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Commonwealth puts USD 55.5 mln into Africa Internet Group

Friday 8 July 2016 | 13:02 CET | News
Le Commonwealth Development Group (CDC Group) said it will invest USD 55.5 million in Africa Internet Group, lately rebranded as Jumia, Ecofin report. CDC Group said it wants to position itself in a new niche market with opportunities for returns on investment. Jumia has other investors, including Goldman Sachs (EUR 300 million), French insurance company Axa, MTN, Rocket Internet and Millicon. Axa has an 8 percent stake in the Jumia.

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Categories: Internet
Companies: Jumia / MTN / Rocket Internet
Countries: Africa
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