Naspers CEO: How the company is handling the US-China trade war

South African multinational company Naspers has reported a strong financial performance for the year ended March 2019, with a significant revenue increase of 29% to $19 billion. The company's e-commerce division saw a notable surge of 10%, while internet revenues rose to $18.7 billion, reflecting the group's diversified and robust operations. In a recent interview with CNBC Africa, Naspers CEO Bob van Dijk discussed the company's strategic investments and outlook amidst the uncertain backdrop of the US-China trade war. Van Dijk emphasized Naspers' commitment to innovation and technological advancement, highlighting the company's historical focus on anticipating and meeting evolving consumer needs. The CEO expressed confidence in the group's e-commerce division and ambitious plans for expansion into the food delivery sector. Addressing the delay in the Amsterdam listing, Van Dijk acknowledged the setback but reassured stakeholders that the company's governance and transparency remain top priorities. The CEO confirmed that the listing would proceed as planned, with the exceptional general meeting slated for August. Regarding recent media scrutiny of Naspers' leadership and internationalization strategy, Van Dijk refuted claims of eroding South African identity in the company. He underscored the importance of attracting new capital through the listing to fuel continued growth and benefit South African investors and pensioners. In response to concerns about the government employees pension fund reducing its stake in Naspers due to exposure to Tencent, Van Dijk emphasized the PIC's long-term support and responsible investment approach. While concentration issues have prompted some shareholders to sell shares, the CEO reiterated confidence in the PIC's commitment. Van Dijk addressed the regulatory challenges facing Tencent's gaming sector in China, highlighting the company's proactive measures to ensure responsible gaming practices. He commended Tencent's leadership for prioritizing user protection and navigating regulatory scrutiny effectively. With the looming specter of the US-China trade war, Van Dijk outlined Naspers' resilience to trade tensions, particularly in its Tencent investments. He stressed Tencent's domestic revenue focus and robust business model, minimizing exposure to international trade disruptions. In assessing the impact of the trade war on Naspers' US operations, Van Dijk underscored the domestic orientation of the company's business structure. The CEO highlighted the strength of Naspers' US investments, such as LetGo, which are insulated from cross-border trade issues. Van Dijk reassured investors that Naspers' core businesses are well-positioned to weather market volatility, emphasizing the long-term perspective in evaluating the company's performance and resilience in uncertain times. As global economic uncertainties persist, Naspers remains focused on leveraging its diversified portfolio and innovative capabilities to navigate challenges and capitalize on emerging opportunities for growth.