TakealotNaspers, Africa's biggest ecommerce and digital company, has just invested R960-million (about $69.4-million) into Takealot Online, South Africa's largest ecommerce site. This is great news for our customers and employees alike.”Naspers is Africa's largest listed company and will take the majority shareholder in Takealot, which must still be cleared by South Africa's Competition Commission. Naspers will now have 53,5% Takealot and Tiger Global will own about 34%. After receiving $100-million investment from investment company Tiger Global Management in May 2014, Takealot merged with its Naspers-owned Kalahari competitor in October 2014. This latest investment "underlines the continued commitment to Takealot and confidence in the potential of South Africa’s ecommerce sector."

Source: Forbes April 11, 2017 17:01 UTC