Africa’s Largest Publicly Traded Company Now Squarely in the U.S.-China Crossfire

The stock price of Africa’s largest and most valuable publicly traded company has been on a roller coaster ride since U.S. President Donald Trump announced plans to ban Tencent-owned WeChat from U.S. app stores.

Naspers, through one of its subsidiaries, is Tencent’s largest shareholder. It owns a whopping 31% of the Chinese tech giant. Investors are understandably spooked that the White House will extend sanctions against Tencent to other properties, including its highly lucrative gaming business that has a lot of exposure in the United States.

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by Eric Olander

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