Tag Archives: Africa Internet Group

Africa Internet Group: Latest News

  • 12 Things You Didn’t Know About Africa’s First Startup Unicorn

    Africa Internet Groups rebrands as Jumia Group. Photo - Innov8tiv By Peter Pedroncelli, 6:37 pm AFKI Original

    History was made in 2016 when Africa could finally celebrate its first startup unicorn, with the Africa Internet Group, now known as Jumia Group, being valued at over $1 billion in February last year. In doing so, it became the first privately owned startup to gain unicorn status, joining an elite group of 150 or so companies around the globe. The company is based in Lagos, Nigeria, and operates as a subsidiary of Millicom International Cellular S.A, using a sales approach similar to Amazon.

  • Interview: Jovago Leans On Local Tourism To Grow In East Africa

    Jovago By Kevin Mwanza, 4:10 am AFKI Original

    Africa’s largest hotel booking website, Jovago, is counting on its focus on local travelers across the continent to wave through a slowdown in tourist numbers in East Africa, one of its leading markets, due to increased terrorism threat. Estelle Verdier-Watine, Jovago’s Eastern and Southern Africa managing director, told AFKInsider the startup was edging closer to breaking even in the region despite reduced tourism activity in Kenya, one of the region’s largest tourist market.

  • Africa Internet Group To Rebrand All Startups Into Jumia Subsidiaries

    Africa Internet Group By Staff, 3:50 am

    Africa Internet Group (AIG), a subsidiary of Rocket Internet, is renaming its companies in the African market to become part of one huge Jumia brand. This means all startups under AIG are undergoing some form of rebranding or the other. Basically, their names are going to be changed to Jumia-something. Jovago will become Jumia Travel, Lamudi will be Jumia House, HelloFood is morphing into Jumia Food, Carmudi will be Jumia Cars, Vendito will become Jumia Deals, and Everjobs will be known as Jumia Jobs.

  • Africa’s e-Commerce Deals Are Mostly Done On Mobile Phones

    Africa's e-Commerce By Kevin Mwanza, 4:44 am

    Mobile phones are driving e-commerce sales in Africa as more people on the continent acquire smartphones and internet use, especially in urban areas, rise, a new report by performance marketing firm, Criteo has shown. The report showed that the number of retail e-commerce transactions taking place through smartphones in Nigeria spiked by 73 percent within the first quarter of 2016

  • Africa’s First Tech Unicorn Gets Another Investor

    tech startups By Kevin Mwanza, 5:31 am

    Africa’s first tech unicorn, e-commerce websites holding company Africa Internet Group (AIG), has received $80 million additional funding from mobile giant Orange in addition to the $326 million it raised last month. AIG, the holding company for Africa’s fast growing online retail startup Jumia with operation in 11 countries, crossed the $1 billion valuation mark in March after it announced that French insurance giant AXA had invested $84 million for an eight percent stake.

  • Africa Internet Group Raises $245M From Goldman Sachs And Other Existing Investors

    tech startups By Kevin Mwanza, 4:16 am

    Africa Internet Group (AIG), one of the largest e-commerce companies on the continent, has raised $245 million (225 million euros) in one of the largest fundraising rounds by an African-focused tech firm. The funding has been raising from US-based investment bank Goldman Sachs and existing investors South African telecom MTN Group and German startup incubator Rocket Internet.

  • AXA Investment Pushes Africa Internet Group Valuation To Over $1 Billion

    Africa Internet Group By Kevin Mwanza, 6:41 am

    French Insurance giant AXA plans to invest 75 million euros ($84 million) for a 8 percent stake in Africa Internet Group (AIG), one of the largest e-commerce companies on the continent. Nigerian-owned AIG is the holding company for Africa’s fast growing online retail startup Jumia that has operation in 11 countries. AXA’s investment now pushes AIG’s valuation to slightly over a billion dollars.

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