Two of Africa’s most prominent B2B e-commerce companies, Kenya’s Wasoko and Egypt’s MaxAB, have announced they have signed preliminary merger terms to join together as a combined entity to drive the transformation of Africa’s informal retail sector. Previously known as Sokowatch, Wasoko closed a US$125 million Series B equity round in March 2022. I am proud of what we have achieved as MaxAB, and even more excited for our future together with Wasoko. As a combined company, we can truly unlock the potential of Africa’s informal retail sector across a variety of technology-enabled services in e-commerce, fintech and logistics. As we embark on our next stage of expansion, our merger with MaxAB underscores our commitment to empowering businesses and connecting consumers across all parts of the African continent with an affordable and diverse range of essential products.

Source: The North Africa Journal December 22, 2023 23:53 UTC