Orange invests in Africa e-commerce industry

Orange aims for growth in AfricaTINTSWALO BALOYI
JOHANNESBURG, (CAJ News)- ORANGE has announced the acquisition of a 75 million-euro equity interest in Africa Internet Group.

The French mobile operator joins AXA, Goldman Sachs and long-standing investors MTN Group, Millicom and Rocket Internet. Through this investment, which will be accompanied by a series of
strategic partnerships between the subsidiaries of the two groups, Orange will help Jumia and other websites run by Africa Internet Group.

This is set to accelerate their growth and seize development opportunities
in Africa.

Since Jumia’s creation in Nigeria in 2012, Africa Internet Group has seen significant and continuous growth with ten online consumer businesses operating today in 23 African countries.

It has enabled more than 50 000 local and international companies to do business with African consumers.

Nigerian-established Jumia, the original platform, allows businesses to market their products and services online to Africa’s emerging middle

Officials said the investment underscored Orange’s commitment to Africa.

The continent is seen as a high-growth territory where nearly one in ten inhabitants is an Orange customer.

“We are particularly pleased to announce our entry into the capital of Africa Internet Group,” Stéphane Richard, Chairman and CEO of Orange, stated.

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Posted by on Apr 5 2016. Filed under Insurance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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