Wasoko and MaxAB, join the African e-commerce revolution

Wasoko and MaxAB Join Forces to Champion E-commerce

Wasoko and MaxAB, two e-commerce pioneers, have announced a merger to become the continent’s dominant digital retail platform. This merger-of-equals, the largest tech deal in Africa’s history, creates a combined entity serving over 450,000 merchants and 65 million consumers across eight countries.

Synergy, Expansion, and Pan-African Vision:

This merger is no mere consolidation; it’s a strategic union fueled by both companies’ impressive growth and shared vision for Africa’s informal retail sector, valued at a staggering $850 billion. With Wasoko experiencing a 30% monthly revenue increase and MaxAB seeing a 25% growth in active merchants, their combined capabilities promise significant expansion and impact.

The key lies not only in their B2B e-commerce platforms but also in their integrated payment solutions, merchant financing, and robust logistics networks. Their pan-African aspirations transcend individual markets, aiming to create a seamless infrastructure facilitating intra-African trade and implementing cutting-edge technologies across the continent.

Leadership Voices, Shared Excitement:

Both CEOs, Belal El-Megharbel of MaxAB and Daniel Yu of Wasoko, express enthusiastic optimism about the merger’s potential. Belal highlights the combined offering’s unique value proposition and the enhanced ability to serve customers and partners across Africa. Daniel emphasizes the merger’s realization of Wasoko’s pan-African dream and commitment to connecting businesses and consumers across the continent.

Future Steps and Continued Leadership:

The merger, subject to customary approvals, is expected to be finalized soon. Both Belal and Daniel remain as full-time executive leaders, ensuring continuity and leveraging their complementary strengths. Additionally, the combined entity has secured fresh investment, providing substantial runway for future growth and profitability.

Impact and Significance:

This historic merger signifies a transformative shift in Africa’s digital retail landscape. With a united front, Wasoko and MaxAB hold the potential to revolutionize the sector, empowering businesses, connecting consumers, and driving digital inclusivity across the continent. This is a watershed moment, and the world watches with anticipation as Africa’s e-commerce giants join forces to rewrite the narrative.