Orange announced a €75 million investment in Nigerian e-commerce company Africa Internet Group (AIG), as the company steps up its drive to grow in the continent.

Through the investment, Orange joins MTN, Millicom, Rocket Internet, AXA and Goldman Sachs in becoming a shareholder in AIG, which owns a number of technology firms across 23 African countries.

Orange has a common presence with AIG in 12 African countries and said it will help online retailer Jumia, and other websites run by the company, to accelerate growth and seize development opportunities in the region.

Other groups among AIG’s portfolio include e-commerce marketplace Kaymu, food delivery website Hellofood and hotel booking platform Jovago.

Orange CEO Stephane Richard (pictured) said the strategic investment now helps the French operator to “play a leading role in the fast growing e-commerce market in Africa”.

“In particular, across the 12 countries where we have a common presence, this investment will enable us to significantly develop our ability to market products and services developed by Orange, Middle East and Africa over the internet.”

AIG, last month, also secured additional funding worth $245 million.

Orange has “clear strategy” 
As part of Orange’s wider goals, Richard told Bloomberg earlier this week the company plans to continue to grow in Africa and the Middle East, as well as consolidate and enter new markets in Europe, following failed talks to merge with Bouygues Telecom in France.

He said the company is keen to move on from the failed deal, which would have been worth a reported €10 billion, following months of talks.

“We have a clear strategy through 2020 and French consolidation was never a prerequisite for it,” he said.