The new head of South Africa’s Naspers group will overhaul corporate culture and pay to meet an ambitious four-year target to double the market value of its investment arm Prosus, the biggest shareholder in Chinese internet giant Tencent.
Fabricio Bloisi, who runs both Naspers and Prosus, told the Financial Times: “I’m here to do the next Tencent”.
Naspers turned a 2001 investment of $32mn in what was then a start-up into a stake that is today worth $115bn. Prosus owns just under 26 per cent of China’s biggest gaming company. But the market value of Amsterdam-listed Prosus is around $105bn, in effect ascribing no value to its host of other global assets, from food delivery to payments businesses.