Africa Internet Group Receives $83 Million

The insurance company AXA has invested 83 million US dollars in Africa Internet Group. Africa Internet Group owns some of the most successful digital companies in the continent, including the ecommerce site Jumia, the hotel booking platform Jovago, the jobs site Everjobs and the transport app EasyTaxi. A spokesperson from Africa Internet Group commented on how they will use the money, saying: “First, we'll use the investment to strengthen…our existing businesses. Longer term we'll look at launching new African companies and services and entering new countries.” In exchange for the investment, AXA now has an 8% stake in the company.