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.

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