Tencent. Yes, I know you are getting tired of the same news day after day, about Tencent and the associated impact on the Naspers share price. This one however is about WeChat, the messaging app that is big in China. It is messaging in China. Whilst WhatsApp a couple of days back might have clocked 700 million users, as a result of the nature of the Chinese internet landscape (censored media), I suspect that WeChat will struggle to get many more users from here. The application is international, we are encouraged to use it here on the DSTV platforms, makes sense for them to punt that.
Of the 438 million active users of WeChat last year (according to the BusinessInsider email that I received) 22 percent used the app to browse the store and 19 percent made mobile payments. I think that for folks buying Chinese companies, the penny is starting to drop that TenCent (and their extended subsidiaries) are real money making machines. The Tencent share price is closing in on the 52 week high, year to date the share price is up a whopping 10.4 percent. It should come as no surprise then to hear that Naspers is up 11.36 percent year to date, that year comprises of only 5 (6 today) trading days. Yowsers.