October 26, 2018 / 7:14 AM / 19 days ago

South Africa's Naspers to invest $ 315 million in technology expansion

JOHANNESBURG, Oct 26 (Reuters) - South African media and e-commerce giant Naspers said on Friday it would invest 4.6 billion rand ($315 million) over the next three years in its technology businesses and to fund technology start-ups.

Naspers said in a statement ahead of an investment summit called by President Cyril Ramaphosa it would allocate 3.2 billion rand to developing its existing technology businesses including the OLX Group, Takealot, and Mr D Food. Naspers said 1.4 billion rand would be used to fund technology start-ups. ($1 = 14.5850 rand) (Reporting by Tanisha Heiberg Editing by James Macharia)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below