prosus

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...

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.

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...

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...

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...

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.

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...

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...

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...

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...

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...

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...

Chinese tech stocks fall after Naspers-owned Prosus announces share buyback plan Chinese technology stocks fell as a plan by Tencent Holdings Ltd.’s major backer to further cut its stake in the company fueled concerns more investors may look to take profits following a strong rally. The Hang...

All the companies Naspers owns Naspers' empire extends from its ecommerce and media holdings in South Africa to indirect ownership of some of the world's biggest game studios. The company announced its annual financial results on Monday, reporting a 24% revenue increase to $36.7 (R581.3...

Naspers-owned Prosus selling Tencent stock to buy back own shares Naspers and Prosus have announced a share repurchase programme, where it will sell a portion of the group's Tencent Holding shares to buy back its own stock. The repurchase programme will be funded by the on-market sale of...

ByteDance Disbands Shanghai Games Studio in Expansion Setback ByteDance Ltd. has shut down a game development studio it acquired just three years ago, slashing more than a hundred jobs in a major setback for its quest to challenge Tencent Holdings Ltd. in mobile gaming. [Bloomberg]

The biggest IT companies in South Africa South Africa has several home-brewed information technology companies worth well over R1 billion. After making enormous gains during the height of the Covid-19 pandemic, most major global tech shares have taken a beating in 2022.

Naspers management slated for making multi-billion blunders Ranmore Fund Management founder, Sean Peche, has slated Naspers and Prosus management for their failure to unlock value for South African savers and investors. In a series of comments on Twitter, Peche explained why he believes the...

Naspers kills OLX South Africa South Africans visiting the OLX website on Tuesday morning were greeted with the message that the classifieds service is no longer available. “Not to worry, we can still help you find your new car or property,” the website stated, offering links to OLX...

Naspers hammered as China declares games "spiritual opium" Tencent Holdings Ltd. led a stocks rout after Chinese state media decried the “spiritual opium” of games, prompting the company to broach a ban for kids and triggering fears Beijing will set its sights next on the world’s largest gaming...