TIISETSO MOTSOENENG: With R120bn stash Prosus is in sweet spot to get Tencent monkey off its back
Cash pile is enough to scale up its fast-growing e-commerce platforms or hunt for a big fish
I would imagine many companies at home and abroad have meetings every other day to find new ways to cut operational costs in a frenzied rush for cash to build resilience amid forecasts of the deepest economic downturn in generations.
Prosus, the global internet unit of SA’s most valuable company, Naspers, is not one of them. It is in a sweet spot, sitting on about R120bn in cash and untapped credit facilities — enough to scale up its fast-growing e-commerce platforms or go on hunt for a big fish.