Wasoko and MaxAB, Africa’s largest B2B network of informal retailers, has announced the appointment of Mo Elshenawy as an Independent Board Director and Technical Advisor.
Elshenawy is the President and Chief Technology Officer of Cruise.
In his new role, Elshenawy will drive the development and scaling of Wasoko and MaxAB’s technology infrastructure and help the entity advance its artificial intelligence (AI) tools and capabilities.
“Mo is a true trailblazer at the forefront of one of AI’s most exciting spaces, and we couldn’t be more excited to have him on board. His track record driving some of the most significant breakthroughs in autonomous technology speaks for itself, and his expertise is exactly what we need as we scale. ” Daniel Yu, Co-CEO of Wasoko and MaxAB, said.
Prior to his work at Cruise, Elshenawy led global technologies for Amazon’s ReCommerce Platform, Warehouse Deals and Liquidations – a global business enabling Amazon to evaluate, price, sell, liquidate and donate millions of used products daily. He’s also currently a Member of the Advisory Council for Software at Mercedes-Benz AG.
The announcement of Elshenawy’s appointment quickly follows the official completion of Wasoko and MaxAB’s merger in August 2024, which saw the company evolve from a B2B e-commerce platform into a diversified multi-vertical ecosystem. The combined entity now offers a broad suite of fintech services, including e-payments, credit financing, and digital service top-ups, streamlining the process for retailers to serve their customers both online and in stores.
In Egypt, its largest market, the fintech verticals have quickly surpassed B2B e-commerce, with digital services alone driving more than $180 million in annualised sales to 7 million consumers through 40,000 retailers.
Elshenawy joins MaxAB and Wasoko’s board alongside a number of key investors including Yousef Salam of Beco Capital, Monica Brand Engel of Quona Capital, Peter Orth of 4DX Ventures as well as the company’s co-CEOs, Daniel Yu and Belal El-Megharbel.
Elshenawy has already made a substantial impact on Wasoko and MaxAB’s operations, spearheading the implementation of the company’s advanced AI systems for automated pricing, product selection, demand prediction, and route optimisation.
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