Nigeria fact of the day
Africa Internet Group is set to become the continent’s first “unicorn” after securing an investment valuing the ecommerce group at more than $1bn.
French insurer Axa will pay €75m for an 8 per cent stake in Africa Internet Group, which owns several start-ups including online retailer Jumia, mobile taxi app Easy Taxi and delivery app HelloFood, giving the company a valuation of €938m ($1.04bn).
Here is more from the FT.