Naspers not reducing its exposure to South Africa

Naspers CEO Bob van Dijk has stated that the company is not reducing its exposure to South Africa.

The statement comes after Naspers announced it will list its Video Entertainment business separately on the JSE.

The new company will be named MultiChoice Group and will include MultiChoice South Africa, MultiChoice Africa, Showmax Africa, and Irdeto.

“That is not the reason we are doing this. Naspers has a long history of operating in South Africa and we continue to be fully committed to South Africa,” said van Dijk about the listing.

“In the past three years we have invested R7 billion in South Africa.”

In the past financial year alone, Naspers invested more than R3 billion in its Internet businesses in South Africa, he said.

This includes investments in Takealot, South Africa’s biggest online retailer.

“We will also maintain our primary listing on the JSE and our interest in Media24,” added van Dijk.

In terms of the new MultiChoice Group, the move is a “complete separation” and Naspers and its board members will not retain influence over the company.

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Naspers not reducing its exposure to South Africa