MTN, Goldman Sachs, Rocket Internet commit N48bn to grow AIG

MTN, Goldman Sachs, Rocket Internet commit N48bn to grow AIG

Africa Internet Group, AIG has received additional investments totalling $245 million, about N48 billion, from South African telecoms group, MTN, American investment banking firm, Goldman Sachs and Rocket Internet. Recall that MTN had bought 33 per cent in AIG in 2014 to join other AIG shareholders including Rocket Internet. AIG, founded in Nigeria in 2012 as an e-commerce conglomerate has leveraged deepening internet penetration in emerging markets including growing middle class to meet increasing demands for online products.

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Source: MTN, Goldman Sachs, Rocket Internet commit N48bn to grow AIG