JSE-isted media and internet firm, Naspers, has injected an additional R960 million into online retailer, Takealot.<\/p>\n
This follows earlier investments from both Tiger Global and Naspers in 2015.<\/p>\n
Naspers acquired a 46.5% interest in Takealot in exchange for the contribution of its e-commerce business, Kalahari.com, and the issue of 612,977 Naspers N ordinary shares for R1.2 billion in 2015.<\/p>\n
Takealot Online’s stable of businesses includes Takealot.com<\/strong>, general etailer, Superbalist.com<\/strong>, fashion etailer, Mr D Food<\/strong>, restaurant food delivery service, and Mr D Courier<\/strong>, its point to point courier service.<\/p>\n Takealot said it has filed a large merger notification with the South African Competition Commission in anticipation of finalising the investment from Naspers, which would make Naspers the majority shareholder in Takealot.<\/p>\n \u201cWe are excited about this latest investment as it will allow us to continue to grow the business in a market with huge potential,\u201d said Takealot CEO Kim Reid.<\/p>\n Retail remains a highly competitive market in South Africa, and online retail accounts for less than 2% of the non-grocery retail market and less than 1% of the total retail market.<\/p>\n By comparison, online retail penetration is in the teens in the US and UK retail markets, and at 17% in China, according to Euromonitor.<\/p>\n
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