Africa Internet Group, the parent company of Jumia, Africa’s leading e-commerce platform, announced a €300 million financing from MTN, Rocket Internet, AXA and Goldman Sachs.
“This investment is a recognition of the success that Jumia has already achieved and provides us with a strategic flexibility to further support our efforts to offer the best shopping experience to our customers,” said founders and co-CEOs of Jumia and AIG, Sacha Poignonnec and Jeremy Hodara, said.
“We are delighted to welcome AXA and Goldman Sachs as new investors and are also grateful for the continued confidence from our existing shareholders. To us, it is a recognition of the quality of our operations across the African continent and an affirmation of the significant growth potential of Jumia.”
MTN Group Chief Digital Officer, Herman Singh, said the company was extremely encouraged by its partnership with Jumia, which built the business into one of the leading eCommerce platforms in Africa.Mr. Singh said MTN believes that Jumia strongly reinforces its digital offering, adding that the company would continue to support the company with its knowledge of the market.
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