Over R30-billion is being left on the table because of consumer experience problems and other issues, which is coincidentally the current market value of e-commerce in South Africa.
Outgoing Takealot Group CEO Kim Reid said the South African Post Office should get the basics right – delivering the mail – before trying to enforce a monopoly over the delivery of parcels weighing less than 1kg.
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.
Takealot Group will replace long-serving CEO Kim Reid on 1 October. The role will be filled by Mamongae Mahlare, who joins South Africa’s largest online retailer from Illovo Sugar.
Naspers-controlled Takealot group reported revenue growth of 55% in the last financial year despite a ban on unfettered e-commerce during the height of the hard lockdown in 2020.
Amazon’s plan to take up almost half of the space at River Club raises questions about whether it will launch its online retail business locally to take on the Takealot.
In a surprise development, Takealot.com has announced that its CEO, Kim Reid, is stepping down from the role. He is not leaving Takelot, though – he will become chairman of South Africa’s largest online retailer later this year.
Naspers and Prosus CEO Bob van Dijk does not expect Amazon.com to enter South Africa’s e-commerce sector “any time soon” given the “really good job” being done by Naspers subsidiary Takealot.com.
Jumia Technologies is looking beyond an immediate target of generating a profit from its pioneering African e-commerce business, laying out longer-term plans to spin off divisions and enter new countries.
Takealot.com, South Africa’s largest online retailer, grew revenue by 41% to $238-million, despite being limited to selling only “essential items” during the hard lockdown earlier this year.