by Staff Writer
Africa’s tech and ecommerce giant Naspers has injected close to R1 billion in Takealot Online.
Naspers said in a statement that the investment underlines continued commitment to Takealot and confidence in the potential of South Africa’s ecommerce sector.
Takealot boasts a stable of businesses including Takealot.com, South Africa’s leading general etailer, Superbalist.com, the fashion etailer, Mr D Food, South Africa’s largest restaurant food delivery service, and Mr D Courier, its point to point courier service.
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.
With online retail penetration, according to Euromonitor, in the teens in the US and UK
retail markets, and at 17% in China, the potential in South Africa is clear to see.
“We are super excited about this latest investment as it will allow us to continue to grow
the business in a market with huge potential,” said Takealot Founder and CEO Kim Reid.
“Naspers has been a wonderful supporter of our business and we are grateful for their ongoing commitment and show of confidence in both the business and the market. This is great news for our customers and employees alike.”