naspers

  1. Hanno Labuschagne

    How Koos Bekker made pay-TV big in SA

    How Koos Bekker made pay-TV big in SA Jacobus Petrus (Koos) Bekker founded M-Net, South Africa's first pay-TV channel and the predecessor of DStv, which played a key role in transforming media publishing giant Naspers into a global technology powerhouse. Bekker grew up on a mielie farm near...
  3. pratlou

    Prosus is still paying former CEO Van Dijk

    Bob van Dijk, former CEO of Prosus and Naspers, the interlinked companies effectively part of the same group, was paid throughout the last financial year (to end March), despite stepping down on 18 September 2023. He received a base salary of $1.469 million, equal to R27.5 million at the average...
  4. Jan

    Bob van Dijk resigns as Naspers and Prosus CEO

    Naspers CEO resigns effective immediately Naspers and Prosus have announced that Bob van Dijk has stepped down as CEO and from his positions on the boards of both companies. His resignation is effectively immediately — Monday, 18 September 2023.
  5. Jan

    Superbalist confirms Section 189 process underway

    Takealot-owned Superbalist to cut staff Superbalist has started the process to retrench workers after parent company Takealot posted a $ 22 million (R420-million) loss for its last financial year. “Superbalist has embarked on a Section 189 process that will lead to the restructure of its...
  6. Jan

    Takealot posts R392 million loss - Naspers no longer promising it's near break-even

    Takealot makes R392 million loss — blames inflation and load-shedding South African e-commerce business Takealot group lost $22 million (R392 million) in the latest financial year of its parent company, Naspers. In the tech and multimedia giant's FY 2023 results, it attributed the hefty loss...
  7. Jan

    Naspers reports R147 billion lower profits

    Naspers profit plummets by R147 billion Naspers has released its annual financial results, reporting an over 46% decrease in profit from $18.5 billion (R318 billion) to $9.95 billion (R171 billion). Sister company Prosus posted a similar performance, with its annual profit decreasing from...
  8. Jan

    Prosus to explore divestments from fintech arm PayU

    Prosus looking to offload PayU Prosus NV is exploring potential divestments from its emerging-markets financial technology company PayU, according to people familiar with the matter. The investment firm is working with Bank of America Corp. as it gauges interest in PayU’s business outside...
  9. Hanno Labuschagne

    Tencent rally up against earnings test

    Tencent rally up against earnings test Tencent Holdings Ltd.’s successful foray into short videos and a softening regulatory backdrop have fueled a $160 billion (R2.97 trillion) rally since October, the next leg of which will hinge on a crucial earnings release this week. Shares of the gaming...
  10. Jan

    Naspers-owned Prosus wants to "exit" OLX Autos

    After killing OLX in South Africa, Prosus is dumping OLX Autos Naspers and its subsidiary Prosus have informed shareholders that they want to dump OLX Autos. It is unclear whether the car classifieds website will be shut down or sold, but Naspers has indicated it prefers to sell the business.
  11. Jan

    Naspers backs Planet42 in $100-million equity and debt fund-raising

    Naspers backs South African rent-to-buy car startup in R1.8-billion fund-raise Naspers Ltd., an early investor in China’s Tencent and still its largest shareholder, is backing rent-to-buy car firm Planet42 in a $100 million debt and equity fund-raising. The startup, that mainly operates in...
  12. Jan

    Naspers CEO, CFO, and two directors sell stock into share buyback programme

    Naspers top dogs dump shares worth R1.8 billion during buyback Naspers CEO Bob van Dijk and CFO Basil Sgourdos have sold R1.8 billion of their Naspers and Prosus shares after the companies announced their buyback scheme in June 2022. Two other directors — Mark Sorour and Steve Pacak — have...
    • Jan
    • Thread
    • basil sgourdos bob van dijk mark sorour naspers prosus steve pacak
    • Replies: 3
    • Forum: Broadband and IT News
  13. Jan

    Naspers, Prosus to cut 30% of corporate staff in latest tech layoffs

    Naspers and Prosus cutting staff — including at South African offices Amsterdam-listed Prosus NV and its parent Naspers Ltd. are planning to cut their corporate workforce by 30%, becoming the latest global tech company to announce layoffs. The firm, one of Europe’s largest e-commerce companies...
  14. Jan

    Takealot still not profitable, reports R224 million loss

    Takealot makes R224 million loss Naspers has published interim results for the first half of its 2023 financial year (H1 FY2023), revealing a significant loss for its Takealot group of ecommerce businesses. The group consists of general online store Takealot.com, delivery service Mr D, and...
  15. Jan

    Naspers sends profit warning 45 minutes after market close

    Naspers issues major profit warning Naspers issued a trading update 45 minutes after the JSE closed on Monday, warning shareholders that it expects a major decline in half-year profits. It warned that headline earnings per share for its continuing operations would decline by between 100% and...
  16. Jan

    Prosus gives up $403 million stake in Russia's VK social network

    Naspers-owned Prosus gives up R7 billion investment for nothing Prosus NV gave up its stake in Russia’s largest social network for nothing, walking away from a company run by an executive under US sanctions. VK sold the shares acquired from the Dutch e-commerce company to its management team...
  17. Jan

    Kim Reid hired as BetKing CEO

    Takealot founder and former CEO hired to head MultiChoice-owned sports betting company Blue Lake Ventures Group (BLV Group) has appointed Takealot founder and former CEO Kim Reid as its CEO, Daily Investor reports. BLV owns Africa-focused online sports betting service BetKing, and pay-TV giant...
    • Jan
    • Thread
    • betking blue lake ventures (blv group) kim reid multichoice naspers takealot
    • Replies: 6
    • Forum: Broadband and IT News
  18. Jan

    Canal+ increases stake in MultiChoice to 26.26%

    French pay-TV giant buys bigger stake in DStv-owner MultiChoice MultiChoice has informed shareholders that Groupe Canal+ has increased its stake in South Africa’s biggest pay-TV player to 26.26%. This is up from 20.12% in July when MultiChoice disclosed that the French media giant had bought a...
    • Jan
    • Thread
    • calvo mawela canal+ dstv multichoice naspers richard cheesman
    • Replies: 2
    • Forum: Broadband and IT News
  19. Jan

    Naspers boss sold R1.6 billion stock into company share buyback programme

    Naspers CEO dumps R1.6 billion in shares during company's aggressive stock buyback Naspers CEO Bob van Dijk sold R1.6 billion in Naspers shares over the last two weeks while the company was on a buyback spree. Over the last few days, Naspers announced that Van Dijk sold his shares in a few...
  20. Jan

    Tencent shares worth $7.6 billion appear in Hong Kong clearing system - is it Prosus?

    Worries that Naspers-owned Prosus will offload R131-billion Tencent stake Tencent Holdings Ltd. shares worth $7.6 billion (R131 billion) appearing in Hong Kong’s clearing and settlement system has fueled speculation that a large stakeholder may be selling its holdings. About 192 million of...
  21. Jan

    Why Naspers shareholders are angry

    Naspers' big problems Naspers and Prosus released their full-year results on 27 June 2022, which revealed a decline in trading profit, core headline earnings per share, and free cash flow. Naspers CEO Bob van Dijk downplayed the earnings decline, saying, “the group delivered strong growth and...
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