Naspers to invest R1.4bn in SA tech start-ups

Source: BizNews

Naspers Limited, the multinational Internet group which is known for its principal operations in Internet communication, entertainment, gaming and e-commerce, held its 106th annual general meeting last week.

Naspers Limited, the multinational Internet group which is known for its principal operations in Internet communication, entertainment, gaming and e-commerce, held its 106th annual general meeting

Following the Prosus listing, Naspers is still the largest South African company on the JSE.
We are one of the foremost investors in the South African technology sector, with the country’s leading etailer and its leading print and digital media business.
Through Naspers Foundry we aim to invest R1.4bn in the next generation of outstanding South African tech start-ups in the coming years. And Naspers Labs is pioneering an innovative hyper-local programme to tackle youth unemployment.

We also continue to contribute significantly in terms of tax: in total, Naspers group paid R13.2bn in taxes in South Africa during the year. In April 2020 we donated R1.5bn in emergency aid to the government’s response to the Covid-19 crisis.

This comprised R500m to the Solidarity Response Fund announced by President Cyril Ramaphosa, and R1bn of personal protective equipment and other medical supplies, which we sourced in China, in partnership with the Chinese government and Tencent, to support South Africa’s health workers.

This included the logistics to fly the equipment to South Africa and, in conjunction with the South African government, the distribution to medical facilities across the country.

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