MaxAB-Wasoko Acquires Fatura from EFG Finance to Fuel Pan-African Retail Expansion
In a deal that underscores the accelerating convergence of e-commerce and fintech in Africa, MaxAB-Wasoko, the recently merged e-commerce and supply chain super app, is acquiring Fatura, the Egypt-based B2B marketplace, from EFG Finance, a subsidiary of EFG Holding.
The acquisition marks a strategic leap for MaxAB-Wasoko as it pushes deeper into the pan-African retail and embedded finance space — and gives EFG Finance a board seat and significant equity stake in one of the continent’s most ambitious digital retail platforms.
For MaxAB-Wasoko, this is more than just territory expansion. It’s about control of the entire value chain.
“The acquisition of Fatura is more than a growth play; it’s the realization of our ambition to become the go-to, one-stop-shop for retailers throughout Africa,” said Belal El-Megharbel, CEO of MaxAB-Wasoko.
Fatura brings reach and scalability to the table. With over 626 wholesalers across 16 cities, including five new cities previously untapped by MaxAB, the integration will immediately broaden product access for retailers in Egypt — a market where fragmented supply chains remain a key pain point for SMBs.
The deal also includes EFG Finance taking a significant minority stake in MaxAB-Wasoko, along with a seat on the company’s board of directors — a move that deepens the strategic alignment between the two organizations and positions EFG to play a more active role in shaping the future of retail infrastructure and embedded finance across the continent.
The acquisition builds on MaxAB’s 2024 merger with Wasoko, which combined the former’s footprint in Egypt and Morocco with Wasoko’s base in Kenya, Tanzania, and Rwanda. Together, the unified platform is pushing toward an ambitious goal: .
Beyond logistics and inventory, the move has significant implications for embedded finance.
MaxAB-Wasoko’s platform includes credit and financial tools that now finance over 9% of e-commerce sales in Egypt. With Fatura’s asset-light marketplace now in play, MaxAB can further extend working capital loans to thousands of new retailers — helping them stock more, sell more, and grow faster.
“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.”
Aladdin ElAfifi, CEO of EFG Finance
The numbers are already promising. Fatura is projected to contribute around 25% of MaxAB’s Egypt revenue by the end of the year. Over the next 12–18 months, the company expects significant top-line growth and operational efficiency gains as it rolls out the Fatura model in other markets.
Since the merger, the MaxAB-Wasoko machine has been running hot: its fintech arm has doubled in Egypt, expanded into Morocco, and signed stronger supplier deals across the region.
This deal signals more than just consolidation. It’s a blueprint for what the next wave of African retail could look like: fully digitized, fully financed, and fully localized.
With EFG Finance onboard and Fatura in the fold, MaxAB-Wasoko is putting its foot on the gas, and the rest of the market is watching.
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