Naspers’ push to build a global e-commerce business to rival the likes of Amazon and Uber is the focus in this edition of the Business Day Spotlight.
Host Mudiwa Gavaza is joined by Fabricio Bloisi, group CEO of Naspers and Prosus.
Bloisi outlines the interim financial performance of the JSE’s largest technology group.
The Naspers boss has reoriented the group around three main geographies, or ecosystems: Europe, Latin America and India.
The strategy appears to be bearing fruit, as Naspers reported a strong set of interim results driven by e-commerce growth and is on track to deliver its guidance of $1.1bn plus in adjusted earnings before interest, tax, depreciation and amortisation (ebitda) for the full year.
Consolidated revenue for the six months to September grew 20% to $4.1bn, driven by strong growth from iFood in Latin America (LatAm), OLX in Europe and PayU in India.
E-commerce adjusted ebitda grew 71% to $557m.
Naspers’ strategy is premised on building ecosystems of e-commerce businesses that work together to dominate the group’s various operating regions.
Having completed the €4.1bn takeover of UK based Just Eat Takeaway.com, the tech executive details growth in Europe.
The group has also seen successful listings for its investments in India: Urban Company and Meesho.
Bloisi also highlights the group’s plan to leverage AI for its growth.
Through the discussion, Bloisi outlines plans for growth; financial performance; views on Europe, Latin America and India; importance of ecosystems and growth of AI.
Join the discussion:
Producer: Demi Buzo
Business Day Spotlight is an Arena Podcasts Production.
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