The pandemic has jump-started e-commerce in South Africa.
One of the biggest winners may be Takealot.com, a local e-commerce website that launched nearly a decade ago and later became part of Naspers, Africa’s biggest company by market capitalization. Revenue at Takealot reached $238 million in the six months that ended Sept. 30, its most recently reported period. That’s up 41% from the same period a year earlier.
Developments such as same-day delivery of groceries and the ability to collect packages when and where convenient have paved the way for a growing number of South Africans to carry on from the comfort of home amid varying levels of a nationwide lockdown designed to slow the spread of the novel coronavirus.
Provided by Dow Jones
By Alexandra Wexler JOHANNESBURG Africa s largest-listed company, Naspers Ltd., is wrestling with an unusual problem: It made one unbelievably good investment that has now become a headache. Naspers bought a third of Tencent Holdings Ltd. in 2001, years before the operator of the WeChat messaging app became China s most-valuable publicly listed company. The stake itself is now worth over $100 billion more than the market value of Naspers, despite the company s other profitable businesses in areas like online classifieds, payments and retail. The difference has presented Naspers executives with the enigma of determining how to unlock value for shareholders without cashing out on one of the world s most successful tech companies. The problem has become more acute as the gap widened to new levels in the past year, when the coronavirus-induced rally in tech stocks pumped up valuations of Tencent and other tech companies.
MONEYWEB
app instead?
Tebogo Naledi believes OMIG is now very well positioned to respond to client needs.
By Patrick Cairns, Citywire
7 Apr 2021 14:31
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Old Mutual Investment Group MD, Tebogo Naledi. Image: Supplied
When Old Mutual Equities and MacroSolutions announced their merger earlier this year, the number of boutiques within the Old Mutual Investment Group (OMIG) fell to three. This is apart from the four other businesses within Old Mutual Investments â Futuregrowth Asset Management, Marriott Investment Managers, Old Mutual Alternative Investments and Old Mutual Specialised Finance.
Fourteen years ago, when Old Mutual Investment Group unveiled its new boutique model, there were 12 businesses in the group. Even more were added in subsequent years.