The Commonwealth Development Corporation (CDC), a financial institution owned by UK government earlier this month invested a 500million EURO equity fund into Jumia parent company Africa Internet Group (AIG) and about nine other online consumer businesses in other parts of Africa. Going by the CDC’s statement on its official website, it is evident they had been keeping tabs on AIG before ultimately deciding to invest a lump sum into the business stating categorically that AIG currently connects more than 50,000 local and international companies with millions of African consumers and that CDC’s capital will help AIG improve its existing operations and expand into new countries which is in line with the vision of the UK government parastatal.
Lowkey, JUMIA Parent Company Got €500million Investment from UK Corporation
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