MaxAB-Wasoko acquires Fatura to expand presence in Egypt’s B2B e-commerce market
MaxAB-Wasoko acquires Fatura in a recent strategic move to dominate the Egyptian B2B e-commerce market. Futura was previously owned by EFG Finance, an affiliate of EFG Holding.
This development comes barely a year after the merger between MaxAB and Wasoko, according to Belal El-Megharbel, co-CEO of MaxAB-Wasoko, the acquisition isn’t just about increasing market share. The move is part of a broader ambition in strengthening Africa’s broken informal retail economy, with Egypt leading the way.
“We’re executing on a bigger vision to build a one-stop platform for retailers across Africa. Fatura helps us accelerate that, especially in Egypt,” El-Megharbel added.
The announcement that MaxAB-Wasoko acquires Fatura marks a recent strategic move to scale its value proposition, customer base and offerings in Egypt.
With Fatura’s marketplace model and established network of over 626 wholesalers operating in 16 Egyptian cities, MaxAB and Wasoko‘s reach will significantly increase. Retailers using the platform can now access a wider variety of goods, better delivery timelines, more streamlined financial services, and there`s more. As MaxAB-Wasoko acquires Fatura, EFG Finance also acquired a seat on MaxAB and Wasoko’s board. Aladdin ElAfifi, EFG Finance Chief Executive Officer, noted that Fatura’s integration is part of their broader strategy to support financial inclusion through technology. “We believe MaxAB-Wasoko’s infrastructure and fintech reach can drive real value for underserved retailers in Egypt and beyond,” he said.
The bigger picture: sales growth and larger market reach
At the company level, MaxAB and Wasoko foresee the Fatura deal generating significant revenue growth. Company executives forecast that Fatura could contribute up to 25% of MaxAB and Wasoko’s Egypt revenue by the end of the year. Fatura operates a lean marketplace platform that aligns well with MaxAB and Wasoko’s supply chain-focused activities. Together, the two systems are expected to unlock new efficiencies in distribution and vendor partnerships, potentially lowering operating costs while increasing profit margins.
The acquisition is part of a broader transformation that began in August 2024 when MaxAB and Wasoko merged. The merger created one of the largest e-commerce infrastructures in Africa, serving over 450,000 informal retailers across Egypt, Kenya, Tanzania, Rwanda, and Morocco. The merger didn’t just multiply the customer base. It also opened up new domains, most notably in the fintech sector. Since then, MaxAB-Wasoko has doubled down on financial services, offering digital payments, credit financing, and working capital to informal retailers.
Reports indicate that over $180 million in transactions now pass through the platform annually, with more than 40,000 merchants onboard. The company has already disbursed upwards of $20 million in credit to small businesses with repayment rates above 99%.
MaxAB-Wasoko`s move is not just about merging businesses but about improving its commitment to redefining informal retail across Africa. By integrating logistics, inventory management, and financial tools into a single digital ecosystem, the company is positioning itself as a backbone for the continent’s uncoordinated retail supply chains. As Egypt becomes the testing ground for this model, the success or failure of this supply chain integration could shape the future of e-commerce and financial inclusion in Africa’s over $600 billion informal retail market.
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