Africa's most valuable company Naspers ups investment in South Africa's largest e-commerce company Takealot

Kim Reid, Founder & Co-CEO, Takealot

Naspers, Africa’s biggest ecommerce and digital company, has just invested R960 million (about $69.4 million) in Takealot Online, South Africa‘s largest ecommerce company.

“We are super excited about this latest investment as it will allow us to continue to grow the business in a market with huge potential,” said Takealot founder and CEO Kim Reid. “Naspers has been a wonderful supporter of our business and we are grateful for their ongoing commitment and show of confidence in both the business and the market. This is great news for our customers and employees alike.”

Naspers is Africa’s largest listed company and will hold a majority stake in Takealot. The transaction must still be cleared by South Africa’s Competition Commission

Read more: Africa's Largest Company Naspers Ups Investment In Takealot, South Africa's Biggest Ecommerce Firm