Prosus Commits INR 100 Crore to India's COVID-19 Response
- Prosus's Indian partners also contributing to relief efforts through innovative initiatives
NEW DELHI, April 10, 2020 /PRNewswire/ -- Prosus, the global consumer internet group of Naspers, has committed INR 100 crore to the Indian government's response to the COVID-19 crisis.
The donation will be made to the 'Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund' (PM CARES Fund) created by Prime Minister Narendra Modi. Donations received by the PM CARES Fund are used to alleviate directly the suffering of those affected by the COVID-19 crisis and to aid the emergency response (as well as promoting new technology and advancing research findings for resilience against similar situations in the future).
Prosus has been an investor in India since 2005 and is committed to contributing to India's growth and digital evolution through investing in local Indian entrepreneurs and companies. To date, Prosus has invested more than US$5bn in Indian technology businesses including classifieds, payments and fintech, ecommerce, education, and food delivery. The group continues to partner with exceptional and transformative entrepreneurs who are using technology to provide economic opportunities and to improve the everyday lives of millions of people in India.
In addition to its direct contribution to the PM CARES Fund, Prosus is working closely with the companies it partners with, to support measures designed to help Indians affected by the situation. A variety of innovative initiatives have been created by these companies to benefit their customers and communities.
- Swiggy has launched a campaign to donate meals to persons in need in India. The public can also donate to this campaign. The campaign is currently donating approximately 35,000 meals per day, with a goal of raising this to 500,000 meals per day as soon as possible.
- In addition to itself contributing directly to the PM CARES Fund, PayU has built a platform to enable any brand in India to start raising funds from its customers for the PM CARES Fund. PayU is also extending its support to NGOs and charities collecting relief donations for COVID-19, by charging zero transaction fees and processing donations at no cost. In addition, as part of the initiative to bring India online, PayU is helping small to medium businesses (SMBs) build free websites and get their business online: PayU's 'Startups Helping Startups' platform is enabling emerging businesses to receive help from each other. PayU has also launched several other initiatives to help merchants, SMBs and entrepreneurs manage their business during the COVID-19 crisis.
- OLX is allowing advertisements to stay on its site for an additional 30 days, at no extra cost, to help its customers during the lockdown period. Ads that have recently expired or are about to expire have also been extended. In addition, OLX will contribute to an NGO fund to help migrant and blue collar workers displaced by the crisis.
- BYJU'S has offered its learning platform for free in India until the end of April, helping parents support their children's learning while away from school.
Bob van Dijk, Group CEO, Prosus and Naspers, said, "These are unprecedented times and we want to play our part in contributing to the efforts underway in India. By working with government and civil society, we hope to help India overcome this very difficult period. We are also immensely proud of the innovative efforts of our partner companies to help their country, customers and colleagues."
Sehraj Singh, Director of Public Policy India, Prosus, said, "We have a deep relationship with India and are committed to supporting PM Modi, the Indian government and her citizens overcome this extraordinary crisis. Our contribution to the PM CARES Fund and the impactful work by our partners is a testament to our commitment."
Anirban Mukherjee, CEO, PayU India, said, "We are fully committed and aligned with our government in their efforts to get through these challenging times. We are happy to extend our support in all possible ways and help our nation overcome this pandemic."
Prosus is a global consumer internet group and one of the largest technology investors in the world. Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities.
The group is focused on building meaningful businesses in the online classifieds, payments and fintech, and food delivery sectors in markets including India, Russia and Brazil. Through its ventures team investments, in areas including edtech and health, Prosus actively seeks new opportunities to partner with exceptional entrepreneurs who are using technology to address big societal needs.
Every day, millions of people use the products and services of companies that Prosus has invested in, acquired or built, including Avito, Brainly, BYJU'S, Codecademy, eMAG, Honor, iFood, LazyPay, letgo, Meesho, Movile, OLX, PayU, Red Dot Payments, Remitly, SimilarWeb, SoloLearn, Swiggy, and Udemy.
Hundreds of millions of people have made the platforms of its associates a part of their daily lives. For listed companies where we have an interest, please see: Tencent (www.tencent.com) (SEHK: 00700), Mail.ru (www.corp.mail.ru) (LSE: MAIL), Ctrip.com International Limited ("Ctrip") (NASDAQ: CTRP), and DeliveryHero (www.deliveryhero.com) (Xetra:DHER).
Today, Prosus companies and associates help improve the lives of around a fifth of the world's population.
Prosus has a primary listing on Euronext Amsterdam (AEX: PRX) and a secondary listing on the Johannesburg Stock Exchange (XJSE: PRX), and is majority owned by Naspers.
For more information, please visit www.prosus.com