$202m

TRAPPED FUNDS

Finweek English Edition - - THE WEEK - *fin­week is a pub­li­ca­tion of Me­dia24, a sub­sidiary of Naspers.

Naspers* said it may rein­vest the $202m that is trapped in Nige­ria, An­gola and Mozam­bique as a re­sult of a for­eign cur­rency liq­uid­ity crunch in those coun­tries, Busi­ness Day re­ported. CEO Bob van Dijk told the paper that it is “hard to get ac­cess to for­eign cur­rency”, and that repa­tri­a­tion of the funds, which come from its video en­ter­tain­ment busi­ness, would de­pend on the avail­abil­ity of cur­rency. Its video arm re­ported an 8% de­cline in rev­enue for the six months to end Septem­ber, while trad­ing profit was down 43% to $226m. (Also see page 11.)

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