Naspers looks to reduce size
Multinational internet and media group Naspers is considering the listing of certain parts of its sprawling media and technology business outside South Africa as the continent’s largest company by market value seeks to reduce its size.
Naspers takes “very seriously” the difference in value between its stake in Chinese internet giant Tencent and the firm as a whole, chief executive Bob van Dijk said in an interview yesterday.
Its weighting on the Johannesburg Stock Exchange of more than 19% is also too high and forces some investors to reduce their holdings, he added.
That said, Naspers is committed to retaining a primary listing on the Johannesburg bourse, Van Dijk said in Sandton, north of Johannesburg, where he was attending the 10th Brics summit .
“The logical next step would be to list parts of the business to see if we can reduce the overall size,” he said, adding “We are discussing with our board.”
The company has for years ridden the back of an early-stage investment in Tencent that has paid off many times over. Naspers has since scoured the globe for opportunities to replicate that success, and has put cash into ventures ranging from online travel agents in India; food delivery in Brazil; and education software in the US.
There is still plenty of investment opportunities available, meaning Naspers isn’t considering a buyback, Van Dijk said.
Mobile-payment technology has been identified as a cornerstone of Naspers’s investment strategy, Van Dijk said.
The Cape Town-based company will spend “several billions” of US dollars in the industry, with the most recent buy being ZOOZ in Israel.
Online education – particularly in skills such as writing code – is another high-potential area, while future markets include technology to help the elderly.
“We believe the world needs tens of millions more software engineers,” Van Dijk said.
“Online education is an area we’re really excited about.” – Bloomberg
Moneyweb
The City of Tshwane will today meet market agents who are extremely concerned about the dilapidated and filthy state of the multibillion-rand Tshwane Fresh Produce Market.
Food producers from the northern parts of the country sell their fresh fruit and vegetables at this market, from where it is distributed countrywide as well as to several neighbouring countries.
Producers are as concerned about the conditions. AgriSA’s Dr Requier Wait said that the organisation is in the process of setting up a meeting with all stakeholders to coordinate actions.
Linda Jackson, director at consultancy Food Focus SA, said pictures taken at the site “indicate
The logical next step would be to list parts of the business to see if we can reduce the overall size. We are discussing with our board.
Bob van Dijk Chief executive officer of Naspers Limited