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Startups

Wasoko & MaxAB complete merger to disrupt eCommerce in Africa

 Wasoko and MaxAB have completed their merger in an all-stock transaction to establish a Pan-African platform for communities to access essential digital and physical goods. Wasoko and MaxAB’s newly-formed entity boasts the continent’s largest network of B2B informal retailers of more than 450,000...
Startups

Kenya’s Wasoko & Egypt’s MaxAB in merger talks to establish one of the biggest digital retail platform in Africa 

Wasoko and MaxAB, two of Africa's most prominent e-commerce companies, announced today that they have signed preliminary merger terms to join together as a combined entity to drive the transformation of Africa’s informal retail sector. This merger-of-equals will bolster...
Startups

Wasoko Founder Daniel Yu Steps Back From Full-Time Role After MaxAB Merger

Daniel Yu, founder of African B2B e-commerce company Wasoko, has stepped away from a full-time role at the firm, more than a year after its merger with Egyptian peer MaxAB. Yu launched Wasoko in 2014 with the goal of digitizing...
Startups

Mimi Alemayehou & Kurankye Sekyi-Otu Join 4DX Ventures As New Senior Advisors

Mimi Alemayehou and Kurankye Sekyi-Otu have been appointed as Senior Advisors at 4DX Ventures, an early stage pan-Africa venture capital firm to scale its platform and deepen its impact across the continent. Mimi Alemayehou has held global executive roles at...
Startups

MaxAB-Wasoko Acquires Fatura to Bolster its Pan-African E-Commerce Ambition

MaxAB-Wasoko, Africa's retail e-commerce and supply chain super app, has acquired Fatura, an Egypt-based B2B e-marketplace, from EFG Finance, a subsidiary of EFG Holding to consolidate the B2B commerce and fintech landscape across the continent. As part of the...
Startups

African E-commerce Wasoko marked down to $260M after investor adjusts investment

Swedish investment firm VNV Global, which supports startups in sectors like mobility, health, and marketplaces, recently adjusted the valuation of its investment in Wasoko, an African B2B e-commerce startup, downward by 48%. Launched in  Kenya in 2014 by Daniel Yu, the  B2B grocery...
Tech

Kenyan Court Halts Wasoko Layoffs Ahead of Merger, Employees Seek Clarity

A Kenyan court has temporarily blocked online retailer Wasoko from laying off nine employees, throwing a wrench into their planned merger with Egyptian firm MaxAB Limited. The nine employees, who deal with fast-moving consumer goods, argue that the company initiated...
Startups

Sokowatch raises $125M, launches in West Africa & rebrands to Wasoko

Sokowatch, the informal retail supply chain startup has closed a $125 million Series B equity round, officially launched in Abidjan, Côte d'Ivoire and Dakar, Senegal and rebranded to Wasoko, Swahili for 'the market people" as it pursues product growth...
Business

Multinational African Enterprises

Multinational African Enterprises such as Ecobank Transnational Incorporated (ETI) and MTN Group By Eric Osiakwan and Yaw Owusu Ecobank Transnational Incorporated (ETI), better known as Ecobank is a multinational African enterprise in the banking sector started in Lome, Togo with current...
Business

IFC Invests in New 4DX Ventures Fund to Support Tech Startups in Africa

IFC is investing $10.5 million in a new fund by 4DX Ventures, a New York-based venture capital firm focused on supporting early-stage African technology companies across a broad set of sectors, including fintech, e-commerce, edtech, climate tech, and health...
Startups

Namibian B2B e-commerce retail platform JABU raises $15M Series A funding for expansion.

JABU, a Namibian B2B e-commerce retail platform, has secured $15 million in Series A funding led  Tiger Global. Tiger Global is making its second investment in the B2B e-commerce industry after backing Wasoko in its mega Series B round. It's also...

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