Naspers sees $5.2 billion e-commerce boost for South Africa

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.

Naspers Ltd., the international powerhouse originating from South Africa, continues to assert its influence on the global digital landscape. With a market capitalization of approximately $36.52 billion as of August 2024 [1], Naspers ranks as the world's 557th most valuable company [1]. However, its significance extends far beyond these figures, as it is the largest company in Africa by market value [2].

Naspers, a publishing company established in 1915, has transformed into a digital and technological powerhouse. Its subsidiary, Prosus, is one of the main internet and online service companies worldwide, with a total revenue of around $22 billion in 2020 [2]. The company's total assets amounted to approximately $66 billion in 2023 [2].

One of Naspers' most notable contributions to the African economy is its ownership of Takealot.com, one of the continent's most popular e-commerce platforms. The growing importance of e-commerce in South Africa is evidenced by Takealot.com's success [3]. According to a recent Business Wire report, Naspers expects digital platforms, including e-commerce, to inject a significant $91.4 billion (5.2 billion rand) into the South African economy by 2035 [3].

Africa's digital revolution is not limited to Naspers. The continent is home to 29 stock exchanges, with the Johannesburg Stock Exchange (JSE) being the leading bourse [2]. The JSE, which ranks among the largest stock exchanges in Europe, the Middle East, and Africa, boasts a total market capitalization of over $1.1 trillion as of 2023 [2].

South Africa's thriving stock market is not its only digital success story. In 2020, the Nigerian stock market was the best-performing on the continent, with MTN Nigeria and Dangote Cement ranking as the leading companies listed in the Nigerian Exchange Group [2]. The Egyptian Stock Exchange also played a crucial role, with 218 listed companies in 2022 [2].

Naspers' digital dominance extends beyond the borders of South Africa, fueling the continent's economic growth and transforming the way people live, work, and connect.