MaxAB-Wasoko Acquires Fatura, Boosting African Fintech and E-commerce Powerhouse

Editorial Team

Last updated 20-05-2025

3 min

MaxAB-Wasoko is acquiring Egypt’s Fatura to strengthen their position in Africa's e-commerce markets.

EFG Finance becomes a key shareholder in MaxAB-Wasoko, securing a board seat for strategic decisions.

The acquisition aligns with MaxAB-Wasoko’s goal to be a "one-stop-shop" for African retailers.

This move promises enhanced credit solutions and a broader product range for small retailers.

Fatura's successful model will integrate with MaxAB's supply chain, boosting efficiency and growth.

It's an exciting time in Africa's bustling fintech and e-commerce arena, as MaxAB-Wasoko—the continent's booming e-commerce and supply-chain giant—is set to acquire Egypt’s Fatura, a notable B2B online marketplace, as announced by EFG Finance, part of the influential EFG Holding.

Through this significant partnership, EFG Finance will now become a key shareholder in MaxAB-Wasoko, securing a board seat that could further boost the group's ambitious plans across Africa. For MaxAB-Wasoko, joining forces with Fatura isn't just another notch on their corporate belt; it's integral to a wider strategy of cementing a dominant position across African markets. The acquisition builds on the company’s transformation last year when MaxAB merged with Wasoko, expanding operations impressively into Kenya, Rwanda, and Tanzania.

Belal El-Megharbel, MaxAB-Wasoko’s CEO, described the move not merely as a tactical business expansion, but rather as a genuine step towards realising their ambition to become Africa's comprehensive "one-stop-shop" for retailers: "Bringing together operational strength, depth of products, and cutting-edge fintech goes far beyond traditional growth—it's all about setting new standards region-wide."

Fatura’s integration will open doors immediately for retailers, who'll be able to access a far broader product range, something particularly vital in the fragmented landscape of Africa’s local retail markets. Fatura has already proved successful, enrolling some 626 wholesalers across 16 cities—five of which are new regions where MaxAB-Wasoko will now mark its presence.

Aladdin ElAfifi, CEO at EFG Finance, was clearly delighted about the partnership, noting how working closely with MaxAB-Wasoko will transform the retail sector, improve business growth, and boost innovation. This move solidifies EFG's commitment to supporting fintech evolution across African regions.

The combined platform will offer enhanced credit solutions too, meaning smaller retailers won't face the same headache chasing working capital as before. Instead, they'll have a smoother experience securing stock, facilitating more sales, and paving the way towards sustainable growth—quite the boon for small and medium-sized businesses that are often stretched thin on resources.

Founded back in 2019, Fatura carries an appealing and flexible business model, asset-light and easily scalable. It blends seamlessly with MaxAB’s end-to-end supply chain management—covering everything from getting goods sourced to delivering them straightforwardly at retailers' doorsteps. This synergy means vastly improved selection, simpler processes, and greater convenience for businesses previously constrained by limited supplier portfolios.

Early projections for the merged platforms look promising. Over the next year to year and a half, analysts anticipate solid topline growth alongside increased efficiency. Fatura is forecasted to contribute about 25% of MaxAB-Wasoko's revenue in Egypt by the close of the current fiscal year, with impressive momentum expected when this strategy rolls out into other parts of Africa.

Since the merger between MaxAB and Wasoko, their fintech offerings have expanded significantly—financial services have already doubled within Egypt, entered Morocco, and now account for funding more than 9% of all e-commerce sales across their network. Clearly, demand remains high among African retailers for seamless, digital financial solutions. Alongside more attractive supplier terms and bolstered operational efficiency, these steps indicate an encouraging direction for the group’s regional expansion drive.

Together, MaxAB-Wasoko and their new partners at EFG Finance appear genuinely set on reshaping African retail—building a connected, tech-savvy ecosystem that helps smaller merchants compete and thrive, while also giving supply-chain logistics across the continent a timely kick-start. It's one to watch, as Arageek readers will undoubtedly recoginse.

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