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FINANCIAL NEWS
S Africa’s Naspers acquires stake in Dubai’s Souq.com
30 Oct 2012
(MENAFN) Souq.com announced that Naspers, the South African media firm has purchased a stake in the Dubai-based online retailer, reported Arabian Business.
Souq.com, which has a customer base of nearly 3.5 million people across the Gulf and North Africa, didn’t reveal the value of the stake acquired by Naspers, however, some sources said that it’s around USD40 million.
Investors in Souq.com, which competes with Namshi, include Al Jabbar Internet Group and Tiger Global.
According to Jawad Abassi, founder and general manager at Arab Advisors Group, there were over 77.7 million internet users in the Arab world by the end of last year, a penetration rate of around 22 percent,
It is worth noting that the value of e-commerce related deals in the Middle East is around USD11 billion per year.
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BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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