Prosus suffers from the same problem as Manchester City Football Club: Because everyone knows it has access to vast amounts of capital, it’s always at risk of overpaying for acquisitions.

Investors in Naspers said on Thursday they want proceeds from a $14.7-billion stake sale in its Tencent Holdings investment to go towards blockbuster acquisitions or a share buyback.

South Africa’s communications regulator, Icasa, has signed a memorandum of understanding with the US Federal Communications Commission that will see the two regulators collaborate and share ideas.

Crypto exchange iCE3 said it had been “advised to initiate liquidation proceedings” after suspending all trading on the exchange in March following the discovery of account discrepancies.

Production of some of Apple’s MacBooks and iPads has been postponed due to a global component shortage, the Nikkei reported on Thursday.

Shares of Tencent Holdings dropped in Hong Kong after Naspers unit Prosus priced its placement of the Chinese Internet giant’s stock at the top end of a marketed range, raising $14.7-billion.

Absa Group said on Thursday that it is launching a skills incubator in partnership with Amazon Web Services to train employees in cloud computing skills.

An oil blending and storage company secured deals to supply Eskom with fuel oil worth more than R15-billion at inflated prices by paying inducements, including donations to the ANC, an investigation has found.

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