Kenyan e-commerce firm Wasoko is in talks to merge with Egyptian B2B e-commerce startup MaxAB, aiming to connect consumer goods companies with Africa’s informal traders. The talks are ongoing and the agreement hasn’t been finalized yet. The potential deal highlights the role of investors with stakes in both companies. This merger reflects a common theme in African tech M&A this year. The move is significant in the context of African tech and the growth of e-commerce in the region.
Since Angel investing in Europe and Africa . I’ve seen so many disparities. African startup founders are super passionate about infrastructure problems and are already solving them before they seek investment.
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Let me explain this with more depth. When Bloomberg or The Verge breaks a tech story, there's a high chance other publishers will pick it up, and perhaps do follow on reporting. It's good practice. But when an Africa-focused publication breaks a major tech story, the same… https://t.co/94vVX1MLsi
Huge news if this deal between Kenya's @Wasoko_official & Egypt's MaxAB gets done Either way though, it highlights a common theme in African tech M&A this year that's perhaps underappreciated: The role of investors who have stakes in both the potential acquirer & the target co https://t.co/MYHGuvtdJT https://t.co/R5waLHL1BM
Scoop w/@AnnieNjanja: Two of Africa's largest B2B e-commerce platforms MaxAB and Wasoko are in talks to merge operations, TechCrunch has exclusively learned from multiple sources. They say talks are still ongoing and the agreement hasn’t been finalized yet https://t.co/dwniFVdqHH
Scoop w/@AnnieNjanja: Egyptian B2B e-commerce startup MaxAB and Kenyan-based player are in talks to merge operations, TechCrunch has exclusively learned from multiple sources. They say talks are still ongoing and the agreement hasn’t been finalized yet. https://t.co/dwniFVcSS9
Kenyan based e-commerce firm Wasoko is merging with an Egyptian counterpart to link consumer goods companies with Africa’s informal traders of essentials such as rice, flour and soap https://t.co/cB1SEngmXk