The news:
- MaxAB-Wasoko acquires Fatura from EFG Finance, enhancing its B2B eCommerce capabilities in Egypt.
- EFG Finance becomes a significant shareholder in MaxAB-Wasoko and secures a board seat.
- The acquisition expands MaxAB-Wasoko’s reach to over 626 wholesalers in 16 Egyptian cities.
- Fatura is projected to contribute approximately 25% of MaxAB-Wasoko’s Egypt revenue by the end of the year.
MaxAB-Wasoko has acquired Egypt-based B2B marketplace Fatura from EFG Finance, a subsidiary of EFG Holding. This acquisition follows the 2024 merger between MaxAB and Wasoko, marking a strategic consolidation to strengthen their foothold in the continent’s retail supply chain. It also marks the second time Fatura has been acquired in the past three years.
Integrating Fatura into MaxAB-Wasoko’s platform is a step towards consolidating B2B commerce and fintech services across Africa. By unifying operations and leveraging Fatura’s extensive network, MaxAB-Wasoko aims to offer a comprehensive, tech-enabled solution tailored to local market needs.
“The acquisition of Fatura is more than a growth play; it’s the realisation of our ambition to become the go-to, one-stop shop for retailers throughout Africa,” said Belal El-Megharbel, CEO of MaxAB-Wasoko. “By bringing together operational strength, product depth, and innovative fintech offerings, we’re setting a new standard for retail across the region.”
Fatura’s asset-light marketplace model complements MaxAB-Wasoko’s robust supply chain, providing retailers with a broader product assortment and improved access to embedded financial services. This integration is expected to drive significant topline growth and operational efficiency over the next 12–18 months.
Aladdin ElAfifi, CEO of EFG Finance, expressed enthusiasm about the partnership.
“We are thrilled to partner with MaxAB-Wasoko as they reshape the retail and supply chain sectors. Integrating Fatura will drive meaningful business growth, and our role as a significant shareholder and board member supported by EFG Holding reinforces our commitment to fostering innovation in the fintech space.”
Since the merger of MaxAB and Wasoko, the combined entity has achieved remarkable growth across its fintech and e-commerce verticals. The company’s fintech business has doubled in Egypt, expanded to Morocco, and now provides credit solutions that finance over 9% of e-commerce sales.
With the acquisition of Fatura, MaxAB-Wasoko continues to build an integrated, tech-enabled ecosystem that empowers retailers, improves supply chain efficiency, and propels economic growth across the continent.
