Africa’s B2B e-commerce sector has moved closer to greater integration as MaxAB-Wasoko, the continent’s largest retail and supply chain super app, has acquired Fatura, a prominent Egyptian B2B e-marketplace.

The acquisition was completed with EFG Finance and as part of the deal, EFG secures a substantial equity stake and a seat on MaxAB-Wasoko’s board. This strategic alliance aims to consolidate fragmented supply chains and embed financial services into Africa’s informal retail economy, valued at approximately USD 600 billion.

Co-CEO Belal El-Megharbel noted, the goal is to become the “one-stop-shop” for retailers, a vision increasingly validated by investors: the combined entity has raised USD 230 M to date, with backers like Tiger Global and Silver Lake betting on scale-driven profitability.

This transaction follows the major 2024 merger that united Egypt’s MaxAB and Kenya’s Wasoko into a pan-African platform now serving 450,000 merchants across five countries. By incorporating Fatura, which connects 626 wholesalers across 16 Egyptian cities, MaxAB-Wasoko significantly expands its product range and supplier network. This addresses a key challenge faced by small African retailers who often depend on inconsistent distributor relationships.

The acquisition is expected to increase MaxAB-Wasoko’s revenue from Egypt by 25% within a year, with plans to extend the model to Kenya, Morocco, and Rwanda.

A central benefit of the deal is the fintech synergy. Fatura’s asset-light marketplace complements MaxAB-Wasoko’s embedded finance solutions, which currently finance 9% of e-commerce transactions and maintain a 99% repayment rate on USD 20 million in merchant credit. This reflects a wider trend in African B2B platforms, such as Nigeria’s TradeDepot and Kenya’s Twiga, which are shifting focus from logistics to financial services to enhance profitability.

“The acquisition of Fatura is more than a growth play; it’s the realization of our ambition to become the go-to for retailers throughout Africa,” said El-Megharbel.

EFG Finance’s participation strengthens this approach by leveraging its microfinance arm, Tanmeyah, to expand credit availability. The acquisition also aligns with Africa’s retail realities, where informal shops serve 70% of consumers but struggle with capital constraints. MaxAB-Wasoko’s super app integrates inventory management, same-day delivery, and credit services, effectively digitizing this ecosystem.

Nonetheless, challenges persist. African e-commerce faces infrastructure deficits and high costs, leading some companies to downscale operations. MaxAB-Wasoko itself has reduced offline activities to prioritize more capital-efficient digital growth.