Omani entities have invested about $130 million in Uzbekistan’s digital commerce platform Uzum, with Oman Investment Bank serving as financial adviser to the lead investor and guiding the transaction that underscores growing Gulf interest in Central Asia’s technology sector.The deal centres on an equity investment aimed at strengthening Uzum’s expansion across e-commerce, fintech and digital services in Uzbekistan, a market that has drawn increasing attention from foreign investors seeking exposure to fast-growing online consumer platforms. Oman Investment Bank supported the lead investor in structuring the transaction, assessing valuation, and executing the investment strategy.
Uzum has emerged as one of Uzbekistan’s most prominent digital platforms, combining online retail, payments and financial technology services. Founded with the ambition of building a domestic digital ecosystem similar to the integrated models seen in parts of Asia, the company operates an online marketplace, digital wallet and buy-now-pay-later services aimed at expanding access to consumer finance.
Executives familiar with the investment say the capital injection will help the platform expand logistics infrastructure, strengthen payment services and scale its technology capabilities. Uzbekistan’s digital economy remains at an early stage compared with more mature markets, leaving significant room for growth as internet penetration rises and online retail adoption accelerates.
Central Asia has drawn greater interest from investors in the Gulf over the past few years as governments across the region implement reforms to attract foreign capital and modernise their economies. Uzbekistan, the most populous country in Central Asia with more than 36 million people, has introduced policies aimed at liberalising markets, supporting entrepreneurship and expanding private sector investment.
Digital commerce has grown quickly in the country as younger consumers adopt online shopping and mobile payments. Analysts tracking the sector note that Uzbekistan’s e-commerce penetration remains lower than in markets such as the United Arab Emirates or Saudi Arabia, suggesting considerable potential for expansion as infrastructure improves and digital services spread beyond major cities.
Oman Investment Bank’s advisory role reflects a wider trend of financial institutions from the Gulf participating in cross-border investments tied to technology and digital transformation. Institutions in Oman and other Gulf states have increasingly supported regional investors seeking opportunities in emerging markets with strong demographic growth and expanding digital sectors.
Officials involved in the transaction say the investment fits within broader strategies among Gulf investors to diversify beyond traditional energy-linked assets. Technology platforms in developing markets offer exposure to consumer growth, digital finance and online services that are reshaping economic activity across Asia and Africa.
Uzum has positioned itself at the centre of Uzbekistan’s digital transformation by integrating multiple services into a single platform. Its online marketplace connects sellers and consumers nationwide, while its fintech arm offers payment services and consumer credit options. The company has also invested heavily in logistics networks designed to shorten delivery times and expand coverage across the country.
Industry observers describe the Uzbek platform economy as entering a stage where large integrated players could consolidate market share as capital flows into the sector. Companies capable of combining payments, e-commerce and financing within a single ecosystem often attract international investors seeking scalable digital business models.
Economic reforms in Uzbekistan have played a role in drawing such investments. Government policies introduced during the past decade have focused on easing restrictions on foreign ownership, improving regulatory transparency and encouraging the growth of private enterprises. Those changes have contributed to an increase in foreign direct investment across sectors ranging from energy and manufacturing to technology.
Digitalisation has also become a priority for the Uzbek government, which has outlined national programmes to expand broadband connectivity, modernise financial services and support technology start-ups. Such initiatives are expected to strengthen the foundations for companies like Uzum to scale their platforms.
The participation of Omani investors reflects expanding economic links between Gulf states and Central Asia. Governments and financial institutions across the Gulf Cooperation Council have pursued partnerships with Central Asian economies through investment funds, infrastructure projects and private-sector collaborations.
Financial advisers involved in cross-border deals say the Uzum transaction highlights how Gulf capital is moving toward technology-driven sectors rather than focusing solely on traditional industries. Digital marketplaces, payment platforms and financial technology companies are viewed as promising avenues for long-term growth as more consumers adopt online services.
Market specialists say Uzbekistan’s population structure supports that trend. A large share of the population is under 30, and smartphone adoption has risen steadily over the past decade. Younger consumers have shown strong interest in digital financial services, including mobile payments and instalment-based purchasing models.
Investments such as the $130 million stake in Uzum could accelerate development of the country’s digital infrastructure by enabling companies to expand fulfilment networks, improve payment processing systems and develop new technology products.
Advisers note that the involvement of Oman Investment Bank signals growing expertise among financial institutions in the Gulf in structuring international technology investments. Banks and advisory firms in the region have broadened their capabilities in mergers and acquisitions, private equity transactions and venture capital support.
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