So, let’s dissect it a little – that’s only $250-million of which most will be going into the investments they already have here eg: Takealot and OLX (both unprofitable). Mayoral Committee…, With the challenges of the coronavirus pandemic during 2020, multiple retailers plan to launch their Black Friday sales early and extend promotions through the…, Karri, a South African school payment’s startup has expanded its offering as it launches a new feature on its mobile app to screen students…, Nigerian-based healthtech startup, 54gene, has launched a Clinical Program Services (CPS) division. He was appointed chief executive of Naspers in April 2014. It’s more likely than not that you are a Naspers shareholder, albeit indirectly. © Memeburn 2018, a Burn Media publication. Du kan lese mer om hvordan vi bruker informasjonen din, i retningslinjene for personvern og retningslinjene for informasjonskapsler. CEO Bob van Dijk talked to ET’s Biswarup Gooptu, Madhav Chanchani & Arijit Barman about the company’s next big bets. Bob Van Dijk, CEO of Naspers, is the inaugural Business Maverick Businessperson of the Year. window.mc4wp.listeners.push( Van Dijk’s remuneration was made up as follows: $1.36-million (R23.5-million) in base salary; The Naspers share price performance of around 24% year-to-date could’ve been so much better this year. As shareholders (and perhaps the board too), we still have the power to stop the listing in the Netherlands, or at least raise our voices around this issue – we’ve truly lost the war about appointing South Africans and using SA skills in the company, let’s at least make a last-ditch attempt at this part. Prosus owns companies like Olx and PayU, with minority stakes in multiple companies including Udemy and Mail.ru – a genuinely global portfolio. Across the world South Africans have proven to be pioneers (we do that well), Elon Musk (Tesla, SpaceX), Roelof Botha (Sequoia), Pieter de Villiers (Clickatell), to name but a very few, the list carries on, yet not one is left in Naspers any more. AngloPlatinum also made impressive gains. Appointing Bob van Dijk as CEO of Naspers is the biggest mistake Koos Bekker could have made for SA and for his legacy.
Now, Tencent’s market cap is $660bn in round numbers. } Select which newsletters you'd like to receive, Van Dijk deserves credit for that, above all, which is why despite all the headwinds, he gets our vote for.
The startup scene was once a budding e-commerce and fintech ecosystem, has all but died. Remember, the Naspers market cap is only R1.3 trillion. “This creates significant uncertainty, which may mean that we need to adjust the objectives for the short-term incentives plan as such effect becomes clearer during the course of FY2021. He previously was the CEO of the Allegro division. That’s nearly double the total investment into SA, going on a “maybe” (Side note: there’s been a big noise about LetGo having hit 100 million app downloads – compare that to Craigslist that has 450 million unique visitors a month. Yet, for all kinds of reasons, the standout company of the year was Naspers with the unbundling of Multichoice, the listing of Prosus in Holland, and the subsequent battle for Just Eat. He was to be the natural successor to Bekker as CEO, being a key player in the investments into Mail.ru, Tencent and others.
Currently, he is the CEO of Naspers, a multinational company whose investment interests reside on majorly but not limited to technology and media. He was however instrumental in launching M-Net, Multichoice, DSTV, MTN etc. This, before Facebook fully even switches on its marketplace). Naspers holds 72% of Prosus and Prosus owns 31% of Tencent. I don’t take any of this away from him and he’s been well rewarded and at the same time become fabulously wealthy through this. Our content is intended to be used and must be used for informational purposes only.
It’s a monster. The second reason is that the company kinda wanted it that way: its very success was partly by cannily going places the Americans were neglecting. Naspers and Prosus chief financial officer Basil Sgourdos, “Given the longer-term focus of the company, and the prudent approach on pay and bonuses, it will still be appropriate to issue long-term incentive awards in the coming year, though the grant date will be postponed until August or early September, in line with the LTI awards to the broader employee population this year.” — (c) 2020 NewsCentral Media, MTN joins Cell C in the MVNO platform business, Canal+ doubles its stake in MultiChoice as buying spree continues, Democracy dies when Facebook and Twitter define the truth, The biggest IPO in history is stoking an investor frenzy, Pick n Pay can now e-mail you your till slips, International Space Station marks 20 years of manned orbit, Ex-Uber GM Alon Lits joins on-demand armed response platform Aura, ‘Who the hell elected you?’: US senators in showdown with Big Tech, Zimbabwe security forces ordered mobile money ban: sources, ESET launches ESET Cloud Office Security: Advanced protection for Microsoft 365, SA finalists named in Huawei Apps UP Global Developer Competition, Watch | CommScope discusses wireless networks of the future. Since he took over, Van Dijk has removed every single senior South African heading up any part of the company around the world, he has appointed all his mates and fellow eBay managers in positions of power around him. Naspers was started more than a 100 years ago, by a bunch of Afrikaners in Stellenbosch.
Ok, not such a big deal – R16m for a CEO and just over R9m for a CFO isn’t the end of the world, is it? But this is where one needs to take note of the Naspers history and see where this story is heading. This is enabled through an embedded e-SIM in….
Around this time Van Dijk steps into the ring. It needs to be written and attention drawn to the below before we lose everything Naspers got from and created for South Africa. That’s because not only does Naspers continue to trade at a massive discount, but now Prosus is trading at a discount too! Bob van Dijk serves as Chief Executive Officer, Executive Director of the Company.
Its been an incredible story. In turn,…. The money used to grow and invest in all these companies came out of Naspers, out of the fruits of the labour of thousands of South Africans. Naspers still retains a 31% stake in Tencent that is valued at around $100 billion (with a B).
But before we talk about the present, let’s revisit history and how things developed, how Naspers came to pass and why I make this point. The reality is that van Dijk and his executive team need to go. But as per usual, the credit for that goes primarily to the commodities they mine rather than to any great business skill – although of course, positioning a mining company to take advantage of a rising commodity price is a real skill in itself. This gap is known as a discount to NAV (net asset value) and is a concern for numerous investment holding companies, but the situation is particularly bad at Naspers. This new sector of 54gene will provide end-to-end clinical development services, intelligence, logistics,…, Linda Zwane, Head of Data Management at Standard Bank Eswatini, unpacks her experience in the tech space and how the gender bias compromises the sector. The share price is down following the listing and the company is still tracking Tencent pretty closely. And third, CEO Bob van Dijk’s role has been overshadowed by the company’s talisman Koos Bekker, who remains a powerful, if not dominant force, in his role as Naspers chairman and board member of Prosus. Bekker has only been CEO of Naspers since 1997. Featured image: Naspers chairman Koos Bekker (Facebook).
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