Baker McKenzie Cairo Advises EFG Finance on its strategic investment in MaxAB-Wasoko and the contribution of Fatura into the MaxAB-Wasoko platform
Cairo, Egypt, 22 May, 2025, Baker McKenzie Cairo has advised EFG Finance, an EFG Holding company, and its Non-Bank Financial Institutions (NBFI) Platform, in connection with its strategic investment in MaxAB-Wasoko, the Africa-focused B2B e-commerce and supply-chain platform, and its sale of Fatura LLC. (“Fatura”), EFG Finance’s Egypt-based B2B e-marketplace, to MaxAB-Wasoko group.
The deal accelerates the enhancement of MaxAB-Wasoko's B2B e-commerce capabilities in Egypt and secures for EFG Finance a significant stake within the platform. The transaction follows the merger that took place last year between MaxAB and Wasoko which was an important strategic play in Africa's retail supply-chain sector.
Leading on the transaction, Hani Nassef, Partner and Head of M&A at Baker McKenzie Cairo, said: "We are very happy to have supported the EFG Finance team and MaxAB-Wasoko on this strategic transaction. The deal enhances the platform's capabilities in Egypt MaxAB-Wasoko, supports the growth ambitions of the EFG Holding group and underscores yet another milestone in creating a more integrated ecosystem across Africa in the retail supply-chain space. Glad that we were able tcontribute to this success."
Zeinab Shohdy, M&A Counsel at Baker McKenzie Cairo, who co-led the deal added: "This transaction marks a pivotal step in strengthening MaxAB’s range of services in the B2B commerce sphere. It was a privilege to support EFG Finance and MaxAB-Wasoko in shaping a more connected and efficient retail ecosystem across the region."
By acquiring Fatura, MaxAB-Wasoko will be able to offer B2B e-commerce solutions as part of its integrated services to its vast network in Africa strengthening its position in the competitive e-commerce landscape.
The Baker McKenzie cross-border team included lawyers from:
- Cairo: Hani Nassef (partner), Zeinab Shohdy (counsel), Chirouette Elmasry (associate), Hayna Abdelrahim (associate), Hala Mohamed (associate), Hanna Ahmed (associate).
- Amsterdam: Joost Polman (partner), Willem Jan Treuren (senior associate), Casper Henschen (associate), Anastasia Boonen-Vaes (associate), Hein Blaauwendraad (associate).
- Casablanca: Keltoum Boudribila (partner), Kamal Nasrollah (partner), Kenza Zerkdi (associate), Driss Jai (associate).
Support on Kenyan law aspects of the transaction was provided by Anjarwalla & Khanna LLP Anjarwalla & Khanna LLP.