MTN partners on e-commerce services for Africa

MTN Group has announced a partnership agreement that will enable Africa’s leading telecoms operator to extend online retail and other essential digital services on the African continent.

MTN has partnered with Rocket Internet and Millicom International Cellular to develop internet businesses in Africa through Africa Internet Holding (AIH), an exclusive vehicle to develop e-commerce businesses across the continent. MTN, Millicom and Rocket Internet will each become 33.3% shareholders in AIH.

Commenting on the transaction, Sifiso Dabengwa, MTN Group President and CEO, said: “We are excited to engage in a strategic partnership with Rocket Internet and Millicom to develop online ventures across the fast growing internet markets of Africa. Rocket Internet’s proven successful track record, coupled with Millicom and MTN’s leading mobile telecommunications position, will allow the partnership to capture the growth potential of the digital media space across our footprint in the region”.

source: www.biztechafrica.com

Rocket Internet Partners With African Telecom Operator MTN To Invest $410M in Middle East Startups

MTN Group and Rocket Internet announced that they have formed a new joint venture to invest in startups in the Middle East, with a focus on e-commerce. The two companies will each hold a 50% stake in Middle East Internet Holding (MEIH).

The announcement follows another partnership, concluded earlier this week, between MTN, Rocket Internet and Millicom International Cellular, to develop startups in Africa through Africa Internet Holding (AIH). MTN expects to pour 300 million euro (about USD$400 million) into AIH and MEIH, subject to regulatory approval, by the first and second quarter of 2014, respectively.

Based in Johannesburg, MTN is one of Africa’s largest telecom operators. Rocket Internet can potentially leverage MTN’s footprint as it seeks to tap into the continent’sfastest growing Internet markets, including Kenya and Nigeria.

Its agreement with MTN follows several other key partnerships cemented by Rocket Internet. For example, earlier this month Rocket Internet and U.K. retail giant Tesco, the world’s second-largest retailer by revenues after Wal-mart, announced a strategic investment partnership that began with a $250 million lead investment in Lazada. The online marketplace, in which Rocket Internet has invested $486 million so far, operates in Southeast Asian countries, including Indonesia, Malaysia, the Philippines, Thailand and Vietnam.

source: www.techcrunch.com

Rocket Internet Partners With African Telecom Operator MTN

MTN Group and Rocket Internet announced that they have formed a new joint venture to invest in startups in the Middle East, with a focus on e-commerce. The two companies will each hold a 50% stake in Middle East Internet Holding (MEIH).

The announcement follows another partnership, concluded earlier this week, between MTN, Rocket Internet and Millicom International Cellular, to develop startups in Africa through Africa Internet Holding (AIH). MTN expects to pour 300 million euro (about USD$400 million) into AIH and MEIH, subject to regulatory approval, by the first and second quarter of 2014, respectively.

Based in Johannesburg, MTN is one of Africa’s largest telecom operators. Rocket Internet can potentially leverage MTN’s footprint as it seeks to tap into the continent’s fastest growing Internet markets, including Kenya and Nigeria.

Its agreement with MTN follows several other key partnerships cemented by Rocket Internet. For example, earlier this month Rocket Internet and U.K. retail giant Tesco, the world’s second-largest retailer by revenues after Wal-mart, announced a strategic investment partnership that began with a $250 million lead investment in Lazada. The online marketplace, in which Rocket Internet has invested $486 million so far, operates in Southeast Asian countries, including Indonesia, Malaysia, the Philippines, Thailand and Vietnam.

source: www.techcrunch.com

Rocket Internet Partners With African Telecom Operator MTN To Invest $410M in Middle East Startups

MTN Group and Rocket Internet announced that they have formed a new joint venture to invest in startups in the Middle East, with a focus on e-commerce. The two companies will each hold a 50% stake in Middle East Internet Holding (MEIH).
The announcement follows another partnership, concluded earlier this week, between MTN, Rocket Internet and Millicom International Cellular, to develop startups in Africa through Africa Internet Holding (AIH). MTN expects to pour 300 million euro (about USD$400 million) into AIH and MEIH, subject to regulatory approval, by the first and second quarter of 2014, respectively.

Based in Johannesburg, MTN is one of Africa’s largest telecom operators. Rocket Internet can potentially leverage MTN’s footprint as it seeks to tap into the continent’s fastest growing Internet markets, including Kenya and Nigeria.

Its agreement with MTN follows several other key partnerships cemented by Rocket Internet. For example, earlier this month Rocket Internet and U.K. retail giant Tesco, the world’s second-largest retailer by revenues after Wal-mart, announced a strategic investment partnership that began with a $250 million lead investment in Lazada. The online marketplace, in which Rocket Internet has invested $486 million so far, operates in Southeast Asian countries, including Indonesia, Malaysia, the Philippines, Thailand and Vietnam.

Back in July, Rocket Internet also said it had raised an additional $500 million from two regular investors, Kinnevik and Access, to fund new and existing ventures with a focus on Latin America and Asia.

Africa and the Middle East are two key emerging markets in Berlin-based Rocket Internet’s global expansion strategy, which is especially important for Rocket Internet because Europe’s e-commerce market is already saturated.

Rocket’s investments in the Middle East include mobile app Easytaxi, real-estate listings site Lamudi, fashion retailer Namshi and delivery service Hellofood.

In a statement, MTN Group president and CTO Sifiso Dabengway said “The agreement with Rocket marks yet another important milestone in our journey of pursuing digital business adjacencies as one of our key strategic priorities, to drive growth and value for our customers.”

source: www.techcrunch.com

MTN bringing e-commerce services to African market

MTN has partnered with Rocket Internet and Millicom International Cellular to develop internet businesses in Africa through Africa Internet Holding (AIH), an exclusive vehicle to develop e-commerce businesses across the continent. MTN, Millicom and Rocket Internet will each become 33.3% shareholders in AIH.

Commenting on the transaction, Sifiso Dabengwa, MTN Group President and CEO, said: “We are excited to engage in a strategic partnership with Rocket Internet and Millicom to develop online ventures across the fast growing internet markets of Africa. Rocket Internet’s proven successful track record, coupled with Millicom and MTN’s leading mobile telecommunications position, will allow the partnership to capture the growth potential of the digital media space across our footprint in the region”.

Founded in 2012 as a joint venture between Rocket Internet and Millicom International Cellular, AIH is a leading internet group in Africa, with presence in 13 countries on the continent, including South Africa, Nigeria, Egypt, Morocco, Cote d’Ivoire and Ghana. The company has developed several successful e-commerce ventures in the last 18 months, including Jumia, Zando, Kaymu, Jovago, Lamudi, Carmudi, Easytaxi and Hellofood.

Commenting on the agreement today, Millicom President and CEO, Hans-Holger Albrecht said:

“We are pleased to welcome MTN as a strategic partner to accelerate the growth of our online alliance in Africa. It is a significant vote of confidence in its future. Between us we have more than 220 million mobile customers in the continent with very limited overlap. MTN is the leader in Nigeria and South Africa, the largest markets for AIH currently, while Millicom contributes through its leading positions in our markets, combined with one of the most innovative product offerings.”

The investment in AIH is in line with MTN’s strategy of bringing the digital world to customers, adapting to their rapidly changing needs and delivering a consistent end-to-end user experience. The partnership brings together Rocket Internet’s expertise in developing successful global internet business models, and Millicom and MTN’s leadership position and unique knowledge of the local telecom markets.

source: www.spyghana.com

MTN bringing e-commerce services to African markets

MTN has partnered with Rocket Internet and Millicom International Cellular to develop internet businesses in Africa through Africa Internet Holding (AIH), an exclusive vehicle to develop e-commerce businesses across the continent. MTN, Millicom and Rocket Internet will each become 33.3% shareholders in AIH.

Commenting on the transaction, Sifiso Dabengwa, MTN Group President and CEO, said: “We are excited to engage in a strategic partnership with Rocket Internet and Millicom to develop online ventures across the fast growing internet markets of Africa. Rocket Internet’s proven successful track record, coupled with Millicom and MTN’s leading mobile telecommunications position, will allow the partnership to capture the growth potential of the digital media space across our footprint in the region”.

Founded in 2012 as a joint venture between Rocket Internet and Millicom International Cellular, AIH is a leading internet group in Africa, with presence in 13 countries on the continent, including South Africa, Nigeria, Egypt, Morocco, Cote d’Ivoire and Ghana. The company has developed several successful e-commerce ventures in the last 18 months, including Jumia, Zando, Kaymu, Jovago, Lamudi, Carmudi, Easytaxi and Hellofood.

source: www.spyghana.com