growing market.
Fuelled by bold economic reforms, Uzbekistan has become one of the most exciting emerging markets globally, with a GDP exceeding $100 billion and a youthful population of 37 million, which is expanding by nearly one million people per year. Over half of this growing population now uses one of Uzum’s services each month, including e-commerce, banking, fintech, and on-demand delivery.
We are proud to receive our first Fitch rating, which reflects both the strength of our business model, technology and the growth potential of Uzbekistan’s digital economy. This is an important step for Uzum as we look to deepen our engagement with global investors and continue building a trusted, long-term platform for our customers and partners.
About Uzum
Uzum is a digital ecosystem and the largest digital platform in Uzbekistan, providing services spanning e-commerce, express delivery, banking and fintech, and business development. More than 17 million people — over half of Uzbekistan’s population, use Uzum services every month. Learn more at uzum.com.
For additional information please contact: pr@uzum.com / uzum@hudsonsandler.com
About Fitch Ratings
Fitch Ratings is a global leader in credit ratings and research. With dual headquarters in New York and London, Fitch provides credit opinions, analytical tools, and risk services to the world’s financial markets. For more information, visit www.fitchratings.com.