A Kenyan eCommerce startup, Wasoko, is closing its operations in Tanzania and hitting pause on activities in Uganda and Zambia. However, it’s still keeping ties with Silicon Zanzibar as a “private sector ambassador.”
The company will stay active in Kenya, Rwanda, and the Democratic Republic of Congo. This move is part of a bigger restructuring to focus on stronger markets.
Back in December 2023, Wasoko announced plans to merge with MaxAB, an Egyptian eCommerce giant, aiming to serve 65 million customers across eight African markets. But since then, things haven’t been smooth.
Co-founder Josh Raine and key executives like the CFO and CTO left, along with the HR head in February 2024.
It’s not just the leadership feeling the impact. About 10% of the staff were let go in January due to overlapping roles post-merger announcement. Former employees are taking legal action, claiming they were short-changed with their exit packages.
With all these changes, Wasoko’s future remains uncertain, leaving us to wonder what lies ahead for this African eCommerce player.
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