
AfricaWorks Insights
May 20, 2025 at 02:32 PM
🚀 MaxAB-Wasoko has acquired Egypt’s Fatura from EFG Finance, accelerating its mission to unify Africa’s B2B commerce and fintech landscape. 🤝 The deal brings 626+ wholesalers, expands MaxAB-Wasoko’s reach to 5 new cities, and boosts its fintech capabilities, now financing 9%+ of e-commerce sales. 📈 With Fatura expected to drive 25% of Egypt revenue by 2025, this move cements MaxAB-Wasoko’s push to build a retail super app for African SMEs. 🌍
🚗 Egyptian startup Sylndr just raised $15.7M in Series A funding to scale its digital used-car marketplace — tackling Egypt’s fragmented auto market with transparency, financing, and servicing all in one platform. 💸 Founded in 2021, Sylndr has now raised over $30M and plans to expand inventory, tech, and brand reach as demand for affordable cars surges amid economic pressure. 🌍
The African Space Agency (AfSA) officially opened its doors in Cairo, marking a major step toward improving climate resilience, satellite infrastructure, and data-sharing across the region. With aims to launch satellites, expand climate monitoring, and unify fragmented space efforts, AfSA is set to boost Africa’s $19.5B space economy 📡. Backed by the AU and international collaborations, this move positions Africa as a serious player in global space innovation and sustainability. 🌌
📡 The state of Nigeria 🇳🇬 has secured $22M in foreign direct investment to expand its fibre optic network by 2,700km — pushing toward a total of 6,000km. Spearheaded by LASIMRA, the move boosts digital access, supports over 1M new internet users, and aligns with Governor Sanwo-Olu’s vision of making Lagos Africa’s top tech hub by 2025. 🚀

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