Retail e-commerce powerhouse MaxAB-Wasoko has announced the acquisition of Egyptian B2B e-marketplace Fatura, marking the company’s first major move since its high-profile merger last year. The deal, struck with EFG Finance a subsidiary of EFG Holding and Fatura’s former owner signals MaxAB-Wasoko’s continued push to consolidate Africa’s fragmented B2B commerce and fintech landscape.
MaxAB-Wasoko emerged from the 2023 merger of Egypt’s MaxAB and Kenya’s Wasoko, creating a pan-African retail tech giant with a growing presence in Kenya, Rwanda, Tanzania, Egypt, and Morocco. This acquisition deepens the company’s roots in Egypt and reflects its strategic goal of becoming a comprehensive one-stop-shop for retailers across the continent.
Commenting on the acquisition, MaxAB-Wasoko CEO Belal El-Megharbel stated, “The acquisition of Fatura is more than a growth play; it’s the realization of our ambition to become the go-to, one-stop-shop for retailers throughout Africa.”
Founded as a B2B digital marketplace, Fatura has onboarded over 626 wholesalers across 16 cities in Egypt, including five new cities previously untapped by MaxAB-Wasoko. This geographic expansion is expected to significantly boost MaxAB-Wasoko’s top-line revenue over the next 12 to 18 months.
The company estimates that Fatura will contribute around 25% of its Egypt-based revenue by the end of the year. Moreover, plans are underway to replicate Fatura’s successful model across MaxAB-Wasoko’s broader African operations.
As part of the acquisition deal, EFG Finance joins MaxAB-Wasoko as a shareholder, gaining an undisclosed equity stake and a seat on the board of directors. This move is expected to strengthen MaxAB-Wasoko’s governance and investor backing as it eyes further regional consolidation and innovation in digital retail solutions.
With this strategic acquisition, MaxAB-Wasoko not only reinforces its leadership in North Africa’s e-commerce space but also sets the stage for scaling its B2B fintech services continent-wide positioning itself as a dominant force in Africa’s retail and supply chain transformation.
