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OLX Group, a Prosus company, has announced that it is looking to invest up to $400 million in Berlin-based online car marketplace Frontier Car Group.
Phuthi Mahanyele-Dabengwa CEO, South Africa of Naspers has reaffirmed the company’s commitment to drive more investment in backing South African technology founders and entrepreneurs.
Naspers, through its Naspers Foundry startup investments division, has invested R30 million in South Africa's SweepSouth, an online platform which connects clients to domestic cleaners. This marks the funds first ever investment in a South African startup since being announced in 2018.
Naspers will invest over $400 million into South African startups and the country's technology sector.
The world around us is changing rapidly and almost every single business model is impacted by the new digital economy. The meteoric rise of the Big Tech firms has established them as the dominant new business models in the post 4th Industrial Revolution (4IR) economy. Apple, Amazon, Alphabet (Google), Microsoft,