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Morocco’s Chari acquired Ivorian Retail startup Diago

Morocco’s B2B E-commerce platform Chari acquired a 100% stake in Diago, an Ivorian retail app. Chari is a digital FMCG and financial services distributor aimed at small retailers in French-speaking Africa, whereas Diago is an Ivorian app that connects neighbourhood shops with FMCG producers/importers. Chari began operations in Morocco in 2020 and plans to expand to Tunisia in early 2022.

Chari primarily acquired Diago in an all-stock transaction. The companies announced that the founders, Ali and Amidou, will continue to serve as CEO and COO, respectively, and will oversee local business growth before expanding into other Sub-Saharan African countries. "Diago's entire team will receive Chari's full support functions," said Cyrille Jacques, Vice-President of Chari in charge of leading international expansion.

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