Amazon deeps in profit as South Africa’s e-commerce king retains lead in earnings

“The group continued to broaden its market reach and successfully launched external fulfilment services to support third-party sellers,” Naspers said, underscoring Takealot’s expanding infrastructure.

According to Google Trends data, South African consumers still search for Takealot significantly more than they do for Amazon.

Takealot’s financials reflect that strength: revenue grew by 23 per cent in local currency (excluding M&A), while gross merchandise value (GMV) rose 16 per cent.

Adjusted EBITDA climbed by roughly $10 million to $28 million, which Naspers described as “a step change.”

A key factor in Takealot’s momentum is its subscription offering, TakealotMore. Its members now account for 21 per cent of the group’s GMV, showing that loyalty programmes not only keep customers but also encourage higher spend.

Meanwhile, the group’s grocery wing, Mr D, recorded 12 per cent revenue growth to $65 million and a 14 per cent increase in GMV.

In the same period, its grocery vertical grew strongly, accelerating GMV by 47 per cent. Mr D also posted an EBITDA of $3 million.

Naspers only presents pro forma results, excluding its former business, Superbalist, which was sold in September 2024.

Despite that, Takealot’s strong half-year showing and its ability to fend off Amazon suggest the group is well on its way to solidifying its e-commerce leadership in South Africa.