December’s Forum on China Africa Cooperation (FOCAC) has been and gone, and the eagerly-awaited list of numbers has been released, digested, and analysed. China’s commitment of US$60 billion in financing for development across Africa is triple the amount pledged at the last summit three years ago, according to several mainstream media reports. Other calculations put this figure at closer to a 50% increase in financial commitment. And, while it is this magic number that has since hogged the limelight, China’s important second policy toward Africa was released too.
But, beyond talking about the Chinese e-commerce giant’s IPO (which claimed the title of largest global IPO ever) and how successful the start-up from southern China has been, we hear far less said about why. Continue reading
Flipkart and Tencent became household names several years ago in two of the world’s fastest growing economies, India and China. But more recently, their staggering growth rates and innovation in the mobile sphere have forced the rest of the world to sit up and pay attention. Some say that their strength in the market is a direct offshoot of their robust parentage – which, similarly, has only become widespread knowledge since the two firms’ growth began gaining a global audience. The South Africa-based media and tech juggernaut, Naspers, is a major shareholder in Flipkart – India’s Amazon – and Tencent, which owns China’s gamified Whatsapp-Facebook hybrid, WeChat. Naspers, which is one of the largest companies listed on the Johannesburg Stock Exchange, recently began garnering plenty of attention of its own when the value of its stocks reached a record high earlier this month, taking its market capitalisation to R709.7 billion ($60.4 billion). Continue reading
The Cape Town headquartered multinational media company, Naspers, has spent the last decade and a half establishing operations in fast-growing regions such as China, Latin America, Central and Eastern Europe, Russia, India, Southeast Asia, the Middle East and Africa. But it was perhaps only last month (when the value of the group’s shares reached a record high following the announcement of Tencent Holdings’ financial results) that the extent of its success in emerging markets – and China in particular – hit home.
When Naspers acquired a 46.5 percent interest in the mostly loss-making, Chinese-owned Tencent Holdings in 2001, it seemed like a gamble, to say the least. Fast-forward to the present, and Tencent is reporting fourth quarter profits of $973 million. Continue reading
Naspers, the multinational media giant with operations in internet services, pay-TV and print media, has been making headlines since the value of its shares shot up earlier this month. Headquartered in Cape Town and listed on the Johannesburg Stock Exchange (JSE), it has grown to become one of South Africa’s largest companies, with a market capitalization of R709.7 billion ($60.4 billion). Founded in 1915, the group is best known locally as one of the country’s oldest media companies, and for running Africa’s biggest pay-TV business, Multichoice. But it is Naspers’ interests in China’s biggest internet firm, Tencent Holdings, which transformed the company into a must-have in fund managers’ portfolios. Continue reading
VoiceMap, a recently-launched mobile application for iPhones and Android devices, is using cutting-edge GPS technology and the age-old art of storytelling to change the way people experience cities. “VoiceMap is a publishing platform for location-aware audio tours – or, with less jargon and more poetry, a way of seeing the world through another person’s eyes,” explains CEO and co-founder, Iain Manley.
After downloading the app and selecting a route, VoiceMap users can put their phone in their pocket and follow a storyteller’s voice through a particular neighbourhood, while anecdotes, commentary and opinions play automatically at specific GPS locations.
Groot Constantia Wine Estate is shrouded in mist as I drive towards its tasting room, the lush grounds glistening in the drizzle. A man in a red rain jacket strides toward the whitewashed building. “He jiu! He jiu!” – Let’s drink! – he calls behind him, enunciating the Mandarin tones. He is followed closely by fifteen bright-eyed Chinese tourists in an assortment of rainbow-coloured jackets. Heads swivelling left and right, taking in their surroundings, they head through a green Cape Dutch door. Continue reading