REG - EFG Holding S.A.E. - EFG Finance Approves Acquisition of Fatura

EFG Holding SAEAnnouncement

19/05/2025 14:30

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RNS Number : 2595J  EFG Holding S.A.E.  19 May 2025

 
 

EFG Finance Approves Acquisition of Fatura by MaxAB-Wasoko, Accelerating
Pan-African B2B and Fintech Services Rollout and Ambitious Expansion

Strategic Partnership Solidifies E-Commerce & Supply Chain Platform,
Unlocks New Value for Retailers, and Signals Bold Growth Across Africa

Cairo, Egypt - May 19, 2025

EFG Finance, an EFG Holding company, proudly announces it has reached an
agreement for MaxAB-Wasoko, the region's leading e-commerce and supply chain
super app, to acquire Fatura, its Egypt-based B2B e-marketplace. This
multifaceted partnership results in EFG Finance becoming a significant
shareholder in MaxAB-Wasoko and securing a seat on its board.

This acquisition marks a pivotal step in MaxAB's broader strategy to
consolidate the B2B e-commerce and fintech space across Africa. Following last
year's transformative merger with Wasoko, which expanded their
 footprint into Kenya, Rwanda, and Tanzania, MaxAB-Wasoko continues to
execute on its vision to create a truly pan-African platform that delivers
comprehensive, tech-enabled solutions tailored to local market needs.

"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," said Belal El-Megharbel, CEO of MaxAB-Wasoko. "By bringing together
operational strength, product depth, and innovative fintech offerings, we're
setting a new standard for retail across the region."

With Fatura fully integrated into the MaxAB-Wasoko platform and unified under
the company's      brand, retailers will immediately benefit from a
broader, more comprehensive product assortment, critical in a fragmented
supply chain environment where no single distributor can meet all retailer
needs. Fatura's impressive reach, having onboarded over 626 wholesalers in 16
cities (including five new cities for the platform, ensures greater
flexibility and convenience for small and medium-sized retailers.

Aladdin ElAfifi, CEO of EFG Finance, stated: "We are thrilled to partner with
MaxAB-Wasoko as they reshape the retail and supply chain sectors. 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".

Additionally, MaxAB's embedded financial services will unlock expanded credit
access for purchases made by its expanding merchant network. This innovative,
tech-driven approach empowers retailers with the working capital needed to
stock more, sell more, and grow their businesses sustainably.

Fatura, founded in 2019 and acquired by Tanmeyah (an EFG Holding subsidiary)
in 2022, brings a scalable, asset-light marketplace model that perfectly
complements MaxAB's robust end-to-end supply chain from procurement to
last-mile delivery. This combination unlocks access to a broader range of
suppliers and products, delivering unmatched value through choice and
convenience.

The integration is expected to drive significant topline growth and
operational efficiency over the next 12-18 months. In the near term, the
Fatura marketplace is projected to contribute approximately 25% of MaxAB's
Egypt revenue by year-end, with strong momentum and exponential growth
anticipated as the model is rolled out across the company's other African
markets.

Since the merger of Wasoko and MaxAB, the combined entity has achieved
remarkable growth across its fintech and e-commerce verticals. The company's
fintech business has doubled in Egypt, expanded to Morocco, and now provides
credit solutions that finance over 9% of e-commerce sales, underscoring strong
demand from retailers for digital financial services. Operational enhancements
and improved supplier terms have further strengthened the company's  regional
supply chain capabilities, setting the stage for scalable expansion.

Together, MaxAB-Wasoko and EFG Finance are building the future of African
retail an integrated, tech-enabled ecosystem that empowers retailers, improves
supply chain efficiency, and propels economic growth across the continent.

-End of Release-

About EFG Holding

EFG Holding (EGX: HRHO.CA - LSE: EFGD) is a financial institution that boasts
a remarkable 40-year legacy of success in seven countries spanning two
continents. Operating within three distinct verticals - the Investment Bank
(EFG Hermes), Non-Bank Financial Institutions (NBFI) (EFG Finance), and
Commercial Bank (Bank NXT) - the company provides a comprehensive range of
groundbreaking financial products and services tailored to meet the needs of a
diverse clientele, including individual clients and businesses of all sizes.

EFG Hermes, the leading investment bank in the Middle East and North Africa
(MENA), offers extensive financial services, encompassing advisory, asset
management, securities brokerage, research, and private equity. In its
domestic market, EFG Holding serves as a universal bank, with EFG
Finance emerging as the fastest-growing NBFI platform, comprising Tanmeyah,
a microfinance player, EFG Corp-Solutions, which provides leasing and
factoring services, Valu, a universal financial technology
powerhouse, Bedaya for mortgage finance, Kaf for insurance and EFG Finance
SMEs which provides financial services for small and medium enterprises.
Furthermore, the company delivers commercial banking solutions through Bank
NXT, an integrated retail and corporate banking product provider in Egypt.

Proudly present in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait |
Bahrain | Kenya | Nigeria

Learn more about us at www.efghldg.com (http://www.efghldg.com/)

About MaxAB-Wasoko

 

MaxAB-Wasoko is Africa's leading retail e-commerce and supply chain super app,
serving informal retailers across the Middle East and Africa.

 

In 2024, MaxAB and Wasoko finalized a landmark merger, bringing together two
pioneering forces in digital retail infrastructure - MaxAB's market leadership
in Egypt and Morocco, and Wasoko's dominance in Kenya, Tanzania, and Rwanda.

 

The combined company empowers hundreds of thousands of underserved merchants
and local shop owners by providing access to quality goods, competitive
pricing, and integrated financial services through a unified, mobile-first
super app. Retailers can restock inventory with free 24 hours delivery, access
working capital through embedded financing solutions, and leverage digital
tools to grow their businesses and improve livelihoods.

 

For further information, please contact:

May El Gammal

Group Chief Marketing & Communications Officer of EFG Holding

melgammal@efghldg.com (mailto:melgammal@efghldg.com)

Omar Salama

Associate Director of Communications of EFG Holding

osalama@efghldg.com (mailto:osalama@efghldg.com)

 

The EFG Holding Public Relations Team

PublicRelations@efghldg.com (mailto:PublicRelations@efghldg.com)

 

Note on Forward-Looking Statements

In this press release, EFG Holding may make forward-looking statements,
including, for example, statements about management's expectations, strategic
objectives, growth opportunities, and business prospects. These
forward-looking statements are not historical facts but instead represent only
EFG Holding's belief regarding future events, many of which, by their nature,
are inherently uncertain and are beyond management's control and include,
among others, financial market volatility; actions and initiatives taken by
current and potential competitors; general economic conditions and the effect
of current, pending, and future legislation, regulations and regulatory
actions. Accordingly, the readers are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date on which they are
made.

 

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