Prosus, the global consumer internet group majority-owned by South Africa’s Naspers, has reported a remarkable 47% surge in core earnings for the 2025 financial year, reaching $7.4 billion. This performance not only exceeded market expectations but also signaled a strategic pivot from being a passive investment vehicle to an active operator in the global tech ecosystem.
Traditionally known for its early and lucrative stake in Tencent, Prosus is now reshaping its identity. Under the leadership of CEO Fabricio Bloisi, the company is transitioning into a lifestyle technology powerhouse, with a strong focus on food delivery, fintech, and e-commerce. This shift is already bearing fruit, as evidenced by a 21% increase in e-commerce revenue to $6.2 billion.
The company’s transformation is being driven by innovation and artificial intelligence, with investments in AI-native startups and regional tech ecosystems across Latin America, Europe, and India. Prosus has also made strategic acquisitions, including a €4.1 billion deal to acquire Just Eat Takeaway, aimed at creating a European tech champion in food delivery.
For the first time in its history, Prosus reported positive free cash flow—excluding dividends from Tencent – of $36 million, a significant turnaround from a negative $235 million the previous year. Adjusted EBIT for the e-commerce segment jumped twelvefold to $443 million, with standout performances from platforms like iFood and OLX.
The company also doubled its dividend to €0.20, reflecting growing confidence in its financial stability and long-term strategy. CFO Nico Marais emphasized that this momentum is expected to continue, with similar gains projected for 2026.
As a subsidiary of Naspers, Prosus’s success has direct implications for South African investors and the broader tech landscape. Naspers itself reported a 59.4% increase in core headline earnings, buoyed by Prosus’s performance. This reinforces the importance of nurturing local tech talent and infrastructure to support global ambitions.
Moreover, Prosus’s evolution into an operating tech company could serve as a blueprint for other South African firms looking to scale globally. Its focus on AI, digital payments, and platform-based services aligns with the continent’s growing appetite for digital transformation.
While Prosus has put plans to list its PayU India payments business on hold, the company remains committed to organic growth and profitability. With a disciplined capital allocation strategy and a sharpened focus on operational excellence, Prosus is positioning itself as a formidable player in the global tech arena.
For South African tech enthusiasts and investors, Prosus’s journey is more than a financial success story – it’s a testament to the power of strategic reinvention in a rapidly evolving digital world.
