Naspers is making major moves to corner the South African retail market.

Yesterday the multinational media group poured $40 million into Nigerian e-commerce platform Konga, with help from Stockholm-based Investment AB Kinnevik, in the second largest venture investment recorded by an African startup.

The largest round on record is the $100 million raised by online shopping destination from Tiger Global Management in May of this year.

But today, Takealot is joining forces with with Kalahari, the Naspers-owned South African e-commerce giant, in a play to form the next Amazon or Alibaba.

Kalahari and Takealot were recently ranked first and second as South Africa’s favorite e-commerce marketplaces. Now combined, the two will see competition from Zando, a fashion e-commerce retailer that was backed by Boston-based Summit Partners back in 2012.

The $26 million round for Zando still ranks in as the third largest venture round seen by an African startup to date.

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Photo via Flickr user Daniel Broche.

  • Originally published October 9, 2014, updated April 26, 2023