Naspers
South African multinational technology and media holding company with major consumer-internet, e-commerce, publishing and venture-investment interests.
Last updated November 4, 2026
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Overview
Naspers is a South African multinational holding company whose businesses and investments span consumer internet, e-commerce, online classifieds, food delivery, fintech, education technology, digital media, publishing, property listings and venture capital. Headquartered in Cape Town and listed on the Johannesburg Stock Exchange, the group is one of Africa's most prominent technology investors and is best known internationally for its early investment in Tencent. The company began in 1915 as Die Nasionale Pers, or National Press, a publisher established by attorney William Angus Hofmeyr with close historical links to Afrikaner nationalism and South Africa's National Party. Its early activities centred on Afrikaans newspapers and magazines, including Die Burger and Die Huisgenoot. During the twentieth century it expanded into English- and Xhosa-language publishing, educational and general books, magazines, newspapers and printing. Its publishing portfolio eventually included titles serving different language and demographic markets, including City Press, Drum and True Love & Family. Naspers began diversifying beyond publishing in the 1980s. It helped establish the subscription television service M-Net and subsequently developed interests connected with MultiChoice and M-Web. These businesses gave the group exposure to broadcasting, telecommunications and international media markets. The company became publicly listed in Johannesburg in 1994 and formally adopted the Naspers name in 1998. It then accelerated its move toward digital businesses, launching or developing online properties such as Media24, Kalahari.com and SportCN. The decisive turning point came in 2001, when Naspers acquired a substantial minority stake in Tencent, the Chinese internet company. Tencent later became one of the world's largest technology companies, making the investment exceptionally valuable and transforming Naspers into a major global technology investor. Naspers subsequently built or acquired positions in companies involved in online classifieds, retail, payments, food delivery, travel, education and other consumer-internet categories. Its international portfolio has included OLX, PayU, iFood, Swiggy, Delivery Hero, eMAG, VK and a range of education-technology businesses. Naspers has reorganised its assets several times to separate South African operating businesses from international investments. In 2015, its Kalahari.com online retail operations were combined with Takealot.com, creating South Africa's leading online retailer. In 2019, its video-entertainment operations were separated into MultiChoice Group, which was listed independently on the Johannesburg Stock Exchange. The same year, Naspers listed its global internet investment division, Prosus, on Euronext Amsterdam. Prosus became the principal vehicle for many of Naspers' international technology investments, including its Tencent holding. A 2021 share-exchange arrangement between Naspers and Prosus was intended to address the persistent gap between the market value of each company and the value of their underlying assets. After the transaction, Naspers held approximately 56.92% of Prosus, while Prosus acquired approximately 49% of Naspers, creating a cross-ownership structure. In addition to Prosus, Naspers's South African interests include Media24, Takealot.com, Property24 and Naspers Foundry. Naspers Foundry stopped making new investments in 2023 while retaining its existing portfolio. Naspers's history also carries a significant political and social legacy. Its predecessor supported the National Party during the apartheid era, and historical records have documented financial and editorial relationships between the publishing business and the party. The company declined to make an institutional submission to the Truth and Reconciliation Commission in the 1990s, although employees made individual submissions and apologies. Later statements and apologies have addressed aspects of t…
History
Naspers was established in 1915 as Die Nasionale Pers Beperkt, commonly shortened to Naspers, by attorney William Angus Hofmeyr and a group of prominent Cape Afrikaners. The company was created as a publishing enterprise with a strong Afrikaner-nationalist orientation. Its first major newspaper, Die Burger, began publication in 1915, followed by the magazine Die Huisgenoot in 1916. The business expanded outside the Cape Province in 1917 through the acquisition of the newspaper Het Volksblad. Publishing remained Naspers's central activity for much of the twentieth century. The company developed Afrikaans newspapers, magazines and books, later adding English- and Xhosa-language publishing. It entered general and educational book publishing in the late 1910s, created or acquired book-publishing subsidiaries, and expanded its magazine portfolio. In 1984, it acquired Drum Publications, bringing titles such as City Press, Drum and True Love & Family into the group and broadening its reach among black South African readers. The publishing group began a major diversification during the 1980s. In 1986, it partnered with other South African media companies to establish M-Net, a subscription television service. M-Net and related businesses, including MultiChoice and M-Web, developed into substantial broadcasting, pay-television and telecommunications operations in South Africa and other regions. Naspers became a public company on the Johannesburg Stock Exchange in 1994 and changed its formal name to Naspers Limited in 1998. The late 1990s marked a shift toward digital media and internet businesses. Naspers launched or developed online properties including Media24, Kalahari.com and SportCN. In 2001, it acquired a large minority position in Tencent. Tencent's subsequent growth in social networking, online gaming, digital services and fintech made the investment one of the most valuable technology investments made by a media company, and it changed Naspers's strategic identity from a predominantly South African publisher and broadcaster into a global consumer-internet investment group. From the mid-2000s onward, Naspers built an international portfolio through acquisitions and minority investments. It acquired a significant position in the Russian internet group that later became Mail.ru Group and participated in the development of online marketplaces, classifieds, payments, food delivery, travel and educational technology businesses. Its investment activity expanded particularly in India, where it backed companies including ibibo, Byju's and Swiggy. In 2015, Kalahari.com was combined with Takealot.com, consolidating Naspers's position in South African online retail. Naspers subsequently separated several major assets. In 2019, its video-entertainment operations were unbundled into MultiChoice Group, which became separately listed in Johannesburg. Naspers also placed its international internet investments into Prosus and listed Prosus on Euronext Amsterdam. Prosus included the Tencent holding and became the principal listed vehicle for the group's global technology portfolio. In 2021, Naspers and Prosus completed a share exchange designed to reduce the valuation discount applied to their holdings and simplify aspects of the relationship between the two companies. The arrangement produced a cross-ownership structure in which Naspers retained approximately 56.92% of Prosus and Prosus held approximately 49% of Naspers. The group continued to operate through Prosus internationally and through South African businesses including Media24, Takealot.com, Property24 and Naspers Foundry. Naspers's corporate history is inseparable from the political history of South Africa. Its predecessor supported the National Party and its newspapers were connected to the political structures that implemented and defended apartheid. Archival material has documented financial support for the National Party during the apartheid period. The company did not provide the institutional submission requested by the Truth and Reconciliation Commission, although employees made individual submissions and expressed remorse. Later company statements have acknowledged parts of this legacy, but the issue remains a significant subject in assessments of Naspers's history. In 2022, Prosus wrote off its investment in VK following Russia's invasion of Ukraine. In 2023, Naspers Foundry stopped making new investments while retaining its existing holdings. Naspers today combines a South African operating portfolio with an international technology-investment platform controlled through Prosus.
- 2021
Prosus-Naspers share exchange
[1]A cross-ownership arrangement is completed to address the valuation discount affecting the two related companies.
- 2019
MultiChoice unbundling and Prosus listing
[1]Naspers separates its video-entertainment business and lists its international internet investment division as Prosus.
- 2015
Takealot and Kalahari combination
[1]The two South African online retailers are combined, creating a leading domestic e-commerce business.
- 2001
Tencent investment
[1]Naspers acquires a major minority stake in Tencent.
- 1998
Formal adoption of the Naspers name
[1]Die Nasionale Pers formally changes its name to Naspers Limited.
- 1994
Johannesburg Stock Exchange listing
[1]The company becomes publicly listed in South Africa.
- 1986
Entry into subscription television
[1]Naspers forms a partnership that launches M-Net, beginning its major expansion beyond publishing.
- 1915
Die Nasionale Pers is founded
[1]William Angus Hofmeyr establishes the publishing company that later becomes Naspers.
- 1915
Die Burger begins publication
[1]The company launches its first major Afrikaans-language newspaper.
Products and positioning
A South African technology and media investment group combining global consumer-internet holdings with operating businesses in its home market.
International technology investment platform · 2019
Prosus
Prosus is Naspers's principal international consumer-internet investment platform. Its portfolio has included e-commerce, online classifieds, fintech, food delivery, travel, mobility and education technology businesses. It also holds the group's major Tencent investment and has served as the main listed vehicle for Naspers's global technology assets since its 2019 listing on Euronext Amsterdam.
Publishing and digital media · 1998
Media24
Media24 is Naspers's South African media operation and one of the country's largest publishing, newspaper, magazine, printing and distribution businesses. It represents the continuation of Naspers's historic publishing activities while also operating in contemporary digital media.
E-commerce marketplace
Takealot.com
Takealot.com is a South African online retailer and marketplace. It became Naspers's principal domestic e-commerce asset after the combination of Takealot.com with Kalahari.com in 2015, and is positioned as one of the country's largest online retail platforms.
Online property listings
Property24
Property24 is an online real-estate listings platform serving the South African market. It provides property advertisements for sale and rent and is part of Naspers's domestic digital-services portfolio.
Venture capital · 2019
Naspers Foundry
Naspers Foundry was a South Africa-focused early-stage venture-capital initiative supporting startups addressing large social and economic needs. Its portfolio included businesses in agritech, insurance, personal finance and home services. The fund stopped making new investments in 2023 but retained existing investments.
Strategic technology holding · 2001
Tencent investment
Naspers's early Tencent investment became the group's defining strategic holding. Tencent developed into a major Chinese internet company with businesses in social platforms, games, digital services and fintech, and its growth transformed Naspers into a globally recognised technology investor.
Controversies
2015
Limited apology concerning apartheid-era conduct
Media24 chief executive Esmare Weideman issued a limited apology concerning a specific employee's experience with segregated facilities. Critics noted that the statement did not constitute an unqualified apology for Naspers's broader role during apartheid.
1997
Truth and Reconciliation Commission submission controversy
The Truth and Reconciliation Commission requested a submission from Die Nasionale Pers concerning the media's role between 1960 and 1994. The company declined to make an institutional submission, although 127 employees submitted individual accounts and apologies.
1989
Funding and political support for the National Party
Historical records describe financial support from Die Nasionale Pers to South Africa's National Party during the apartheid era, alongside editorial support from group newspapers. These relationships have been criticised as part of the media infrastructure that supported apartheid.
Marketing campaigns
- 2019Naspers Labs
South Africa
Naspers launched Naspers Labs with RLabs as an economic and skills initiative aimed at unemployed young people in South Africa.
Brand decisions
2022
Write off the VK investmentOtherBackground
Russia's invasion of Ukraine created severe geopolitical, regulatory and market uncertainty around Prosus's investment in Russian internet company VK.
Action taken
Prosus wrote off its investment in VK.
Aftermath
The holding was removed from the group's carrying value after the investment became effectively impaired.
2021
Implement the Prosus-Naspers share exchangeStrategyBackground
The two listed companies were affected by a persistent discount between their market values and the value of their underlying assets.
Action taken
Naspers and Prosus completed a share exchange that created reciprocal ownership between the parent and its listed investment subsidiary.
Aftermath
Naspers held approximately 56.92% of Prosus, while Prosus acquired approximately 49% of Naspers.
2019
Separate MultiChoice from NaspersM&ABackground
Naspers reorganised its portfolio to distinguish its video-entertainment operations from its technology-investment activities.
Action taken
The MultiChoice business was unbundled to Naspers shareholders and listed separately on the Johannesburg Stock Exchange.
Aftermath
Naspers retained no stake in the newly listed MultiChoice Group.
2019
List Prosus in AmsterdamStrategyBackground
Naspers wanted a dedicated international listing for its global consumer-internet investments and to improve their visibility to international investors.
Action taken
The group listed Prosus, containing the international internet investment portfolio, on Euronext Amsterdam.
Aftermath
Prosus became one of Europe's largest listed consumer-internet companies by market capitalisation.
2015
Combine Kalahari.com with Takealot.comM&ABackground
Naspers sought to consolidate South Africa's fragmented online-retail market.
Action taken
Kalahari.com was merged with Takealot.com, with Naspers acquiring a substantial stake in the combined company.
Aftermath
The transaction created South Africa's largest online retailer and later resulted in Naspers owning the overwhelming majority of Takealot.com.
2001
Make a strategic investment in TencentStrategyBackground
Naspers was diversifying from publishing and broadcasting toward digital businesses and sought exposure to the emerging Chinese internet market.
Action taken
The company acquired a major minority stake in Tencent from early investors.
Aftermath
Tencent's subsequent expansion made the investment central to Naspers's identity and value as a global technology investor.
Recent events
Naspers appoints Sharmistha Dubey as independent non-executive director[3]
Naspers appointed Sharmistha Dubey as an independent non-executive director, with the appointment effective 1 April 2022.
Reported
Swiggy raises $113 million[4]
Swiggy raised $113 million at a valuation close to $3.3 billion in a funding round led by existing investor Naspers, with Hadley Harbour Master Investments and Meituan also participating.
Reported
Naspers sells Prosus shares[5]
Naspers said it sold around 1.5 billion euros worth of shares in Prosus, its Amsterdam-listed subsidiary.
Sources5 sources
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