Germany's Rocket Internet has announced a series of partnerships with South Africa's largest mobile operator MTN Group.
On December 17, the two firms said they would develop a series of internet businesses in Africa with Millicom International Cellular through a joint venture Africa Internet Holding.
In the second, announced three days later, Johannesburg-based MTN and Berlin's Rocket Internet announced an ambitious plan to accelerate online retail and other digital services in the Middle East.
The second of the two ventures will see each of the two take a 50 per cent stake in Middle East Internet Holding. MTN is expected to invest about €300 million over the next four years into the two projects.
The World Bank Africa Development Indicator estimates 62 per cent of Africa's internet users are in Kenya and Nigeria. The Seychelles has the highest number of internet users per 100 people.
MTN's CEO Sifiso Dabengwa said of the Middle Eastern deal would 'accelerate and further develop the nascent ecommerce market in the region'.
Rocket Internet's co-founder Oliver Samwer said: 'With joint forces, Middle East Internet Holding will develop its already existing ventures even better and will launch new companies even faster and more successfully.'
In July, Rocket Internet said it had raised an additional $500 million from two of its existing investors Kinnevik and Access to fund new and existing ventures with a focus on Latin America and Asia.
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