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If you are one of the 188 Vestact clients who own Naspers, I am sure you're very pleased about its recent share price rally. The stock is up 30% so far this year and has nearly quadrupled since the lows of 2022. The key driver, of course, has been the rise in the value of its investment in Tencent, but the new CEO, Fabricio Bloisi, has also been very impressive.
Hailing from Brazil, Bloisi founded Movile (they own iFood) when he was 21 and ran the mobile tech firm until 2020. Prosus started investing in Movile in 2013 and in 2022 purchased the whole of iFood. Naturally Bloisi came across with iFood and ran the division until he was hired as CEO of the Naspers/Prosus group last year.
A few weeks back he wrote a letter to shareholders which covers his first year in charge. He has achieved a lot already. Fabricio is young, entrepreneurial and comes with fresh ideas, we look forward to more successful years with him at the helm.
