Naspers SA ready to swoop on tech start-ups during lockdown
While three-quarters of businesses in SA are cash-strapped due to Covid-19 the company is flush with money
Naspers SA is preparing for a once-in-a-generation opportunity to scoop up technology start-ups on the cheap as the Covid-19 outbreak slams the brake on both cash flow and venture capitalists’ funding.
“We see a lot of opportunities,” CEO Phuthi Mahanyele-Dabengwa told Business Day. “Valuations have come down quite substantially.”..