The merger of Wasoko and MaxAB to Develop the Informal Retail Sector in Africa
The companies Wasoko and MaxAB, which are among the most prominent e-commerce companies in Africa, have announced a historic strategic merger aimed at achieving a major transformation in the informal retail sector on the continent. This merger is the result of the bold vision of both companies and their joint pursuit to offer a distinguished e-commerce platform that serves both consumers and merchants alike.
Huge Customer Base:
The merged entity will have a massive customer base, including more than 450,000 merchants, serving over 65 million consumers across the African continent. This means that small and medium-sized merchants will be able to access new markets and increase their sales thanks to the strong infrastructure and support provided by the unified entity.
Innovative Vision:
Regarding this historic merger, Bilal El-Maghraby, CEO of MaxAB, says: “Our merger represents a real opportunity to enhance the development of the informal retail sector in Africa by offering advanced e-commerce services, innovative financial technology solutions, and superior logistics services.”
Revenue Increase:
Since the beginning of 2023, Wasoko has experienced a tremendous increase in monthly revenue by more than 30%, while the merchant network in Sub-Saharan Africa has grown by more than 20%. This reflects the exceptional superiority of both companies in providing services that meet the aspirations of merchants and consumers alike.
Excellence and Sustainable Improvement:
Clearly, this merger will significantly contribute to enabling both companies to succeed and sustain in the African continent. The merged entity will achieve greater profitability and expand the scope of its business, working to offer better customer experiences and improve the services it provides.
African Collaboration:
Wasoko and MaxAB also intend to enhance wider collaboration in enabling more intra-African trade and introducing innovative technologies to boost markets across the continent.
The merger of Wasoko and MaxAB is an important strategic development in the informal retail sector in Africa, contributing to the improvement of e-commerce services and providing new opportunities for merchants, and achieving sustainable development on the continent.
