MaxAB, the Cairo-based B2B e-commerce platform, announced the departure of its co-founder and Chief Operating Officer, Mohamed Ben Halim. The news comes just two months after the company’s high-profile merger with Nairobi-headquartered B2B e-commerce giant Wasoko, a move that has positioned the combined entity as a dominant force in Africa's informal retail sector.

A Key Departure After a Historic Merger

The exit of Mohamed Ben Halim, who co-founded MaxAB alongside Belal ElMegharbel in 2018, is significant due to his integral role in shaping the company’s success. His leadership, particularly in scaling MaxAB’s operations across Egypt and Morocco, has been a major driver behind the company’s rapid expansion over the past six years.

MaxAB’s merger with Wasoko, finalized in August 2024, brought together two of Africa’s largest B2B e-commerce platforms. The deal has created a formidable player in the continent’s informal retail market, with a combined network of over 450,000 merchants and 4,000 employees spanning five key African markets: Kenya, Tanzania, Rwanda, Egypt, and Morocco. The move aimed to streamline supply chains for small merchants and introduce new financial services, helping the combined company tap into Africa’s $600 billion retail market.

Halim’s departure comes at a critical moment, just as the newly merged entity begins its ambitious journey of integration and growth. His role in the merger’s success, including the alignment of operations and teams across regions, has been widely acknowledged by MaxAB, and his leadership has ensured a smooth transition as the two companies have united to form a cohesive, scalable operation.

Halim’s Impact on MaxAB’s Growth

Throughout his tenure at MaxAB, Mohamed Ben Halim was at the forefront of the company’s operational advancements. Under his watch, MaxAB developed a robust digital platform connecting small retailers with suppliers, addressing inefficiencies in Egypt and Morocco’s fragmented retail supply chains. His leadership helped MaxAB become a pivotal player in the region’s B2B sector, supporting small merchants who have traditionally been underserved by digital solutions.

Halim also played a key role in the launch of MaxAB’s Logistics as a Service (LAAS) vertical. This new offering extended the company's capabilities beyond B2B e-commerce, targeting broader supply chain needs across the region. LAAS became a critical revenue driver for the company as it diversified its portfolio and services, making MaxAB a more versatile player in the retail supply chain space.

His exit, therefore, raises questions about the company’s immediate leadership and its path forward as it navigates the post-merger phase with Wasoko. However, MaxAB has assured that the foundation set by Halim, particularly in the areas of operational efficiency and strategic vision, remains strong.

Vision for Growth and Profitability

Following the merger, Daniel Yu, Wasoko's founder and current co-CEO of the merged entity, outlined a strategic vision for MaxAB. The company has pivoted its focus from sheer Gross Merchandise Value (GMV) growth to a model that emphasizes profitability and innovation, particularly through fintech offerings.

Yu has been vocal about the importance of introducing financial services to the informal retail sector, which remains largely underserved by traditional banking. MaxAB has begun rolling out solutions such as digital payments and microloans to its merchant base, services that are now seen as key to driving profitability. According to Yu, fintech revenue is expected to double by the end of 2024, marking a significant milestone in the company’s shift toward a more sustainable business model.

The merger has also helped MaxAB and Wasoko consolidate operations, reduce costs, and improve efficiencies. Back-office functions across both companies have been unified, and teams from Egypt, Kenya, and other key markets are now working in synergy. The combined platform now operates in multiple African countries, and this operational integration has paved the way for future growth opportunities, including cross-border procurement and deeper penetration into underserved markets.

A New Chapter for Mohamed Ben Halim

In a statement released by MaxAB, the company expressed deep gratitude for Mohamed Ben Halim’s contributions over the years, acknowledging his pivotal role in the company’s success. “His contributions have left an indelible mark on MaxAB, and his impact will be felt for years to come. While we will miss his presence, we wish him every success in his future endeavors,” the statement read.

Though the specifics of Halim’s next steps remain unclear, MaxAB hinted that he is preparing to embark on a new chapter in his professional journey. As the company continues to build on the foundation he helped establish, MaxAB remains committed to its long-term goals of profitability, regional expansion, and service diversification.

MaxAB’s journey from a Cairo-based startup to one of Africa’s leading B2B e-commerce platforms has been remarkable, with Mohamed Ben Halim playing a central role in that growth. While his departure may signal a period of transition for the company, the merger with Wasoko has solidified MaxAB’s position in Africa’s informal retail market, setting the stage for future success.