Egypt: EFG Finance greenlights Fatura's acquisition by MaxAB-Wasoko
Arab Finance: EFG Finance, the non-bank financial institution's arm of EFG Holding, has approved the acquisition of its business-to-business (B2B) platform Fatura by MaxAB-Wasoko, a regional e-commerce and supply chain super app.
The transaction supports MaxAB's broader strategy to consolidate the B2B e-commerce and fintech space across Africa.
Belal El-Megharbel, CEO of MaxAB-Wasoko, commented: '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.'
Fatura will integrate into the MaxAB-Wasoko platform and be unified under the company's brand, enabling the retailers to leverage a wider and more comprehensive product variety to meet all needs.
The acquisition will accelerate MaxAB-Wasoko's pan-African expansion, with Fatura expected to contribute 25% of Egypt's revenue by year-end.
The combined entity is rapidly expanding in fintech and e-commerce, already financing more than 9% of sales across Egypt and Morocco.
Fatura's services have reached 626 wholesalers in 16 cities, which ensures greater flexibility and convenience for small and medium-sized retailers
MaxAB's embedded financial services will unlock expanded credit access for purchases implemented through its merchant network.
The integration is projected to drive significant topline growth and operational efficiency over the next 12–18 months.
Aladdin ElAfifi, CEO of EFG Finance, stated: '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.'
Established in 2019 and acquired by EFG Holding's unit Tanmeyah in 2022, Fatura brings a scalable, asset-light marketplace model that perfectly complements MaxAB's end-to-end supply chain from procurement to last-mile delivery.
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