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Broadband

Naspers switches to US dollar reporting

Wednesday 20 April 2016 | 12:33 CET | News
Naspers has announced that it will in future report all of its earnings in US dollars instead of South African rand. The change will take effect from the financial year ended 31 March. The change reflects in part the fact that the group's shareholder base is now largely comprised of foreign investors, and reporting to these investors in rand is "of limited relevance". Internally, the board also bases its performance evaluation and many investment decisions on US dollar financial information. 

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Categories: Broadcast & Satellite / Internet
Companies: Naspers
Countries: Africa
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