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In a small but important step to break the shackles of being regarded as a proxy for Tencent, Prosus delivered a third straight annual profit from its classifieds unit, which helped narrow losses in the broader e-commerce platforms.

Prosus is the global internet arm of SA’s most valuable company, Naspers, and houses its prized R3-trillion stake in the Chinese money maker. Prosus has been grappling with trillions of rand in valuation shortfall to the sum of its parts, prompting it to embark on structural fixes...

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