Introduction
Africa’s largest B2B network of informal retailers, Wasoko and MaxAB, recently announced the appointment of Mo Elshenawy, a distinguished leader in artificial intelligence, as their Independent Board Director and Technical Advisor. Elshenawy, currently President and Chief Technology Officer at autonomous vehicle company Cruise, brings extensive expertise in AI, robotics, and technology leadership, setting the stage for transformative growth following the landmark merger of Wasoko and MaxAB.
A Historic Merger to Scale African Technology
The recent Wasoko-MaxAB merger marks Africa’s largest tech consolidation to date, aimed at fast-tracking the combined entity’s transformation into a leading global technology company based in Africa. With Elshenawy's guidance, Wasoko and MaxAB intend to amplify their services across a vast network of 450,000 informal retailers. This strategic partnership is designed to expand the company's reach, connecting with over 65 million consumers across Africa and improving access to affordable goods and services.
Leveraging AI to Empower Retailers and Boost Efficiency
Elshenawy’s role will be crucial in shaping Wasoko and MaxAB’s technology-driven approach to streamline retail operations. By integrating advanced AI capabilities, such as automated pricing, product selection, demand forecasting, and route optimization, the company aims to create a more efficient, responsive supply chain. These AI-powered tools are expected to significantly enhance retailer support, fostering business growth and making essential goods more accessible.
A Unique Perspective with Global Impact
Elshenawy, an Egyptian-American leader, brings a valuable perspective on Africa’s emerging technology landscape and the role of small businesses in economic empowerment. His appointment signals Africa's growing significance in global technology, as he aims to harness local insights and drive solutions suited to African markets while showcasing the continent’s innovation potential.
Expanding Beyond B2B E-Commerce to Fintech
The merger has also diversified Wasoko and MaxAB’s offerings, creating a multi-vertical ecosystem that extends well beyond traditional B2B e-commerce. Now offering fintech services such as e-payments, credit financing, and digital top-ups, the company has experienced substantial growth, particularly in Egypt, where fintech services have overtaken e-commerce in scale and reach. This shift underscores the company’s focus on creating a well-rounded service offering to better meet the diverse needs of African consumers.
Poised for Transformation Across Africa’s Retail Landscape
With Elshenawy’s technical leadership and the support of key investors, Wasoko and MaxAB are positioned to drive significant change in Africa’s retail ecosystem. By strengthening the capabilities of informal retailers and enhancing access to essential goods, the company aims to stimulate economic growth, improve livelihoods, and establish itself as a transformative force in African retail.
