Commenting on current buoyant market conditions, Peter Takaendesa, Head: Equities at Mergence Investment Managers, said that the GNU has renewed optimism that structural economic reforms will gain momentum. The local stock market is enjoying a strong recovery in 2024 after years of underperforming other key global equity markets, especially the American and Indian markets. Furthermore, the global economy has also defied bearish growth forecasts and avoided a recession so far, despite very aggressive interest rate hikes over the past few years.
Despite some market ‘overexcitement’ about AI, Naspers is bullish about making more bets
The latest Naspers/Prosus financial results show a jump in profitability across the group’s ecommerce portfolio and Tencent growth acceleration. Commenting