Orange Telecoms Injects €75million Into Nigerian e-Commerce Firms

Giant telecommunications firm, Orange Telecom has announced a €75 million investment in a Nigerian e-commerce company, Africa Internet Group, AIG, which owns a host of internet start-ups in the country and beyond.
Orange said that it will help online retailer, Jumia, and other websites run by the company to accelerate growth and seize development opportunities in the region.

Other groups among AIG’s portfolio include e-commerce marketplace, Kaymu, food delivery website, Hellofood, and hotel booking platform, Jovago.

Orange chief executive officer, Stephane Richard, said that the strategic investment now helps the French operator to “play a leading role in the fast growing e-commerce market in Africa. In particular, across the 12 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 and Africa over the internet.”

AIG, last month, also secured an additional funding worth $245 million. As part of Orange’s wider goals, Richard said that the company plans to continue to grow in Africa and the Middle East as well as consolidate and enter new markets in Europe.

Orange, through the investment, which has a common presence with AIG in 12 African countries, joins MTN, Millicom, Rocket Internet, AXA and Goldman Sachs in becoming a shareholder in AIG which owns a number of technology firms across 23 African countries.

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