Qiwi has completed the sale of its business in Russia by finalizing the asset disposition within the Russian market, a development confirmed by TASS and cited by the company’s new chairman, Alexey Mashchenkov. The move marks a significant milestone in Qiwi’s restructuring plan and signals a shift in the company’s strategic focus toward international opportunities and long-term value creation for shareholders.
Mashchenkov described the deal as the culmination of a highly intricate process that reorganized Qiwi’s asset footprint in Russia. He underscored that the priority now is to deliver shareholder value while pursuing sustainable and profitable growth over time. The statement reflects a clear commitment to clarity in corporate direction and to prioritizing durable financial performance as the business adapts to evolving market conditions.
Earlier reporting in June indicated that the Qiwi group, which operates the Qiwi payment service, finalized the consolidation of Russian assets under a local legal entity, completing the first phase of the broader restructuring. The plan outlined anticipated a separation of Russian and international assets, with the next steps aimed at achieving a cleaner, more streamlined corporate structure by September 2023. These moves laid the groundwork for a more focused international expansion while maintaining operational integrity in the markets where Qiwi previously operated.
In a subsequent development dated January 19, 2024, Qiwi completed a restructuring of its business by selling its Russian assets to Fusion Factor Fintech Limited, a Hong Kong-based company. This transaction represents a strategic realignment intended to unlock value and redirect resources toward growth initiatives outside Russia’s borders. The completion of the asset sale aligns with the company’s ongoing efforts to optimize its asset portfolio and pursue opportunities that support long-term profitability and resilience in a rapidly shifting global payments landscape.
Across these actions, Qiwi’s leadership has emphasized steady discipline and careful governance as it navigates a transition phase. The company’s management has repeatedly highlighted a focus on governance improvements, capital efficiency, and risk management as essential elements of building a more robust, future-ready organization. The ongoing reassessment of asset allocation is presented as a necessary step to strengthen balance sheets and support the company’s strategic ambitions in international markets.
Observers note that the restructuring reflects broader industry trends toward consolidation and regional diversification within the digital payments sector. By repositioning its asset base and pursuing international opportunities, Qiwi aims to maintain relevance in a competitive environment while safeguarding stakeholder interests. The leadership’s emphasis on sustainable growth and shareholder value creation resonates with investors seeking clarity and transparency amid market volatility and regulatory changes affecting fintech platforms and payment networks worldwide.
Looking ahead, Qiwi is expected to advance its strategic agenda by focusing on scalable, income-generating activities in regions outside Russia. The company’s trajectory will likely involve strengthening partnerships, expanding product offerings, and leveraging technology to improve user experience and payment efficiency. As the company realigns its operations, stakeholders will be watching how Qiwi translates these structural shifts into tangible performance outcomes, including revenue diversification, cost discipline, and improved cash flow across its international portfolio. The overarching message from leadership remains one of cautious optimism, anchored in solid execution and prudent risk management as Qiwi navigates a rapidly evolving payments ecosystem and seeks sustainable growth opportunities for the years ahead.