- Wasoko and MaxAB, two African e-commerce leaders, are set to merge, creating a B2B giant with a combined customer base exceeding 450,000 merchants across eight countries.
- The merger, positioned as a strategic alignment, aims to transform Africa’s informal retail sector, establishing the largest digital retail platform on the continent.
- With monthly revenue growth, network expansion, and progress toward profitability, the combined entity of Wasoko and MaxAB seeks to address challenges in the $850 billion African informal retail sector and foster intra-Africa trade.
Two of Africa’s e-commerce giants, Wasoko and MaxAB, have recently announced their plans to merge, marking a significant development in the continent’s business landscape, according to a statement.
Wasoko and MaxAB, both leaders in the B2B e-commerce space, are strategically aligning to strengthen their positions. With a combined customer base of over 450,000 merchants across eight African countries, this merger positions them as a dominant force in the region.
This merger of equals aims to drive the transformation of Africa’s informal retail sector, creating the largest digital retail platform on the continent.
The merger will consolidate the market presence of Wasoko and MaxAB, serving an estimated 65+ million consumers.
The companies have experienced significant growth in 2023, with monthly revenue increases, network expansion, and substantial progress toward profitability.
By combining these capabilities, Wasoko and MaxAB aim to address challenges in Africa’s $850 billion informal retail sector and foster intra-Africa trade.
Both companies bring unique strengths to the table, including integrated payment solutions, merchant financing, and proprietary logistics operations.
The CEO of MaxAB, Belal El-Megharbel, and Daniel Yu, the CEO of Wasoko, expressed commitment to shaping the long-term future of the combined entity.
Their continued leadership underscores confidence in leveraging synergies for the benefit of customers and partners.
The complementary strengths of Wasoko and MaxAB are expected to drive innovation, enhancing the overall e-commerce experience.
The Wasoko and MaxAB merger represents a pivotal moment in African e-commerce, showcasing the potential for collaboration to drive economic growth and address sector-specific challenges. As the companies navigate internal approvals and closing conditions, the strategic alignment and shared vision set the stage for a transformative partnership that could reshape the e-commerce landscape in Africa.
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