The latest Naspers/Prosus financial results show a jump in profitability across the group’s ecommerce portfolio and Tencent growth acceleration. Commenting on News24, Peter Takaendesa, Head: Equities at Mergence Investment Managers, said that with about $10 bn available for investment, Mergence expects the group to continue to leverage AI to drive efficiencies in all their global operations. Regarding Prosus, while it has been pushing profitability in its ecommerce portfolio, it still battles with a hefty discount at which its shares trade, with its stake in Chinese tech giant Tencent overshadowing the rest of the business. However, non-Tencent assets in aggregate are now close to an inflection point as they shift into profitability. This trend together with the continuation of open-ended share buybacks should ultimately drive the narrowing of the discount to NAV.

MTN cuts capex in SA to R6billion
Reporting on its financial results, MTN said that the post-paid, enterprise, wholesale, digital and fintech segments all recorded good growth