At a Glance
- Africa’s most valuable company rebounded to a $44.3 billion market cap, driven by Tencent’s AI-driven surge and renewed investor confidence.
- Tencent shares have jumped over 20% this year, boosting Naspers, which holds a 24.6% indirect stake through Prosus.
- Naspers’ Prosus unit has sealed a $4.3 billion Just Eat Takeaway.com deal, strengthening its position in Europe’s food delivery market.
Naspers, Africa’s most valuable company, has made a comeback, recovering from an earlier slump to reach a $44.3 billion market capitalization on the Johannesburg Stock Exchange (JSE). The global consumer internet giant has added R87.55 billion ($4.76 billion) in value since the start of the year, driven by renewed investor confidence and key global developments.
Naspers rebounds, gains $4.8 billion in value
Market data tracked by Shore.Africa shows Naspers’ market capitalization has climbed from R727.5 billion ($39.5 billion) on Jan. 1 to R815.1 billion ($44.3 billion) at the time of reporting. This recovery comes after a sharp decline earlier in the year when, between Jan. 6 and Jan. 25, the company lost $3.8 billion in value.
That drop followed the U.S. government’s decision to blacklist Tencent Holdings—China’s gaming powerhouse, in which Naspers holds an indirect 24.6 percent stake through its Amsterdam-based unit, Prosus. The move sent Naspers’ market cap tumbling from R725.2 billion ($39.4 billion) to R655.4 billion ($35.6 billion).
Since then, a sustained rally in Naspers’ stock has erased those losses. The company’s shares have climbed 12 percent year-to-date, rising from R4,173.22 ($226.7) per share on Jan. 1 to R4,675.46 ($254.1). A similar trend has played out in Prosus, its Amsterdam-listed subsidiary, which has gained 11 percent so far this year.
Tencent gains on AI, President Xi Jinping’s support
Much of this turnaround can be traced back to Tencent’s performance. The Chinese tech giant’s shares, traded on the Hong Kong Stock Exchange, have surged more than 20 percent in 2025, largely thanks to the integration of DeepSeek’s artificial intelligence (AI) model into WeChat, its flagship messaging platform.
The AI-driven upgrade has fueled investor optimism, as major Chinese tech firms continue embracing AI innovations. Tencent’s stock has soared 74 percent over the past year, boosted by strong game releases and growing regulatory support for China’s tech sector.
Chinese tech stocks got an additional boost after a high-profile meeting between President Xi Jinping and industry leaders, including Jack Ma, executives from Tencent, Xiaomi, Huawei, DeepSeek, BYD, and CAT. The discussions signaled Beijing’s commitment to supporting its technology giants, further strengthening market confidence.
Naspers’ digital investments keep growing
Beyond its Tencent stake, Naspers has been expanding its global reach through Prosus. The company recently sealed a $4.3 billion all-cash deal to acquire Just Eat Takeaway.com, cementing its position in the food delivery market, where it already holds a major stake in Brazil’s iFood. The deal is part of Prosus’ broader $20 billion investment strategy, which focuses on high-growth sectors such as fintech, social media, edtech, and food services.
For Naspers, the rebound in market cap highlights its ability to navigate shifting market conditions. Despite regulatory challenges and geopolitical tensions, its diverse investment portfolio—anchored by its growing digital commerce presence—continues to drive long-term value. As Africa’s largest publicly traded company, Naspers remains a key player in the global tech space, reinforcing its role as a gateway for international investment in emerging markets.
