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Africa’s largest listed investment group, Naspers, says it expects to report a drop in earnings of up to 15% due to continued investment in its portfolio of e-commerce businesses and reduced takings from China’s Tencent. This comes in a period where the group’s stock has been battered by regulators in Asia and it has had to exit operations in Russia. 

Naspers said in a year “marked with continued global turmoil and uncertainty, which has made for a turbulent operating environment”, the period “was a year of progress”...

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