MaxAB-Wasoko: How a Major Merger is Using Data to Power Africa's Retail Future

In August 2024, the largest tech merger in Africa's history was completed between Egypt's MaxAB and Kenya's Wasoko, creating a new entity called "MaxAB-Wasoko" (or "MaxAB-Wasoko"). This wasn't just about expanding geographically; it was a strategic move to completely rethink Africa's informal retail model. The goal was to shift it from a traditional system, relying on intermediaries and informal credit, to a digital ecosystem powered by data and artificial intelligence.

From an E-commerce Platform to a Multi-Vertical Ecosystem

The newly formed entity transformed from being just a "B2B platform for ordering goods" into a comprehensive multi-vertical ecosystem. This new system brings together trade, logistics, and financial technology. This shift shows a deeper understanding of the African market, where small retailers are truly the backbone of local consumption.

MaxAB-Wasoko currently operates in five key countries: Egypt, Morocco, Kenya, Rwanda, and Tanzania. This follows a restructuring of operations in some other markets to focus on profitability and improve operational efficiency. The entity serves over 450,000 retailers, with its products and services reaching approximately 65 million consumers, making it one of the largest digital distribution networks on the continent.

2025–2026: Two Years to Solidify Dominance

The year 2025 saw strategic moves that strengthened the company's position, especially in the Egyptian market. In May 2025, MaxAB-Wasoko acquired the Fatura app, part of EFG Holding group. This deal not only added a new network of wholesalers but also brought EFG in as a major shareholder in the merged entity, bringing significant financial and investment weight.

However, the most important change was in the profitability model. Instead of relying solely on the margin from selling goods, the company expanded into the fintech sector. "MaxAB Payments" aims for transaction volumes exceeding 10 billion Egyptian Pounds by the end of 2025/2026. It also offers cash withdrawal and deposit services for all e-wallets through approximately 150,000 points of sale in Egypt. Here, the retailer transforms from just a buying customer into a partner in a fully integrated digital financial system.

Logistics and Artificial Intelligence: The Brains Behind the System

The core of MaxAB-Wasoko's advantage lies in its technical infrastructure. The company uses advanced algorithms for demand forecasting, analyzing purchasing patterns based on geographic location, income level, and population density. This capability reduces inventory waste, increases goods turnover rates, and lowers operational costs.

The company also developed a logistics network that relies on strategically distributed micro-warehouses, supported by a transport fleet linked to smart GPS systems. These systems choose optimal routes to ensure delivery within 24 hours. This model significantly reduces the time gap between demand and supply, which is one of the biggest traditional weaknesses in informal markets.

In the realm of finance, the company offers an "embedded finance" model. Retailers receive instant "goods loans" based on their previous transaction data, with automated credit assessment that doesn't require traditional paperwork or collateral. Here, data itself transforms into a financial asset.

Numbers Reflecting Ambition

Historically, the merged entity has raised approximately $230 million from prominent global investors like Silver Lake, Tiger Global Management, and Lunate. This reflects international capital's confidence in the technology-backed trade model in Africa.

In Egypt alone, reports from late 2025 indicate that fintech operations are generating annual revenues exceeding $180 million. This figure highlights a shift in the center of gravity from goods trading to managing financial flows and data.

The entity is led by a "co-CEO" system, with Bilal Maghraby, founder of MaxAB, and Daniel Yu, founder of Wasoko. This management model truly reflects the spirit of cross-border integration.