Kim Reid has spent the past 10 years building Takealot Group – today controlled by Naspers – into South Africa’s largest e-commerce company. He sat down with TechCentral to reflect on his time at the helm.
Reid, who will step down at the end of September to take on the role of board chairman – he will be replaced in the hot seat by outgoing Illovo Sugar MD Mamongae Mahlare on 1 October – reflects in the interview on some of the pivotal decisions that contributed to Takealot’s success. He also talks about what his new role will entail: It’ll be much less operational and more strategic in nature.
He explains why he’s decided to step down as CEO now – even though Takealot is still very much a growth business – and why he believes a changing of the guard is important. He also talks about how big the e-commerce opportunity is in South Africa, even after 10 years of solid growth.
The discussion also touches on the Competition Commission’s probe into the sector – Reid believes the regulator should leave the industry alone instead of interfering – and why the Post Office’s attempts to gain a monopoly over the delivery of packages weighing less than 1kg makes no sense.
Lastly, Reid touches on what the future holds for Takealot, including expansion elsewhere in Africa and why that’s not in the company’s immediate plans.
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