(Ecofin Agency) - South African group Naspers has achieved a record market capitalization of R1 trillion, or $US63.7 billion. A first for the group. On May 31, 2016 at 10:05 AM the group’s share was at R2,314.98 on the Johannesburg stock exchange where Naspers is listed.

Naspers keeps enjoying its 34% stake in Tencent, China’s biggest Internet firm. A week ago, Tencent said it revenues for Q1 2016 grew by 43%. It also said it will acquire a 5% stake in Paradox Interactive, one of the biggest online game makers. Tencent is also currently in talks with Softbank to acquire a majority stake in the Finnish studio Supercell, well-known for developing some of the world’s most popular online games, including “Hay Day” and “Clash of Clans”.

Tencent’s good performances and projected investments seem to offer solid guarantees. This had an immediate impact, a positive one, on Naspers’ stock as yesterday’s peak proves.

Of course, not only Tencent allowed Naspers to become a global leader in of communication, Internet and e-commerce. Indeed, the South African group keeps ripping fruits from its old investments in South Africa’s media and printing industries. Over the past years, the firm has invested a lot in e-commerce and classified ads. Now it is exploring video on demand.

While Naspers has investments and assets in 130 countries, 70% of its turnover is generated outside South Africa. The group has in fact decided to switch its financial reports from rand the US dollar. Naspers is Africa’s leading firm by market value.

Assongmo Necdem