Emirates Telecommunications Group Company (Etisalat Group) signed an agreement with elGrocer to acquire 100 percent of elGrocer DMCC, a move that will support its digital ambitions.
UAE is rated as one of the most advanced countries for online shopping and eCommerce market in the MENA region, and this acquisition will contribute to the growing digital economy in the country, Etisalat said.
Khaled ElKhouly, Chief Consumer Officer of Etisalat UAE, said, “We are working on new, innovative digital services and this partnership will empower consumers, enhance engagement, and drive diversification of our business.”
Raed Hafez, CEO of elGrocer, said: “We are excited to join forces with Etisalat team giving us the opportunity to tap into their digital capabilities, advanced network and services to accelerate our strategic expansion plans.”
Founded in 2015, elGrocer is a leading online marketplace for groceries operating in all seven Emirates of the UAE. It brings together major retailers and specialty stores on a single platform with more than 500 outlets and 120,000 products listed.