Maxab-Wasoko, one of the main super applications for electronic commerce and supply chain in Africa, announced the acquisition of Fatura, a leading B2B electronic commercial market, EFG Finance, a subsidiary of EFG Holding.
The acquisition marks an important step in the strategy of Maxab-Wasoko to accelerate the B2B and Fintech trade landscape through the African continent. As part of the agreement, EFG Finance will join Maxab-Wasoko as an important action, acquiring participation and guaranteeing a seat on the company’s board of directors.
Speaking on the acquisition, Belal el-Megharbel, CEO of Maxab-Wasoko, said,
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“The acquisition of Fatura is more than a growth game, it is the realization of our ambition to become the Go-TO, a one-stop shop for retailers across Africa.
Also commenting, Aladdin Elafifi, CEO of EFG Finance, said,
“We are delighted to associate with Maxab-Wasoko because they reshape the sectors of the retail chain and the supply chain. The integration of Fatura will stimulate significant growth in businesses, and our role as an important activity and member of the board of directors supported by EFG Holding strengthens our commitment to promote innovation in the Fintech space. “”
Fatura is a B2B market compatible Fintech. Created in 2019, the company connects suppliers (manufacturers, distributors and wholesalers) with retailers of 23 governors in Egypt, allowing prices transparency, financial inclusion and access to real -time and precise data. In the FMCG sector alone, it has more than 1,000 suppliers selling more than 40,000 retailers a range of more than 10,000 unique SKUs.
The acquisition of the fintech by Maxab-Wasoko, will considerably expand its footprint in the region and will bring together the forces of operations, the depth of the products and the Innovation Fintech, establishing a new standard for retail sales across Africa. The retailers will immediately benefit from an assortment of larger and more complete products, a crucial advantage in a fragmented supply chain where no single distributor can meet all the needs of the retailers.
The impressive scope of Fatura, having integrated more than 626 wholesalers in 16 cities (including five new cities for Maxab-Wasoko), ensures greater flexibility and convenience for small and medium retail.
Maxab, on the other hand, is the B2B activity which knows the fastest growth in the retail industry in Egypt. Created in 2018 as an electronic commerce platform allowing poorly served local merchants and mom-past stores in Egypt and Morocco to grow, increase their income and improve their quality of life.
In August 2024, Maxab and Wasoko, two main B2B electronic commerce platforms, completed their merger, creating the most important technological merger in African history. A key objective for the merged company has been to expand its financial service offers. The newly formed entity now designs more than 450,000 merchants across Egypt, Morocco, Kenya, Tanzania and Rwanda, connecting them to 65 million consumers.
By acquiring Fatura, Maxab-Wasoko moves to consolidate fragmented players in the B2B electronic shopping space. The acquisition of Fatura by Maxab-Wasoko includes several key implications for the landscape of electronic commerce and African retail.
The retailers now have access to an assortment of larger and more diverse products from combined supplier networks. This is aligned with the company’s vision to stimulate financial inclusion and offer value -added services such as credit, analysis and inventory tools.
In addition, the acquisition accelerates the ambition of Maxab-Wasoko to become the “view” for retailers across Africa, offering goods, financing, technological tools and reliable delivery under a single platform.
Essentially, this acquisition is a growth, consolidation and game of leadership on the market, positioning Maxab-Wasoko as a dominant force in the Evolutionary Retail and Digital Trade Ecosystem.
