Orange has made a €75 million equity investment in Africa Internet Group and has said its African subsidiaries will strike strategic partnerships with the African company’s subsidiaries across the continent.
Africa Internet Group, which is also backed by AXA, Goldman Sachs, MTN Group, Millicom and Rocket Internet, operates 10 online consumer businesses across 23 African countries.
Jumia, the group’s original platform, allows businesses to market their products and services online to Africa’s emerging middle class. Other services offered by Africa Internet Group include an e-commerce marketplace (Kaymu), websites offering food delivery (Hellofood) and hotel booking (Jovago), as well as online classified ads for general merchandise (Vendito), real estate (Lamudi), jobs (Everjobs) and vehicles (Carmudi).
Orange said it would help Jumia and other websites run by Africa Internet Group to accelerate their growth and seize development opportunities in Africa.
“We are particularly pleased to announce our entry into the capital of Africa Internet Group. With this strategic investment, Orange now has the capacity to play a leading role in the fast-growing e-commerce market in Africa. This acquisition is combined with the signature of several important partnership agreements that will create value for all parties,” said Stephane richard, Chairman and CEO of Orange.
“In particular, across the twelve countries where we have a common presence, this investment will enable us to significantly develop our ability to market products and services developed by Orange Middle East & Africa over the Internet. This operation, initiated by our corporate investment fund Orange Digital Ventures, is fully aligned with our strategic plan, Essentiels2020, particularly with regards to our ambition to reinvent customer service, develop the digital channels and services offered to customers as well as our ambition to develop our activities in Africa and the Middle East.”
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