Orange to acquire 75 million-euro equity interest in Africa Internet Group

Orange says it will acquire a 75 million-euro equity interest in Africa Internet Group, joining AXA, Goldman Sachs and longstanding investors MTN Group, Millicom and Rocket Internet.

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By the investment, Orange will help Jumia and other websites run by Africa Internet Group to accelerate their growth and seize development opportunities in Africa.

wpid-orange.jpgStéphane Richard, Chairman and CEO of Orange said, this investment underscores Orange’s commitment to Africa, a high-growth territory where nearly one in ten inhabitants is an Orange customer, and confirms the Group’s determination to provide the best digital services to its customers.

“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. ”

On their part, Sacha Poignonnec and Jeremy Hodara, founders and co-CEOs of Jumia and Africa Internet Group, noted that they were thrilled by Orange’s equity investment and are eager to translate our strategic partnership into unique offers for our customers.

“Jumia and our other online consumer services give millions of African consumers an opportunity to access and transact with local companies in a new and very convenient way. With Orange’s support and expertise, combined with that of our existing long-standing shareholders, we will be able to further improve our service offerings and the customer experience while continuing to invest in our infrastructure”. they said.

 

Source: Newsghana.com.gh

 

 

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