Mobile network Orange has announced a new €75 million investment in a Nigerian e-commerce company. The company is known as Africa Internet Group. The investment comes as Orange aims to step up their presence in Africa.
Thanks to the investment, Orange has joined MTN, Rocket Internet, Millicom, Goldman Sachs and AXA in becoming a shareholder in the company. Africa Internet Group owns several technology companies across 23 countries in Africa. This is a factor that AIG has in common with Orange, who are present in 12 African countries. The network believes that it can help online retailer Jumia and other websites to grow and seek development opportunities within the region.
Among the Africa Internet Group portfolio are the likes of e-commerce website Kaymu, the food delivery website HelloFood and the hotel booking platform Jovago.
The CEO of Orange, Stephane Richard said that the investment in AIG will allow Orange to continue ‘playing a leading role’ in the e-commerce market in Africa, which is growing fast. He added that in particular, in the 12 countries where the network already has a presence, the investment will allow the network to develop their ability to market products and services over the internet.
The investment is also part of a wider strategy. Mr Richard told the media earlier in April that the company plans to continue to grow in the Middle East and Africa. The network also plans to enter new markets in Europe, following the news that talks to merge with Bouygues Telecom in France fell through. Mr Richard said that Orange is hoping to move on swiftly from the failed deal, which would have been worth 10 billion Euros if it went ahead. He said that the network has had a ‘clear strategy’ through to 2020 and ‘French consolidation’ was not an element of it.
Orange was formerly present in the UK as a network, but merged with T-Mobile several years ago to create EE, which is now the largest network in the country.
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