Cairo, Egypt, May 19th, 2013 - Jumia.com, Africa's fastest growing online retailer, confirmed that global telecommunications group Millicom International Cellular S.A plans to increase its stake in Jumia.com's holding company from 20 to 35%. This additional €85 million investment in the parent group is part of a €340 million agreementsigned in August 2012. Of the €85m, €35m will be invested in Africa. It is in addition to recent investments from J.P. Morgan and Summit Partners.

Jeremy Hodara and Sacha Poignonnec, Jumia.com's Co-founders and CEOs: "This investment confirms Millicom's trust in our ability to become the leading e-commerce group in Africa. It will give us the financial power to increase even more our leadership position in fast growing markets such as Egypt, Nigeria, Morocco, and Kenya and to expand to new countries fast. Our goal is clear: We want to create the best shopping experience in Africa, offering the widest assortment and state-of-the-art delivery service."

Hans-Holger Albrecht, Millicom's President and CEO, commented: "Sooner than we thought, our joint ventures in Africa have achieved leading positions in key segments of the growing online market. The opportunities look even greater than when we first decided to invest in them. In Africa, e-commerce could hasten the evolution of the established retail sector as consumers increasingly adopt the digital lifestyle. That is why such timely investment is of essence. We are pleased today to give our partners our reiterated financial and operational support to allow proper planning and execution. Online is emerging as one of the four pillars of Millicom's strategy to transform into a digital lifestyle leader."

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About Jumia.com
Jumia.com is Africa's fastest growing online retailer with operations in Egypt, Nigeria, Morocco, and Kenya. Jumia.com offers all categories of products, including apparel, shoes, fashion accessories, electronics, household appliance, toys, and books. Jumia.com offers best-in-class customer experience, with free delivery, free returns, and cash-on-delivery payment. Jumia.com has been launched in spring 2012 with the support of the leading venture builder and accelerator Rocket Internet GmbH. Jumia.com's shareholders include Millicom International Cellular S.A., Investment AB Kinnevik, J.P. Morgan Asset Management, Summit Partners, and Rocket Internet GmbH. Jumia is present in Egypt with www.jumia.com.eg.  

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About Millicom
Millicom is a leading international telecommunications and media company dedicated to emerging markets in Latin America and Africa. Operating in fifteen countries, Millicom offers innovative and customer-centric products. The Millicom Group employs more than 8,000 people and provides mobile services, access to the internet, content and financial services to over 45 million customers. Founded in 1990, Millicom International Cellular SA is headquartered in Luxembourg and listed on NASDAQ OMX Stockholm under the symbol MIC. In 2012, Millicom generated revenue of $4.81 billion and EBITDA of $2.07 billion. For more information visit Millicom.com.

Media Contacts
Ahmed Hany | PR & Media Associate  - Jumia
ahmed.hany@eg.jumia.com

Tarek
Lasheen | PR Director Memac Ogilvy & Mather
Tarek.lasheen@ogilvy.com  

© Press Release 2013