<article>French telecommunications company<a href="http://www.dealstreetasia.com/?s=Orange"> Orange </a>is to invest 75 million euro ($85 million) in Nigerian e-commerce group <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Africa+Internet+Group">Africa Internet Group (AIG)</a> and become a shareholder, the two companies said on Tuesday.</article>

French telecommunications company<a href="http://www.dealstreetasia.com/?s=Orange"> Orange </a>is to invest 75 million euro ($85 million) in Nigerian e-commerce group <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Africa+Internet+Group">Africa Internet Group (AIG)</a> and become a shareholder, the two companies said on Tuesday.
AIG, which was founded in Nigeria in 2012, already counts Goldman Sachs, South African telecoms group <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=MTN">MTN </a>and Germany&#8217;s <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Rocket+Internet">Rocket Internet</a> among its shareholders.
It owns several technology firms across 26 African countries including online retailer <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Jumia">Jumia</a>, delivery app <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=HelloFood">HelloFood</a>, hotel booking platform <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Jovago">Jovago</a> and online real estate marketplace <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Lamudi">Lamudi</a>.
&#8220;With this strategic investment, Orange now has the capacity to play a leading role in the fast-growing e-commerce market in Africa,&#8221; Stéphane Richard, chairman and CEO ofOrange, said in a joint statement with AIG.
&#8220;This investment will enable us to significantly develop our ability to market products and services developed by OrangeMiddle East and Africa over the Internet,&#8221; he added.
Orange said last week that it plans to grow in Africa, among other regions, after its talks to buy French peer Bouygues Telecom collapsed.
&#8220;We are thrilled by Orange&#8216;s equity investment and are eager to translate our strategic partnership into unique offers for our customers,&#8221; said AIG founders and co-CEOs Sacha Poignonnec and Jeremy Hodara.
Last month AIG announced additional funding worth a total of 225 million euros
Also Read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/rocket-internets-property-portal-lamudi-gets-31-4m-fresh-funds-asia-push-29683/">Rocket Internet’s Lamudi gets $31.4m fresh funds for Asia push</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/revenue-jumps-at-rocket-internets-top-start-ups-14067/">Revenue jumps at Rocket Internet’s top start-ups</a>
Reuters

French telco Orange to invest $85m in Nigerian Rocket Internet-backed e-commerce group Africa Internet

French telco Orange to invest $85m in Rocket-backed Africa Internet Group

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

French telco Orange to invest $85m in Rocket-backed Africa Internet Group

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief