MaxAB-Wasoko Bets on Fintech Over E-commerce in Push for Profitable Growth Across Africa
- MaxAB-Wasoko is intensifying its focus on fintech to drive profitability in North and East Africa.
- The company is scaling back e-commerce efforts in Morocco to prioritize fintech growth.
- MaxAB-Wasoko's fintech operations in Egypt generate over $180 million in annual revenue.
The strategic pivot of MaxAB-Wasoko towards fintech is a necessary response to the challenges faced in the e-commerce sector. As margins tighten and competition intensifies, integrating financial services could provide a more sustainable revenue model. However, the success of this transition will depend on effective execution and market reception.
