Sary, the leading B2B e-commerce platform in the MENAP has announced its acquisition of “Mowarrid”, one of the leading B2B marketplaces in Egypt.
This acquisition reflects a strategic move for Sary toward its expansion plans throughout the North African markets starting from Egypt, the second-largest economy in Africa, and the third-largest in the Arab world with a $60 billion wholesale and retail trade industry.
This acquisition is the beginning of multiple expansion activities for the company toward its vision to lead the B2B e-commerce in the emerging markets starting with MENAP enabling a regional network to connect buyers and sellers throughout the different markets.
Mohammed AlDossary, co-founder and CEO of Sary commented, “we are excited to join forces with Ahmed and the amazing team at Mowarrid, their hyperlocal understanding of the Egyptian market is profound, and we believe that our visions are in harmony toward reinventing the B2B ecosystem across the region”
He added. “Egypt is a strategic market for us and has a huge synergy with the Saudi and GCC markets. The industry has witnessed significant growth in the past years with very strong digitization in the wholesale and retail trade industry which accounted for around 15% of Egypt’s GDP.”
