South Africa Company, Naspers, Becomes Africa Largest Company By Market Value

South Africa’s multinational mass media company, Naspers, is now the biggest publicly traded company by market value in Africa. This came to be as a result of the sale of bonds to fund emerging market internet acquisitions.

In a July 15 statement released by the company, $1.2billion was raised to partly fund purchases, reports Bloomberg.

The company have been aggressively scouring the globe for new internet acquisitions as consumers make the switch to mobile and smart devices for operations such as shopping, banking, among other things.

This company owns OLX, MultiChoice (DSTV) among other businesses. 

Source: TechLoy