- Wasoko and MaxAB complete historic African B2B e-commerce merger
- Combined entity serves 450,000 merchants across five markets
- Fintech services drive profitability push, projecting doubled revenue by 2024
A Match Made in Retail Heaven
In a groundbreaking move, African B2B e-commerce powerhouses Wasoko and MaxAB have completed their long-anticipated merger.
This all-stock transaction marks a significant evolution in the continent’s $600 billion informal retail sector, creating a formidable multi-vertical ecosystem.
Scaling Back to Scale Up
The newly formed entity now boasts the largest network of B2B informal retailers in Africa, serving over 450,000 merchants across five key markets: Egypt, Kenya, Morocco, Rwanda, and Tanzania.
This strategic consolidation reflects a broader trend among African B2B e-commerce companies adapting to challenging market conditions.
Fintech Focus Fuels Future Growth
Looking ahead, the merged company aims to achieve profitability by scaling its fintech offerings.
These high-margin services, including e-payments, credit financing, and digital top-ups, are projected to more than double in revenue by December 2024.
The combined entity has already provided over $20 million in merchant financing, boasting an impressive 99% repayment rate.
