Prosus shifts focus to existing businesses
Cost of capital has become too high because of rising inflation, interest rates
03 July 2022 - 08:18
Technology investment group Prosus, owned by Naspers, has paused making major acquisitions because of rising valuations and will focus on investing in its existing loss-making digital businesses to try to make them profitable.
The group has been buying companies with e-commerce platforms in education, agriculture, payments and fintech, food and other sectors, including classifieds, but rising inflation and interest rates have pushed up the cost of capital. ..
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