Wasoko , a leading Kenyan B2B e-commerce platform, has countered recent reports that its would-be landmark merger with Egyptian counterpart MaxAB is stalling while addressing concerns about ongoing delays in the much-anticipated deal.
In an email to WT, Wasoko stated the deal is progressing as expected and in accordance with the initial terms, attributing the ongoing process to the standard complexities of large mergers.
This response follows industry whispers suggesting potential roadblocks in the deal, which was initially hailed as a huge moment for African tech. The December 2023 announcement envisioned the merged entity serving over 450,000 merchants across eight African countries, boasting a combined customer base exceeding that of any previous African B2B e-commerce player.
While Wasoko maintains a positive outlook, the fate of this merger carries significant weight for the African B2B e-commerce landscape, a sector currently navigating a period of turbulence.
Market disruptors facing disruptionsBefore the recent slowdown, African B2B e-commerce painted a picture of immense promise. Millions of informal retailers across the continent grapple with inefficient supply chains and limited access to credit. B2B e-commerce platforms like Wasoko and MaxAB emerged as potential solutions, connecting retailers directly with manufacturers and offering financing options.
