Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

AIG (Owners of Jumia) Gets 75 million Euro Equity Investment From Orange

Nairametrics by Nairametrics
April 5, 2016
in Business News, Corporate deals
[VIDEO] Jumia Says Black Friday Sales Was 25% More Than Other Days
Share on FacebookShare on TwitterShare on Linkedin

Orange (www.Orange.com) has announced the acquisition of a 75 million-euro equity interest in Africa Internet Group owners of Jumia, Jovago etc. They have now joined AXA, Goldman Sachs and longstanding investors MTN Group, Millicom and Rocket Internet in taking equity in the company.

According a press release issued by the company, the investment which will be accompanied by a series of strategic partnerships between the subsidiaries of the two groups, will help Jumia and other websites run by Africa Internet Group to accelerate their growth and seize development opportunities in Africa.

Here is an excerpt of the press release;

RelatedPosts

Over N3 billion at stake as frustration, uncertainty clouds investors at Foxygreen

NAHCO Plc appoints Dr. Olusola Peter Obabori as Executive Director

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, enabling more than 50,000 local and international companies to do business with African consumers.

Jumia, the 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).

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.

Stéphane Richard, Chairman and CEO of Orange, stated: “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. 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.”

Sacha Poignonnec and Jeremy Hodara, founders and co-CEOs of Jumia and Africa Internet Group, commented: “We are 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”.

Related

Tags: Real Estate News

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Hot forex
Cornerstone
Mega Millions
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB
Ikeja Electrics




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • NNPC says over 200 illegal refineries operating in Nigeria, proffers solutions to energy crisis
    • Over N3 billion at stake as frustration, uncertainty clouds investors at Foxygreen
    • Health Preparedness: Ogun, Bayelsa, Delta states top as Lagos drops to 5th place – SBM

    Follow us on social media:

    Recent News

    How NNPC made N287 billion profits in 2020

    NNPC says over 200 illegal refineries operating in Nigeria, proffers solutions to energy crisis

    June 29, 2022
    Foxygreen

    Over N3 billion at stake as frustration, uncertainty clouds investors at Foxygreen

    June 29, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com