Appetito didn’t disclose the size of the deal in its statement, and neither did CEO Shehab Mokhtar when quizzed about it via email. But sources familiar with the matter said the deal size was between $10 million to $15 million. Appetito said the deal makes it the largest q-commerce player in Africa. “No other q-commerce player in Africa operates in such big markets,” Mokhtar told TechCrunch. Africa’s fragmented retail market creates a solid business case for q-commerce models like Appetito, said the CEO.

Source: The North Africa Journal June 01, 2022 10:29 UTC