Naspers Ltd., Africa\u2019s largest company by market value, is boosting investment into its South African online retailer ahead of Amazon.com Inc.\u2019s entry into the country\u2019s fast-growing e-commerce market.\u00a0<\/p>\n\n\n\n
\u201cWe are investing a lot more into our businesses,\u201d Phuthi Mahanyele-Dabengwa, chief executive officer of Nasper\u2019s South African unit, said. <\/p>\n\n\n\n
\u201cWe are well positioned toward being able to deal with whatever could be coming from Amazon.\u201d<\/p>\n\n\n\n
South Africa is the continent\u2019s most developed economy and has a youthful population, together with one of the largest upper-middle-income markets in the region. Its potential is drawing increasing attention from retail giants like Walmart Inc. and Amazon, which will roll out online delivery there this year.<\/p>\n\n\n\n
Naspers owns Takealot, South Africa\u2019s top online retailer, and has been expanding its services to include one-hour delivery for ranging from phone chargers to toys, in anticipation of Amazon\u2019s arrival. <\/p>\n\n\n\n
E-commerce only makes up about 4% of South African retail, presenting the opportunity to grow the market three to five times faster than in peer countries, Takealot Chief Executive Officer Mamongae Mahlare said last year.<\/p>\n\n\n\n
Online retail sales in South Africa grew 30% to R55 billion in 2022, according to a study by market research firm World Wide Worx.<\/p>\n\n\n\n
\u201cIt\u2019s good for South Africa that Amazon is attracted to coming into the market,\u201d Mahanyele-Dabengwa said.\u201c At Takealot I think we\u2019re very well positioned. We know our market very, very well.\u201d<\/p>\n\n\n\n