Inspiring Leadership & Sustainable Business Transformation in Africa
SOUTH AFRICA – Naspers, a multinational holding company, has made a R15 million (US$1m) investment in Floatpays, an on-demand earned wage access platform that helps customers build financial wellness. Naspers made the investment through its R1.4 billion (US$92.81m) early-stage tech investment vehicle Naspers Foundry. This is Naspers Foundry’s third fintech investment and its ninth transaction since its launch in 2019.…
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SOUTH AFRICA – Prosus, a major subsidiary of South African Naspers, has entered into an agreement to acquire an additional 2.5% stake in Delivery Hero, which is subject to regulatory approval, through its subsidiary, MIH Food Holdings B.V. Delivery Hero is an online food-delivery service based in Berlin that connect customers with restaurants and shops they love. According to Prosus,…
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SOUTH AFRICA – Naspers-controlled online retailer Takealot Group has appointed Mamongae Mahlare as its new Group Chief Executive Officer, effective 1 October 2021. In a statement, the online retailer says Mahlare’s appointment follows the announcement that Kim Reid will transition to chairman of Takealot Group during the course of this year 2021, where he will focus on the group’s longer-term…
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SOUTH AFRICA – Naspers, through its early-stage tech investment vehicle Naspers Foundry, announced a R120 million (US$8.4 million) investment in Naked, an artificial intelligence (AI)-driven insurtech company that offers a new, fully digital way for consumers to insure their cars, homes, and valuables. In a statement, Naspers says the transaction is Naspers Foundry’s second insurtech investment in two weeks and…
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SOUTH AFRICA – Mobility startup WhereIsMyTransport has raised a US$14.5 million Series A extension round as it bids to continue its expansion across emerging markets. Formed in 2016, WhereIsMyTransport is a big data platform for sustainable mobility in emerging markets, which connects and collects data and integrates this information on its open data platform. Its products are used by cities to coordinate…
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SOUTH AFRICA – Technology investment group Prosus, a unit of consumer Internet company Naspers, has announced its intention to sell more than 191 million shares, or 2 percent of its shares in tech behemoth Tencent valued at about US$15 billion as it seeks further acquisitions for growth amid Covid-19. Prosus will reduce its stake to 28.9 percent from 30.9 percent…
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SOUTH AFRICA – Agritech start-up Aerobotics founded in Cape Town, has raised US$17-million in a series-B funding round led by Naspers, one of the world’s top 10 technology investors. Report of the investment comes barely a year after Naspers said it would invest US$6.7 million in Aerobotics through its Naspers Foundry business, which funds early-stage ventures. Other than Naspers, there was also…
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SOUTH AFRICA – Naspers, the South African e-commerce group, has announced an investment of US$2.9 million in online learning platform, The Student Hub. The Student Hub platform helps TVET colleges to overcome physical infrastructure constraints and improves students’ access to vocational education and training. The investment coincides with the South Africa Investment Conference 2020 where Naspers is a lead partner.…
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SOUTH AFRICA – Prosus, an e-commerce group, has raised more than US$2 billion (R33bn) through an over-subscribed debt offering to bolster its acquisitions plans amid industry consolidation and Covid-19. Prosus, which listed on the Euronext Amsterdam and JSE last September, said that it had raised the money through debt, comprising its longest-dated dollar offering. It said the purpose of the…
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SOUTH AFRICA – NaspersAmsterdam Foray, a global internet group has been dominating the South African stock market but this is about to be reduced partially. According to Fin 24, this is good news for a number of fund managers concerned about the tech giant’s weighting in the main local index. After Naspers lists its unit Prosus NV in Amsterdam on…
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