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

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).

By Jacques Coetzee

9 Feb 2016

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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