ANNUAL REPORT
Naspers sees ‘substantial opportunity’ in SA’s online retail market
Naspers sees a "substantial opportunity" in SA’s online retail segment as more consumers start buying goods and services via the internet. Africa’s biggest company said in its annual report released on Friday that SA’s online retail market was expected to grow by 15% a year in the five years to 2021. "Low rates of internet penetration (58% in 2017) and online retail penetration (1% in 2017) suggest significant offline-to-online migration will propel this growth," the technology holding company said. In 2017, Naspers increased its stake in SA’s Takealot from 47% to 96% after injecting $74m and $128m into the e-commerce company in two separate deals. The group said in its annual report that Takealot had made 100% of its delivery packaging recyclable. "Not only the boxes they use, but also the padding material that safeguards customers’ products," it said. Naspers CEO Bob van Dijk said in March the cash-flush company would pour more funds into Takealot, particularly the Mr D Food deliv...
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