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Orange invests €75M in African e-commerce firm

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Orange invests €75M in African e-commerce firm

Orange said April 5 that it acquired an equity stakeworth €75 million in Nigeriane-commerce company Africa Internet Group, whose online businesses operate in 23African countries.

The investment comes with a series of strategicpartnerships, which will allow Orange to help AIG-operated websites in boostingtheir presence across Africa.

AIG runs online sales platform Jumia, e-commerce marketplaceKaymu, food delivery site Hellofood and hotel booking site Jovago, among others.

Orange CEO Stéphane Richard said that the investment in AIGis part of the Essentials2020 strategic plan, which aims to develop theFrench telco's activities in the .

AIG's other investors include AXA, Goldman Sachs, 's MTN GroupLtd., Luxembourg-based Millicom International Cellular SA and 's Rocket Internet AG.