Latest news with #Naspers
News24
3 days ago
- Business
- News24
SA shares enjoy best May since 2013
• For more financial news, go to the News24 Business front page. South Africa's benchmark stock index is heading for its best month in almost a year, with a helping hand from China's most valuable company. The FTSE/JSE Africa All Share Index is up more than 7% in dollar terms in May, on track for its biggest monthly gain since June last year and its best May performance since 2013. It has outperformed emerging-market peers as well as the S&P 500 and the Stoxx Europe 600. The largest contributor to the rally has been tech investor Naspers, which soared after China's Tencent in which it owns a stake, reported a faster-than-anticipated 13% rise in sales. Naspers, which accounts for more than 12% of the index, contributed one fifth of the monthly gain in index points, according to data compiled by Bloomberg. That's almost three times as much as any of the next three stocks, which include two platinum miners and Prosus - which holds Naspers' stake in Tencent. Stars align Whether the rally continues will depend on the South African coalition government's commitment to push through economic reforms, metal prices and the 'sell America' trade that is driving investment to developing nations, said Peter Takaendesa, head of equities at Mergence Investment Managers. 'If a few stars align such as continued fund flows toward emerging markets, and structural reforms in South Africa pick up some pace at the same time with a continued broader recovery in global commodity prices, then our market could continue to push higher,' Takaendesa said. Naspers has climbed more than 5% this month on investor optimism that Tencent will weather the challenging economic outlook in the coming months. The WeChat operator's sales rose to 180.02 billion yuan (R450 billion) in the March quarter, as it benefited from the Chinese tech comeback triggered by DeepSeek. Platinum producers Sibanye Stillwater, Northam Platinum and Impala Platinum, were also among the top performers as the metal rose to a two-year high. Domestic-facing sectors such as retailers and banks, however, underperformed as political uncertainty damped consumer confidence and the outlook for the economy soured, Takaendesa said. South Africa's central bank resumed its easing cycle on Thursday to offer support to the stuttering economy as inflation remains benign. The monetary policy committee cut the benchmark interest rate by 25 basis points to 7.25%, the lowest in more than two years, while downgrading its forecasts for economic growth. The cut will provide support for some sectors such as retailers, Unum Capital analyst Lester Davids said. The All Share Index declined 0.4% in Johannesburg around 15:00 local time.
The South African
6 days ago
- Business
- The South African
Who is Phuthi Mahanyele-Dabengwa, the woman leading B20's Digital Transformation Task Force?
Phuthi Mahanyele-Dabengwa, the chairperson of Business 20's (B20's) Digital Transformation Task Force which includes esteemed leaders in technology, is ambitiously working to advance digital inclusion across Africa and other developing economies. In a recent interview, Mahanyele-Dabengwa explained the purpose and focus of the Digital Transformation Task Force, one of the many task forces of the B20. B20 Task Forces are the strategic engines of B20 South Africa, responsible for developing business-driven, actionable policy recommendations to be presented to the Group of 20 (G20), which South Africa leads until November 2025. 'Its focus is to bring about concrete policies that will bring about wider internet access and digital inclusion, enabling developing nations in Africa and beyond to narrow the gap with technology powerhouses like the US and China,' Mahanyele-Dabengwa said. 'This G20 Presidency under South Africa's leadership is the perfect moment to take action – to guide the technological revolution in a way that broadens access to opportunity, protects human rights and dignity, and ensures that no country or community is excluded from the digital future,' she added. Mahanyele-Dabengwa is renowned for her groundbreaking role as the first Black woman CEO of Naspers South Africa, a position she has held since 2019. Her journey from Soweto to the helm of one of Africa's largest tech and media groups epitomises resilience, vision, and transformative leadership. Born in 1971 in Meadowlands, Soweto, Mahanyele-Dabengwa's early life was marked by frequent relocations, including stints in Durban, Lesotho and various parts of Johannesburg. Despite facing challenges, such as the loss of her mother at 17, she earned herself a BA in Economics from Rutgers University in the USA in 1993 and an MBA from De Montfort University in the UK in 1996. In 2008, she completed an executive programme at Harvard's Kennedy School. Mahanyele-Dabengwa's career started at Fieldstone Private Capital Group in New York City, where she specialised in infrastructure finance, eventually becoming vice-president of its South Africa office. When she returned to South Africa, she led the project finance department at the Development Bank of Southern Africa, before joining Cyril Ramaphosa's Shanduka Group in 2004. As CEO, she steered Shanduka to securing deals with global brands like Coca-Cola and McDonald's South Africa. In 2015, she co-founded Sigma Capital, an investment holding company, before catching the attention of Naspers, leading to her historic appointment as CEO of Naspers South Africa. Under her tenure, Naspers has helped grow the South African tech ecosystem through early-stage tech investment startup unit Naspers Foundry, which invested and supported high-growth local startups. Naspers continues to invest in its leading lifestyle e-commerce subsidiary companies Property24, AutoTrader, Mr D Food and media group, Media24. Mahanyele-Dabengwa serves on several boards, including Vodacom, and she is also an executive director of the Naspers and Prosus boards. Mahanyele-Dabengwa, who is also committed to social development of especially young people, is involved with the life-changing work of the Cyril Ramaphosa Foundation and Global Dignity South Africa, focusing on education and youth empowerment. Her contributions have earned her many accolades, including Forbes Woman Africa's Businesswoman of the Year in 2014 and CNBC Africa's All Africa Business Leaders Woman of the Year in 2019. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
Yahoo
19-05-2025
- Business
- Yahoo
Prosus launches £3.4bn takeover offer for Just Eat in deal ‘milestone'
Dutch technology investor Prosus has formally launched its 4.1 billion euro (£3.4 billion) agreed takeover of Just Eat to create a European tech 'champion'. Prosus, which is majority-owned by South Africa's Naspers, has agreed to pay 20.30 euro (£17.07) a share to buy the takeaway delivery giant. The firm already owns a 28% stake in Just Eat rival Delivery Hero. Just Eat will continue to be based in Amsterdam under its current name and will maintain its key brands following the deal, the firms said. It comes after the pair provisionally agreed the deal in February amid a flurry of deals in the sector, with UK-listed Deliveroo recently announcing a £2.9 billion takeover by its US rival DoorDash. Prosus said it would be the fourth largest food delivery group in the world following the takeover. Jitse Groen, chief executive and founder of Just Eat said: 'The launch of the offer marks an important milestone in the transaction process. 'We are excited about the future and the opportunities this brings and recommend that our shareholders tender their shares and vote in favour of the resolutions at the upcoming extraordinary general meeting.' Fabricio Bloisi, chief executive of Prosus, added: 'Europe is at a pivotal moment to create a new generation of AI-powered tech champions, and this transaction is a unique opportunity to lead that transformation.' Prosus said it 'does not envisage material reductions in the total workforce of the Just Eat Takeaway Group' following the deal. Mr Bloisi has previously said he expects to grow the number of full-time workers Just Eat employs and its number of couriers. Shareholders in Just Just will vote on the deal at a meeting held on July 8 in Amsterdam. The planned all-cash offer comes after a difficult past few years for Amsterdam-based Just Eat, which had enjoyed booming business – and a soaring share price – during the pandemic when households were forced to eat at home, but saw trading and its stock price pare bask sharply when lockdowns ended. Prosus already has a food business spanning 70 countries, with full ownership of Latin American food delivery platform iFood, as well as the stake in Delivery Hero, a 4% holding in global food delivery giant Meituan and a 25% stake in India's recently floated food and grocery delivery platform, Swiggy. It has had its sights on Just Eat for many years, having lost out to Netherlands-based firm in the battle to buy Just Eat in early 2020. Since then, Just Eat bought US food-ordering platform Grubhub in an ill-fated deal, paying 7.3 billion US dollars (£5.8 billion) at the height of the takeaway boom in 2021, only to offload the business for 650 million dollars (£514 million) last November. Just Eat also delisted from the London Stock Exchange last December to focus on its Amsterdam listing amid cost-cutting efforts. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
The Independent
19-05-2025
- Business
- The Independent
Prosus launches £3.4bn takeover offer for Just Eat in deal ‘milestone'
Dutch technology investor Prosus has formally launched its 4.1 billion euro (£3.4 billion) agreed takeover of Just Eat to create a European tech 'champion'. Prosus, which is majority-owned by South Africa's Naspers, has agreed to pay 20.30 euro (£17.07) a share to buy the takeaway delivery giant. The firm already owns a 28% stake in Just Eat rival Delivery Hero. Just Eat will continue to be based in Amsterdam under its current name and will maintain its key brands following the deal, the firms said. It comes after the pair provisionally agreed the deal in February amid a flurry of deals in the sector, with UK-listed Deliveroo recently announcing a £2.9 billion takeover by its US rival DoorDash. Prosus said it would be the fourth largest food delivery group in the world following the takeover. Jitse Groen, chief executive and founder of Just Eat said: 'The launch of the offer marks an important milestone in the transaction process. 'We are excited about the future and the opportunities this brings and recommend that our shareholders tender their shares and vote in favour of the resolutions at the upcoming extraordinary general meeting.' Fabricio Bloisi, chief executive of Prosus, added: 'Europe is at a pivotal moment to create a new generation of AI-powered tech champions, and this transaction is a unique opportunity to lead that transformation.' Prosus said it 'does not envisage material reductions in the total workforce of the Just Eat Takeaway Group' following the deal. Mr Bloisi has previously said he expects to grow the number of full-time workers Just Eat employs and its number of couriers. Shareholders in Just Just will vote on the deal at a meeting held on July 8 in Amsterdam. The planned all-cash offer comes after a difficult past few years for Amsterdam-based Just Eat, which had enjoyed booming business – and a soaring share price – during the pandemic when households were forced to eat at home, but saw trading and its stock price pare bask sharply when lockdowns ended. Prosus already has a food business spanning 70 countries, with full ownership of Latin American food delivery platform iFood, as well as the stake in Delivery Hero, a 4% holding in global food delivery giant Meituan and a 25% stake in India's recently floated food and grocery delivery platform, Swiggy. It has had its sights on Just Eat for many years, having lost out to Netherlands-based firm in the battle to buy Just Eat in early 2020. Since then, Just Eat bought US food-ordering platform Grubhub in an ill-fated deal, paying 7.3 billion US dollars (£5.8 billion) at the height of the takeaway boom in 2021, only to offload the business for 650 million dollars (£514 million) last November. Just Eat also delisted from the London Stock Exchange last December to focus on its Amsterdam listing amid cost-cutting efforts.
Yahoo
19-05-2025
- Business
- Yahoo
Prosus launches £3.4bn takeover offer for Just Eat in deal ‘milestone'
Dutch technology investor Prosus has formally launched its 4.1 billion euro (£3.4 billion) agreed takeover of Just Eat to create a European tech 'champion'. Prosus, which is majority-owned by South Africa's Naspers, has agreed to pay 20.30 euro (£17.07) a share to buy the takeaway delivery giant. The firm already owns a 28% stake in Just Eat rival Delivery Hero. Just Eat will continue to be based in Amsterdam under its current name and will maintain its key brands following the deal, the firms said. It comes after the pair provisionally agreed the deal in February amid a flurry of deals in the sector, with UK-listed Deliveroo recently announcing a £2.9 billion takeover by its US rival DoorDash. Prosus said it would be the fourth largest food delivery group in the world following the takeover. Jitse Groen, chief executive and founder of Just Eat said: 'The launch of the offer marks an important milestone in the transaction process. 'We are excited about the future and the opportunities this brings and recommend that our shareholders tender their shares and vote in favour of the resolutions at the upcoming extraordinary general meeting.' Fabricio Bloisi, chief executive of Prosus, added: 'Europe is at a pivotal moment to create a new generation of AI-powered tech champions, and this transaction is a unique opportunity to lead that transformation.' Prosus said it 'does not envisage material reductions in the total workforce of the Just Eat Takeaway Group' following the deal. Mr Bloisi has previously said he expects to grow the number of full-time workers Just Eat employs and its number of couriers. Shareholders in Just Just will vote on the deal at a meeting held on July 8 in Amsterdam. The planned all-cash offer comes after a difficult past few years for Amsterdam-based Just Eat, which had enjoyed booming business – and a soaring share price – during the pandemic when households were forced to eat at home, but saw trading and its stock price pare bask sharply when lockdowns ended. Prosus already has a food business spanning 70 countries, with full ownership of Latin American food delivery platform iFood, as well as the stake in Delivery Hero, a 4% holding in global food delivery giant Meituan and a 25% stake in India's recently floated food and grocery delivery platform, Swiggy. It has had its sights on Just Eat for many years, having lost out to Netherlands-based firm in the battle to buy Just Eat in early 2020. Since then, Just Eat bought US food-ordering platform Grubhub in an ill-fated deal, paying 7.3 billion US dollars (£5.8 billion) at the height of the takeaway boom in 2021, only to offload the business for 650 million dollars (£514 million) last November. Just Eat also delisted from the London Stock Exchange last December to focus on its Amsterdam listing amid cost-cutting efforts. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
