Umai Group, one of Central Asia's leading retailers, partners with IFC for $50 million financing to accelerate growth
Investment will support Umai Group's continued growth through the development of a new distribution center and future store expansion to accelerate modern grocery transformation in the Kyrgyz Republic
BISHKEK, Kyrgyz Republic, July 8, 2026 /PRNewswire/ -- Umai Group (also known as Umai Retail KG), the Kyrgyz Republic's leading modern grocery retailer with 172 stores, is pleased to announce that it has partnered with IFC, the largest global development institution focused on the private sector in emerging markets, to secure a $50 million loan facility.
The facility will be used to fund the construction of a centralized, multi-temperature, EDGE-certified distribution center in Bishkek that will serve as the principal distribution center for Umai Group. The project is expected to complete in mid-2027.
Umai Group was founded in 2002 under the Narodnyi brand and has since evolved into a multi-format grocery retail and logistics business operating 172 sites and serving more than 280,000 customers daily across its Globus, Narodnyi, SPAR and Dostor brands. Visor International acquired Umai Group in 2006 and has since scaled the company to the Kyrgyz Republic's leading modern grocery retailer. Visor International is committed to supporting the development of the private sector in the Kyrgyz Republic and has an established track record of successfully partnering with international development finance institutions.
The distribution center will provide the operational infrastructure for Umai Group to more than double its portfolio of stores to up to 400 across the Kyrgyz Republic, creating more than 22,000 direct and indirect jobs, supporting farmers and food producers, and expanding access to and availability of affordable, quality food across the country.
IFC's financing is a strong endorsement of the significant opportunities presented by one of Central Asia's fastest-growing markets. The country delivered real GDP growth of 11.1% in 2025, and this growth is supported by a young and expanding population: the country's population reached approximately 7.4 million in early 2026, while children aged 0–17 account for 37% of the population. These demographics come together with rising investment in private sector infrastructure to create a supportive backdrop for continued investment in the country.
Rud Pedersen, Chairman of Umai Group's Supervisory Board: "We are delighted to partner with IFC on this US$50 million financing, which represents a strong endorsement of Umai Group's leadership in the Kyrgyz Republic's rapidly developing modern grocery retail sector, as well as the Central Asia region's continued economic development.
Having seen first-hand the development of grocery retail in Russia and Uzbekistan, I am incredibly excited by the opportunity I see for Umai Group.
"The financing will support the construction of a best-in-class distribution centre, creating the infrastructure needed to serve our existing network of 172 stores across the Globus, SPAR, Narodnyi and Dostor brands, while also underpinning our ambition to approximately double our store footprint over the medium term and in doing so, indirectly support more than 22,000 jobs in the Kyrgyz Republic.
"IFC's investment reflects confidence in the strength of our customer proposition, the quality of our business and governance structures, and our ability to continue leading the development of modern grocery retail in Kyrgyzstan."
Michael Sauer, CEO and Partner Visor International, owner of Umai Group, commented: "The new distribution centre will significantly strengthen Umai Group's ability to serve customers across its market-leading Globus, SPAR, Narodnyi and Dostor stores as well as facilitating our ambition to expand across the country. By investing in modern logistics and supply chain infrastructure, we will be able to build a more stable supply chain for farmers and producers across the Kyrgyz Republic and provide more customers with affordable, consistently high-quality food."
Lukas Casey, IFC's Regional Manager for Manufacturing, Agribusiness and Services for Central Asia and Türkiye, added: "Our investment will help Umai create jobs and improve food access for its customers in the Kyrgyz Republic. Modern private food retail and logistics can make food affordable and of consistent quality for consumers while also creating opportunities for farmers and others at scale, especially outside major cities."
About Umai Group
Umai Group is Kyrgyzstan's leading grocery retailer, with more than 24 years of experience in developing modern retail, logistics infrastructure, and in-house manufacturing.
The company operates 172 stores under the Globus, Narodnyi, Dostor, and SPAR brands, serving over 280,000 customers daily. Umai Group employs more than 7,500 people, making it one of the country's largest private employers.
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries.
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