Merger Discussions Between Top African B2B E-commerce Giants MaxAB and Wasoko

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Egyptian B2B e-commerce startup MaxAB and Wasoko, a Kenya-based e-commerce player with operations in Tanzania, Rwanda, Uganda and Zambia, are in talks to merge operations, TechCrunch has exclusively learned from multiple sources. The merger talks come as B2B e-commerce companies in Africa continue to scale back operations due to funding scarcity. TechCrunch learned that the company had only received $30 million by the time merger talks, which are said to be investor-led, started. As of last year, the prospect of a merger between MaxAB and Wasoko, both asset-heaving B2B e-commerce startups, seemed unlikely. The eight-year-old B2B e-commerce company has since expanded to Zambia and the Democratic Republic of Congo.