MaxAB-Wasoko, a prominent player in Africa's e-commerce and supply chain landscape, has announced the acquisition of the Egyptian B2B platform Fatura. This event underscores the strategic goal of integrating commerce and fintech services across the continent.
Announcement of Fatura Acquisition
MaxAB-Wasoko has announced the acquisition of Fatura from EFG Finance, which will enhance the company’s operations. The deal grants EFG Finance a significant minority stake and a seat on the MaxAB-Wasoko board.
Strategic Advantages for MaxAB-Wasoko
By merging their business models, MaxAB-Wasoko gains access to a network of 626 wholesalers across 16 Egyptian markets, improving the platform's product assortment and flexibility for retailers. This integration is projected to increase the company’s revenue from Egypt by at least 25% by the end of 2025.
Impact on the African Market
The acquisition of Fatura reflects significant changes in Africa's retail sector, where the convergence of e-commerce and fintech is becoming the norm. With its innovative strategy, MaxAB-Wasoko aims to lead the market transformation despite challenges such as workforce reductions and high competition.
The acquisition of Fatura is a strategically significant move for MaxAB-Wasoko in strengthening its position in the African market. The expected integration of the platform is seen as crucial for improving operational efficiency and revenue growth, supporting the ongoing trend of retail digitalization on the continent.
