https://techcrunch.com/2023/12/22/maxab-and-wasoko-in-merger-talks/

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. They say talks are still ongoing and the agreement hasn’t been finalized yet.

The merger talks come as B2B e-commerce companies in Africa continue to scale back operations due to funding scarcity. Wasoko has been no exception: it recently conducted its largest round of layoffs, which affected most of its employees in Kenya, including some of the company’s executives. Earlier in the year, it left Senegal and Ivory Coast markets and closed hubs, including the one in Mombasa, Kenya, amid a push for profitability.