MaxAB co-founder & COO exits 2 months post-mega merger

MaxAB

Following a high-flying tie-up with Wasoko, the Egyptian-born startup announces the departure of Mohamed Ben Halim, who has spent 6 years working with the company

Courtesy: Business School Lausanne

MaxAB, an Egyptian B2B e-commerce heavyweight, has announced the departure of its co-founder and Chief Operating Officer, Mohamed Ben Halim, less than 2 months after the Egyptian startup finalized a high-profile merger with Kenya’s Wasoko. Key to steering MaxAB through early growth and recent merger leaves at a pivotal time for the newly expanded venture.

Having co-founded MaxAB in 2018, Ben Halim was central to its rise across Egypt and Morocco. Under his watch, it built a robust distribution network, connecting small, often underserved retailers to suppliers via a seamless digital platform. He also captained the rollout of a Logistics as a Service (LAAS) vertical, extending capabilities beyond B2B e-commerce, tapping the region’s broader supply chain needs.

Halim's exit comes shortly after MaxAB joined ranks with Wasoko (in August 2024), hailed as the largest African B2B e-commerce consolidation. The merger brought together two of the continent’s biggest players in informal retail to create a category king serving hundreds of thousands of small merchants. It positioned the combined entity to tap a $600 billion market, with plans to streamline supply chains and introduce financial services.

The timing, so soon after the merger, stirs thoughts about leadership transition. In the months leading up to the merger, Halim oversaw complex integration efforts, aligning operations, and preparing the ground for future trajectory. His leadership helped ensure a smooth merger, uniting teams from MaxAB and Wasoko to form a cohesive, scalable operation.

Following the merger, Daniel Yu, now co-CEO, laid out a vision to expand MaxAB’s core e-commerce offerings and ramp up fintech. With the informal retail largely underserved by traditional banking, they have experimented with digital payments, micro-loans, and other financial services, now seen as vital for driving higher margins.

Yu noted fintech revenue is expected to beyond double by 2024 end, setting a path to profitability—away from earlier focus on Gross Merchandise Value (GMV) growth.

Despite operational challenges, including merging the two businesses and streamlining costs, the unified platform now serves over 450,000 merchants across multiple African countries. Operational synergies are paying off; back-office functions have been consolidated and costs reduced. This improved efficiency, paired with a shift in focus from volume to profitability, preps the business for competitive turf.

Halim’s exit ends his 6-year chapter for MaxAB. His contributions to the company’s growth—from its humble beginnings in Cairo to its evolution into a regional leader—are undeniable. In a LinkedIn post, the firm expressed gratitude for his years of service, while also reaffirming commitment to long-term goals post-merger.

"His contributions have left an indelible mark on MaxAB, and his impact will be felt for years to come," MaxAB's statement reads. "We extend our heartfelt thanks to Mo for his unwavering dedication and countless contributions. While we will miss his presence, we wish him every success in his future endeavors. Mo will always remain a cherished part of the MaxAB family".

MaxAB’s future is focused on sustaining profitability and expanding its influence in Africa’s retail sector. The combined entity is poised to explore new growth opportunities, including cross-border procurement and deeper penetration into underserved markets. 

Though Halim’s departure brings a bit of uncertainty, the foundation he helped set positions MaxAB to thrive in its next development phase.

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