Naspers Sees $5.2 Billion E-Commerce Boost for South Africa [Financial Post (Toronto, Ontario, Canada)]
NASPERS LTD S/ADR (NPSNY)
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naspers.com/news/publication-of-prospectus-and-expected-admission-o
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Naspers Ltd., Africa's largest company by market value, expects e-commerce and other digital platforms to inject 91.4 billion rand ($5.2 billion) into the South African economy by 2035. That would see the sector contribute 1.38% to gross domestic product in just over a decade, research done by Naspers and the Mapungubwe Institute for Strategic Reflection shows. Naspers owns Takealot, South Africa's top online retailer, and has been expanding its services to include one-hour delivery for items ranging from phone chargers to toys. That will help it better compete with Amazon.com Inc., which entered the local marketplace in May. Naspers, the controlling shareholder of internet investing giant Prosus NV, aims to turn its e-commerce business into a cash cow under its new Chief Executive Officer Fabricio Bloisi, who built-out food-delivery business iF
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