Insurer Axa announced Monday that it will take 8% of the capital of Africa Internet Group (AIG), owner of websites present in twenty-three African countries, of which it will become the exclusive supplier of financial products and services. insurance.
As part of this transaction, which is expected to close in the first quarter of 2016, Axa will also invest 75 million euros in the Africa Internet Group, it said in a joint statement.
In addition to the Jumia e-commerce site, AIG’s main subsidiary present in eleven African countries, Axa will exclusively supply insurance products for all online and mobile platforms for the African truck. Among them stand out Kaymu (online shopping), Hellofood (food delivery), Jovago (booking of tourist stays), Lamudi, Everjobs and Carmudi (real estate, employment and vehicle classifieds services respectively).
Axa thus becomes co-shareholder of AIG alongside the South African telecommunications giant MTN, present in twenty-one countries in Africa and the Middle East, of the German group Rocket Internet, specialist in site adaptation Internet success outside their countries of origin, and the Luxembourg telecoms and media group Millicom, which has more than 60 million customers mainly in Latin America and Africa.
“In our view, connected businesses and e-commerce platforms will develop rapidly in Africa due to the emergence of the middle class, supported by the growth in penetration rates of the internet and mobile”, estimate Sacha Poignonnec and Jérémy Hodara, founders and co-CEOs of Jumia and Africa Internet Group, cited in the press release.
This partnership “will significantly accelerate our development by having access to (the) customer base (AIG) and their innovative technology in the field of e-commerce,” said Denis Duverne, Director Deputy General Manager of Axa.
Jumia “increased its transaction volume (GMV) by 265% in the first nine months of 2015 to reach 206 million euros,” it said in the statement.
In 2014, the Axa group generated net profit of 5.1 billion euros. As of December 31, 2014, its assets under management amounted to € 1,277 billion.
Learn more at http://www.lemonde.fr/afrique/article/2016/02/08/axa-devient-fournisseur-exclusif-des-sites-internet-d-africa-internet-group_4861319_3212.html#swGQIFkFuM6ij6OR. 99
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