Naspers, led by South African billionaire Koos Bekker, expects major economic growth from e-commerce and digital platforms. By 2035, these sectors are predicted to contribute R91.4 billion ($5.2 billion) to South Africa’s economy, or 1.38 percent of GDP.
This projection is based on Naspers’ research conducted in partnership with the Mapungubwe Institute for Strategic Reflection. According to the report, economic gains could be seen even sooner if the country’s growth rate rises to approximately 3%. Machete Rakabe, Senior Researcher at Mistra, emphasized the importance of infrastructure enhancements, such as upgraded data centers and digital identification systems, in order to fully realize the promise of digital platforms.
Despite persisting issues such as energy shortages and decaying infrastructure, which have kept South Africa’s GDP growth to less than 1% over the last decade, digital platforms now contribute around R5 billion ($281.6 million) to the economy. The new government of national unity, formed following the May 29 elections, has the potential to advance necessary reforms and investments.
Phuthi Mahanyele-Dabengwa, CEO of Naspers South Africa, emphasized the company’s commitment to promoting inclusive economic growth. She stated that the worldwide move toward digital platforms represents a tremendous opportunity for South Africa, with the potential to create up to 340,000 jobs by 2035 in a country with one of the highest unemployment rates.
Naspers, a South African multinational with a global presence in internet, media, and technology, has a diverse portfolio that includes online retail, publishing, and venture capital. It operates on five continents and serves over two billion people.
Koos Bekker, a South African business giant, is credited for changing Naspers from a traditional newspaper publisher to a leader in e-commerce and cable TV. Despite owning only 0.85 percent of the corporation (1,687,887 ordinary shares), Bekker continues to have a substantial effect on its direction.
This year, the company’s share price has increased by more than 16 percent, bringing its market capitalization to R659 billion ($37.3 billion). Naspers just completed an R44 billion ($2.4 billion) share buyback, the highest in Johannesburg Stock Exchange history.
