French insurance giant buys into African e-commerce in $83m deal

By Jacques Coetzee
9 Feb 2016
French insurance giant AXA has bought an eight percent stake in Africa Internet Group (AIG), one of the continent's largest e-commerce players. The deal is valued at €75-million (over US$83-million).
Image credit:
Image credit: AfricaInternetGroup.com

According to Forbes, AXA will become the exclusive insurance provider for AIG, which includes the Nigerian-based Jumia and other e-commerce operations in Africa.

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