Pernod Ricard buys stake in Africa’s online retailer Jumia

French spirits Group Pernod Ricard announced on Tuesday, 18th December, it had acquired an unspecified stake in African online e-commerce retailer, Jumia.

The move follows Pernod Ricard’s collaboration with the firm to launch a one hour alcohol delivery service in Ghana and Kenya through an app called “Jumia Party”.

As a “strategic shareholder, we will develop innovative distribution strategies on the African continent,” Pernod said.

“Pernod Ricard has made Africa its new frontier, as shown by the successive openings of subsidiaries over the last few years,” said Pernod’s CEO for Latin America & EMEA, Gilles Bogaert.

“We strive to strengthen our growth in this very promising continent. Jumia is a partner of choice as digital and e-commerce represents real strategic accelerators in this region for us.”

Jumia was founded in 2012 and claims to be the leading pan-African e-commerce platform present in 14 African countries.

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