Rocket Internet plans to channel $410M into e-commerce in the Middle East

Notorious “super-incubator” Rocket Internet is ramping up in the Middle East. Rocket and telecom provider MTN Group are partnering to form Middle East Internet Holding which will develop Internet businesses in the region. MTN plans to invest up to $410 million dollars into MEIH and Africa Internet Holding, which supports Rocket’s Internet companies in Africa.

Rocket Internet is increasing its focus on the Middle East after it announced plans to pump €300 million (around $410 million) in the region and Africa via two new projects with South Africa carrier MTN.

By Michio Hasai

+Michio Hasai is a social strategist and car guy. Find him on Facebook, Twitter, and Pinterest.

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