In a bold move reshaping the African retail and fintech landscape, MaxAB-Wasoko has announced its acquisition of Fatura, a B2B marketplace based in Egypt, from EFG Finance. The transaction marks a major step forward in MaxAB-Wasoko’s vision to become the leading digital infrastructure provider for informal retailers across the continent. EFG Finance, a subsidiary of EFG Holding, joins the merged platform as a strategic investor, gaining a significant minority stake and a seat on the board of directors.
Strategic Expansion into Egypt's Retail Backbone
With this acquisition, MaxAB-Wasoko is reinforcing its presence in Egypt by tapping into Fatura’s robust local network of more than 626 wholesalers across 16 cities. Five of these cities are entirely new markets for MaxAB-Wasoko, offering fresh ground for expanding its retail and fintech services. This geographical expansion is critical in addressing Egypt’s fragmented supply chains, a long-standing challenge for small and medium-sized retailers.
Towards a Unified Retail Ecosystem
The deal reflects MaxAB-Wasoko’s larger ambition to control the entire retail value chain, from procurement to financing. Belal El-Megharbel, CEO of MaxAB-Wasoko, emphasized that the acquisition is not just about scale but about building a comprehensive ecosystem that supports every aspect of informal retail operations. This end-to-end strategy is designed to provide retailers with consistent product access, better pricing, and integrated financial tools to streamline their growth.
EFG Finance Deepens Strategic Alignment
EFG Finance’s involvement goes beyond financial backing, as its new board position enables it to actively shape the future of the combined platform. Aladdin ElAfifi, CEO of EFG Finance, described the partnership as a commitment to fueling innovation in both fintech and retail infrastructure across Africa. With this deeper strategic alignment, EFG Finance is positioning itself as a key driver in Africa’s evolving digital commerce landscape.
Building on the MaxAB-Wasoko Merger Momentum
This acquisition builds on the momentum of MaxAB’s 2024 merger with Wasoko, which brought together complementary markets in North and East Africa. MaxAB contributed its footprint in Egypt and Morocco, while Wasoko added operations in Kenya, Tanzania, and Rwanda, forming one of the continent’s most ambitious digital commerce platforms. The addition of Fatura now enhances the group’s operational scale and reach, setting the stage for accelerated regional expansion.
Scaling Embedded Finance Capabilities
A major highlight of the acquisition is its impact on embedded finance, a core pillar of MaxAB-Wasoko’s business model. The company currently finances over 9% of e-commerce sales in Egypt, offering credit and working capital loans through its platform. By integrating Fatura’s asset-light marketplace, MaxAB-Wasoko gains access to thousands of new retail clients, significantly expanding its ability to deliver financial services that help businesses stock more, grow faster, and operate more efficiently.
Growth Projections and Operational Synergies
Early projections suggest that Fatura will contribute approximately 25% of MaxAB’s Egypt revenue by the end of the year. Over the next 12 to 18 months, the company expects to see strong top-line growth and operational efficiency improvements as it rolls out Fatura’s marketplace model across other African markets. This signals not only a short-term boost but also a long-term strategy to replicate success across a broader geography.
The MaxAB-Wasoko-Fatura deal goes beyond a typical acquisition — it reflects a new vision for African retail: digital-first, financially inclusive, and hyper-local. As informal retail remains the backbone of commerce across much of the continent, this move aims to professionalize and empower that sector at scale. With Fatura integrated and EFG Finance on board, MaxAB-Wasoko is poised to become a transformative force in the next phase of Africa’s digital and economic evolution.