Naspers Boosts South Africa Investments Ahead of Amazon Arrival

Local Naspers head Mahanyele-Dabengwa welcomes the competition
Amazon to start online retail business in South Africa in 2024

WATCH: “We are investing a lot more into our businesses,” Phuthi Mahanyele-Dabengwa, CEO of Nasper’s South African unit, says.Source: Bloomberg

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By Loni Prinsloo, Jennifer Zabasajja, and Janice Kew

January 10, 2024 at 10:18 AM UTC

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Naspers Ltd., Africa’s largest company by market value, is boosting investment into its South African online retailer ahead of Amazon.com Inc.’s entry into the country’s fast-growing ecommerce market.

“We are investing a lot more into our businesses,” Phuthi Mahanyele-Dabengwa, chief executive officer of Naspers’ South African unit, said in an interview on Bloomberg TV Wednesday. “We are well positioned toward being able to deal with whatever could be coming from Amazon.”