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MTN acquires 33.3% stake In Jumia’s parent company

17 December 2013, 17:30

Lagos - About 33 percent equity of the Africa Internet Holding (AIH), the parent company of Jumia, one of Nigeria’s leading online retail sites, has been acquired by MTN.

This acquisition will help MTN extends its online retail and other essential digital services in Nigeria and other African countries, reports Leadership.

With the acquisition, AIH becomes an associate of MTN, Millicom, and Rocket Internet with each company owning one third of the share capital and having equal representation on the Board of AIH.

 The partnership paves the way for the growth of high profile brands such as Kaymu, Jumia, Lamudi, Jovago, Zando,  and Hellofood.

Read more at Leadership


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