Two major B2B e-commerce firms in Africa, Wasoko from Kenya and MaxAB from Egypt, have agreed to merge, aiming to enhance Africa’s informal retail sector. Wasoko, previously known as Sokowatch, offers a mobile app for retailers to restock products with free same-day delivery across six African countries. MaxAB supports underserved local merchants in Egypt and Morocco to grow their businesses and closed its own funding round in 2022.
The merger, described as a “merger-of-equals,” aims to combine strengths to create the most successful digital retail platform in Africa. The new entity’s name and the ownership structure have not been disclosed yet. The CEOs of both companies expressed excitement about the potential of this merger to provide innovative e-commerce, fintech, and logistics solutions, aiming to empower customers and partners across the continent. Wasoko’s CEO highlighted the merger as a significant step toward becoming a pan-African company, emphasizing the commitment to empower businesses and consumers throughout the continent.
