Monday, September 29, 2025
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
No Result
View All Result
Home Acquisition

Chari, a Moroccan B2B eCommerce startup, has acquired AXA Credit for $22 million

Tech Gist Africa by Tech Gist Africa
03/06/2022
in Acquisition, Investments, Middle East and Africa, News - Middle East And North Africa
0 0
0
Chari Morocco

Chari Morocco

0
SHARES
Share on FacebookShare on Twitter

Chari, a Moroccan B2B e-commerce and retail startup, has paid $22 million for Axa Credit, the credit arm of Axa Assurance Maroc.

Morocco’s banking, insurance, and antitrust regulators must approve the deal before it can go through.

Ismael Belkhayat and Sophia Alj co-founded Chari, a platform that connects mom and pop stores to FMCGs and other manufacturers and allows them to order products that are delivered in 24 hours.

While now operating in Morocco and Tunisia, the business plans to expand to other Francophone African countries within the next several years.

For this reason, Axa Assurance Maroc is selling its loan business, Axa Credit, in order to focus solely on providing insurance coverage.

In order to complete the acquisition, Belkhayat indicated that the company will use its seed money, venture debt funds, and its negative working capital.

In Belkhayat’s view, Chari’s acquisition of Axa Credit will give it the credit license it needs to expand its loan offerings to more clients. In order to transition from closed-loop loans to open-loop loans, he stated.

As the general manager of Axa Morocco, Meryem Chami remarked: “We are delighted to announce a cross-selling collaboration between Axa Insurance Morocco and Chari.” Through this agreement, Axa Insurance will be in a better position to help the Moroccan economy become more inclusive while also expanding its market share.

Because its values align with those of the France-based bank’s lending arm to help foster financial inclusion in the country, Chari beat out many other bidders for the acquisition of Axa Credit.

 

Read more on Tech Gist Africa:

Kouncel, an Egyptian legal ed-tech business, has received $1.2 million in pre-seed funding

Milezmore, an Egyptian logistics startup, has secured a $5 million pre-seed round of funding

Susu, a healthtech firm based in Ivory Coast, has raised $1 million in order to expand insurance coverage in Africa

ShareTweet
Plugin Install : Subscribe Push Notification need OneSignal plugin to be installed.
Tech Gist Africa

Tech Gist Africa

Tech Gist Africa is a new media and technology news platform that focuses on the untold stories of innovative ideas closely connected to technology news from Africa.

Related Posts

Rekindle EpiTek
Acquisition

Rekindle Learning Acquires EpiTek to Forge Africa’s Premier Corporate Training Platform

by Tech Gist Africa
09/29/2025
0

Rekindle Learning, a leading South African digital learning company, has acquired Cape Town-based edtech startup EpiTek to create Rekindle EpiTek,...

Read more
Duaya EXMGO

Duaya Acquires EXMGO in Six-Figure Deal, Relaunches as Duaya Go to Revolutionize Pharmacy E-Commerce in Egypt

09/29/2025
Nvidia Intel

Nvidia has announced a $5 billion investment in Intel

09/29/2025
Justyol Morocco

Justyol, a Moroccan e-commerce startup has raised $1 million in funding

09/26/2025
Mavryk Network UAE

Mavryk Network Secures $10M to Revolutionize UAE Real Estate with Blockchain Tokenization

09/26/2025
Next Post
Microsoft

Microsoft will invest $500 million in African startups to help them grow

Rocket Health Uganda

Rocket Health, a Ugandan telemedicine startup, has raised $5 million in a Series A round

Naqla Egypt

Naqla, an Egyptian logistics startup, has raised $10.5 million in a pre-Series A funding round.

No Result
View All Result

The Big 5

Food Security

How Technology is Advancing Global Food Security and Reducing Hunger

by Tech Gist Africa
09/26/2025
0

...

Nvidia Abu Dhabi Robotics Lab

Nvidia and Abu Dhabi Institute Launch Middle East’s First AI & Robotics Lab

by Tech Gist Africa
09/26/2025
0

...

MultiChoice

Canal+ has officially completed its $3.17 billion acquisition of South Africa’s MultiChoice Group

by Tech Gist Africa
09/26/2025
0

...

216 Capital & Plug and Play Accelerator

216 Capital & Plug and Play Launch Tunisian Accelerator to Bridge Local Startups to Global Stage

by Tech Gist Africa
09/26/2025
0

...

Funding

Groundbreaking UK Tender Aims to Map East Africa’s Start-Up Financing Landscape

by Tech Gist Africa
09/26/2025
0

...

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

Copyright © 2020 Techgistafrica. All Rights Reserved

No Result
View All Result
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact

Copyright © 2019 TECHGISTAFRICA. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.