Eskom has warned that there is a “very real risk” of stage-6 load shedding during the evening peak on Tuesday as an illegal strike at Eskom intensifies and turns violent.
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A plan by Tencent’s major backer, Naspers-controlled Prosus, to further cut its stake in the company fuelled concerns among investors on Tuesday.
Takealot Group has built a powerful platform that will stand it in good stead in an increasingly competitive market, said Naspers CEO Bob van Dijk.
When there is a deep valuation discount and pressure from its investors, Naspers can’t really time market tops and must appease with cash handouts instead.
Eskom said most of its workforce is in place following unlawful industrial action, though generation capacity has yet to improve.
The arm of South African Internet giant Naspers sold almost $4-billion worth of stock in JD.com that it got as dividends from investee Tencent.
Unlawful industrial action at Eskom’s power stations means South Africans will have to continue to endure stage-4 load shedding until at least Wednesday night.
Takealot Group, which includes South Africa’s biggest e-retailer, Takealot.com, increased revenue by 27% in the past year, and remained near breakeven during the period.
Prosus and Naspers plan to sell down the massive 28.9% stake Prosus holds in Chinese Internet giant Tencent.
Communications minister Khumbudzo Ntshavheni has blamed the recent floods in KwaZulu-Natal and parts of the Eastern Cape for a delay in the roll-out of digital set-top boxes.