Naspers
History
Naspers is a global internet group and one of the largest technology investors in the world. Originating in South Africa, Naspers was founded in 1915 as a newspaper and magazine publisher under the name De Nasionale Pers Beperkt (The National Press Ltd). The company has since evolved into a multinational internet and media group, offering services in more than 130 countries.
In 1985, Naspers launched M-Net, the first pay television service outside the United States. M-Net diversified into the internet sector in the mid-1990s, and in 1997, Naspers merged with M-Net, forming the MIH Group. This merger marked the beginning of Naspers' focus on the internet and technology sectors.
In the early 2000s, Naspers began investing in various internet businesses, including mail.ru, a leading Russian internet company, and Tencent, a Chinese internet and technology giant. These investments have proven to be highly successful, with the Tencent investment in particular being one of the most profitable technology investments ever made.
Business Operations
Naspers operates in various sectors of the internet industry, including online classifieds, payments and fintech, food delivery, e-tail, travel, education, and social and internet platforms. The company operates through its main subsidiaries, Prosus and Media24.
Prosus, a global consumer internet group, is one of the largest technology investors in the world. It operates and invests globally in markets with long-term growth potential, building leading companies that empower people and enrich communities. Prosus has a primary listing on Euronext Amsterdam and a secondary listing on the Johannesburg Stock Exchange.
Media24, the largest digital publisher in Africa, has a portfolio of media products that includes digital media, newspapers, magazines, ecommerce, book publishing, print and distribution. It is a subsidiary of Naspers and is one of the foremost media companies in South Africa.
Financial Performance
Naspers has a strong financial performance, driven by its successful investments in various technology companies. The company's investment in Tencent, in particular, has significantly boosted its financial performance. As of 2020, Naspers is the largest company in Africa by market capitalization.
Criticism and Controversy
Naspers has faced criticism and controversy over the years. During the apartheid era in South Africa, Naspers was accused of being a mouthpiece for the apartheid government. The company has since apologized for its role during this period.
In recent years, Naspers has also faced criticism over its corporate governance practices, particularly in relation to its control structure. Critics argue that this structure, which gives control to a small group of shareholders, is not in the best interest of all shareholders.