#Orange announced its acquisition of a €75 million equity interest in Africa Internet Group this morning in an official email.
The investment would see them joining AXA, Goldman Sachs and longstanding investors MTN Group, Millicom and Rocket Internet and Orange will help Jumia, Hellofood, Kaymu, Vendito and other websites run by Africa Internet Group to accelerate their growth and seize development opportunities in Africa.
According to Stéphane Richard, Chairman, and CEO of Orange,
“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.”
This investment puts clearly Orange’s commitment to Africa, a high-growth territory where nearly one in ten inhabitants is an Orange customer.