Africa Internet Group attracts investment from Orange

Orange has acquired a €75 million equity interest in Africa Internet Group.

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 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, 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).

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

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

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