Is Naspers Planning to Close Mocality in Kenya and Nigeria?

A well placed source within Naspers board has indicated that there are internal discussions to close Mocality. The source claims that Naspers top echelon is worried that since launch, Mocality is neither making money nor have a real business model. The daily deals arm of the business directory service, Mocality Deals is also yet to start making money.

Naspers is also planning to stop marketing other e-commerce products under MIH Internet. Many of the regional MIH staff will also go jobless in the next month or two.

Among those facing the sack are Neil Schwartzmann who has been the CEO of MIH Internet. He might be aware or might not be aware of this already. With Neil not managing Kalahari while OLX management report to Argentina, it is not clear what role he is playing at MIH Internet.

Speaking to sources at MIH Internet in Kenya and Nigeria, the information of the impending closure have not been communicated to the country offices nor to the regional heads.

I am still trying to get more information about the impending closure of Mocality Kenya and Nigera.