Naspers wants more tech investments, and has the war chest to make it happen
CEO Bob Van Dijk says the company has ‘several billion in cash and underutilised credit facilities’
London — Naspers is keen to continue its search for e-commerce and tech investments, with Africa’s biggest company happy to deploy a sizable war chest in its hunt for deals. "We have several billion in cash and underutilised credit facilities," Naspers CEO Bob Van Dijk said in an interview with Bloomberg. "We have room to invest in the future." Naspers has become one of the world’s largest investors in e-commerce ventures, as well as Africa’s largest pay-TV provider, as it tries to build on the success of its early stage investment in Chinese technology giant Tencent Holdings — a company now worth $472bn. "In time, Naspers could become an even better investment alternative than Tencent," said Gerrit Smit, head of Stonehage Fleming Equity Management. "Naspers is currently in a heavy investment cycle and spending money on building substance in emerging market e-commerce and other online businesses." Van Dijk has been accumulating internet technology acquisitions since taking the helm ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.