Tag Archives: Africas

Google logos. Photo credit: LOIC VENANCE/AFP AFP via Getty Images South Africa’s Fourth Estate “is on its knees” as Google and Meta’s dominance has captured 97% of all digital advertising in the country, creating an “extinction crisis” for the media. This is the view of Ishmet Davidson, the chief executive officer of News24, South Africa’s largest digital news publisher, which is owned by internet firm Naspers. He was testifying at the country’s Competition Commission inquiry… Source link

Today, Google announced its new cloud region in South Africa, the African nation which is now home to the major global cloud providers on the continent. For Google, this move is part of its broader commitment to invest $1 billion to support “digital transformation” across Africa over the next five years. The commitment, when dissected, includes projections of Google landing a subsea cable, providing low-interest loans to small businesses and equity investments to African growth… Source link

JOHANNESBURG (Reuters) – South African media and e-commerce group Naspers Ltd reported a 24% rise in profit for the year that ended March 31, boosted primarily by the performance of its investment in China’s Tencent Holdings, the company said on Monday. Africa’s biggest company by market capitalisation reported core headline earnings per share – the main gauge of corporate profit in South Africa – of 814 U.S. cents, up from 656 cents reported for the same period a year earlier. Its 28.9% stake… Source link