Wayne McCurrie from FNB Wealth and Investments chose Naspers as his stock pick of the day and Sekgabo Molelekoa from Umthombo Wealth chose MultiChoice. McCurrie said: “Naspers, as we well know, peaked at around R4,000 and has come back, their earnings are still there, they’ve done the unbundling of MultiChoice and they are going to do their new listing in the Netherlands and unlock some value. Today Tencent announced that they are buying back shares. This must all add up to something half decent.” Molelekoa said “We hear rumblings about Netflix coming in and being the big disrupter in our market but MultiChoice’s strategy is to venture more into Africa. SA is highly cash generative and is funding the rest of the business. In fact, we are going to see a dividend resume again next year. The dividend yield is expected to be around 5%.”
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