Naspers.jpg” alt=”” />

E-commerce company Naspers has announced its plans to invest R960m ($69m) in South African e-retailer Takealot Online.

The latest development follows an additional investment from Tiger Global in 2015.

Takealot said a large merger notification has been filed with the South African Competition Commission, in order to receive investment from Naspers.

With this funding, Naspers would become the majority shareholder in Takealot.

“The team continues to drive exciting growth and shows great promise in a market we expect to go from strength to strength.”

Takealot founder and CEO Kim Reid said: “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.”

Merged with Kalahari in 2014, Takealot has a group of businesses such as general e-tailer takealot.com, fashion e-tailer Superbalist.com, restaurant food delivery service Mr D Food, and point-to-point courier services Mr D Courier.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Naspers B2C e-commerce CEO Oliver Rippel said: “The team continues to drive exciting growth and shows great promise in a market we expect to go from strength to strength.

“We are pleased to support their ambitions to build an enduring e-commerce business for South African consumers and Takealot’s partners alike.”

Online retail in South Africa accounts for less than 2% of the non-grocery retail market and less than 1% of the total retail market.


Image: Naspers building in Cape Town, South Africa. Photo: courtesy of CC-BY-SA-2.5 via Wikipedia.