Jumia.com, Africa’s fastest growing online retailer, confirmed that global telecommunications group Millicom International Cellular S.A plans to increase its stake in Jumia.com’s holding company from 20 to 35%. This additional €85 million investment in the parent group is part of a €340 million agreement signed in August 2012. Of the €85m, €35m will be invested in Africa. It is in addition to recent investments from J.P. Morgan and Summit Partners.
Three recently-launched and highly promising ventures will also benefit from Millicom’s new investment: Kaymu.com, a marketplace to help small merchants reach new customers, Hellofood.com, a food delivery service already present in over ten and Vamido.com, a real estate classified website.
Jeremy Hodara and Sacha Poignonnec, Jumia.com’s Co-founders and CEOs: “This investment confirms Millicom’s trust in our ability to become the leading e-commerce group in Africa. It will give us the financial power to increase even more our leadership position in fast growing markets such as Nigeria, Egypt, Morocco, and Kenya and to expand to new countries fast. Our goal is clear: We want to create the best shopping experience in Africa, offering the widest assortment and state-of-the-art delivery service.”
Hans-Holger Albrecht, Millicom’s President and CEO, commented: “Sooner than we thought, our joint ventures in Africa have achieved leading positions in key segments of the growing online market. The opportunities look even greater than when we first decided to invest in them. In Africa, e-commerce could hasten the evolution of the established retail sector as consumers increasingly adopt the digital lifestyle. That is why such timely investment is of essence. We are pleased today to give our partners our reiterated financial and operational support to allow proper planning and execution. Online is emerging as one of the four pillars of Millicom’s strategy to transform into a digital lifestyle leader.”
About Jumia.com
Jumia.com is Africa’s fastest growing online retailer with operations in Nigeria, Egypt, Morocco, and Kenya. Jumia.com offers all categories of products, including apparel, shoes, fashion accessories, electronics, household appliance, toys, and books. Jumia.com offers best-in-class customer experience, with free delivery, free returns, and cash-on-delivery payment. Jumia.com has been launched in spring 2012 with the support of the leading venture builder and accelerator Rocket Internet GmbH. Jumia.com’s shareholders include Millicom International Cellular S.A., Investment AB Kinnevik, J.P. Morgan Asset Management, Summit Partners, and Rocket Internet GmbH. Jumia is present in Nigeria with www.jumia.com.ng, Egypt with www.jumia.com.eg, Morocco with www.jumia.ma, and Kenya with www.jumia.co.ke.
About Kaymu.com
Launched in Nigeria in winter 2013, Kaymu.com.ng is a marketplace that helps small merchants and individuals reach new customers or sell used products.
Kaymu.com.ng facilitates buying and selling online all across Nigeria. It features auction style and fixed price offers to suit the need of every seller and gives a unique experience to buyers. It offers sellers the opportunity to own a shop on Kaymu.com.ng where they can sell their products to the growing numbers of Nigerians online and offer buyers the opportunity to get deals on a big selection of new and used items ranging from fashion to electronics and even unique collectibles or gifts. Soon after launch, Kaymu.com.ng already had over 6,000 products listed and more than 6,000 buyers and sellers registered. For more information, please visit www.kaymu.com.ng.
About Hellofood.com
Launched in November 2012, Hellofood.com is a food delivery platform that enables customers to order food from their favorite restaurants in each city. Now operating in Nigeria, Kenya, Morocco, Ghana, Senegal and Ivory Coast, Hellofood.com has attracted several hundred independent restaurants and international chains as partners. Customers can order all of their favorite types of food in each city, and look to Hellofood.com for a wide choice of cuisines and price points, as well as flawless user experience and a flexible ordering process that now includes iPhone and Android apps. Hellofood is present in Nigeria with www.hellofood.com.ng, Kenya with www.hellofood.co.ke, Morocco with www.hellofood.ma, Ghana with www.hellofood.com.gh, Senegal with www.hellofood.sn, and Ivory Coast with www.hellofood.ci.
About Vamido.com
Launched in Nigeria in winter 2013, Vamido.com.ng, is a real estate classified portal. It enables realtors, landlords and sellers to reach the widest audience while making it easier for home buyers and renters to search for homes, apartments, commercial properties, and land using their criteria and gives them access to most complete and thorough listings. Within a month, Vamido.com.ng has quickly become Nigeria’s most sophisticated and trusted real estate portal boasting the highest quality of listings, each professionally photographed by Vamido.com.ng’s team of photographers and meticulously verified to avoid any fraudulent postings. For more information, please visit www.vamido.com.ng.
About Millicom
Millicom is a leading international telecommunications and media company dedicated to emerging markets in Latin America and Africa. Operating in fifteen countries, Millicom offers innovative and customer-centric products. The Millicom Group employs more than 8,000 people and provides mobile services, access to the internet, content and financial services to over 45 million customers. Founded in 1990, Millicom International Cellular SA is headquartered in Luxembourg and listed on NASDAQ OMX Stockholm under the symbol MIC. In 2012, Millicom generated revenue of $4.81 billion and EBITDA of $2.07 billion. For more information visit Millicom.com.
