South Africa’s e-commerce leader Takealot Group has entered FY2026 with rare momentum. In its half-year results for the six months to September 30, 2025, the business delivered a 23% surge in local-currency revenue (excluding M&A) and a $10 million jump in adjusted EBITDA, reaching $28 million (≈R485 million).
Parent company Naspers didn’t play with words: this is a “step change” in the group’s march toward profitability.
With e-commerce penetration still below 10% but projected to reach 15% by 2028, investors are asking a higher-stakes question: Is Takealot finally on track to post full-year profitability by March 31, 2026?
The Contenders: Takealot’s Ecosystem and Naspers’ Capital Machine
Takealot is South Africa’s e-commerce incumbent, a three-pillar ecosystem spanning:
- Takealot.com (general merchandise)
- Superbalist (fashion)
- Mr D (delivery and food)
Its 16,000-driver fleet, nationwide logistics backbone, and deep merchant network mirror Amazon’s strategy except they are built for local conditions.
For Naspers, Takealot is a strategic domestic bet. Under South Africa CEO Phuthi Mahanyele-Dabengwa, the group has doubled down on scale, efficiency, and loyalty.
The objective: transform a historically loss-making marketplace into a profitable engine before global rivals tighten their grip.
Inside H1 FY2026: Growth with Margin Discipline
Naspers’ November 24, 2025, interim update laid out a clear narrative: Takealot absorbed Amazon’s 2024 entry, defended share, and expanded both revenue and earnings.
H1 FY2026 Performance Highlight
| Metric | H1 FY2026 | H1 FY2025 | YoY Growth (LC) |
|---|---|---|---|
| Group GMV | $877M | $746M | +16% |
| Group Revenue | ~$450M (est.) | ~$366M (est.) | +23% |
| Adjusted EBITDA | $28M | $18M | +56% |
| Takealot.com Revenue | $385M | $292M | +32% (+26% LC) |
| Takealot.com GMV | ~$700M (est.) | ~$598M (est.) | +17% |
| Mr D Revenue | $65M | $58M | +12% (+10% LC) |
| Mr D GMV | ~$200M (est.) | ~$175M (est.) | +14% |
LC = Local currency, excluding M&A.
Two engines stand out:
- TakealotMore (its Prime-style loyalty programme) is now contributing 21% of total GMV.
- Takealot Fulfilment Services (TFS), launched in 2025, lifts margins by handling logistics for third-party sellers, now 19% of total sales.
Naspers credited these levers for expanding scale without expanding cost burdens:
“Takealot maintained its critical role in South Africa’s e-commerce landscape, outperforming global rivals while progressing toward full profitability.”
Mahanyele-Dabengwa added:
“Takealot’s execution, including TFS and TakealotMore, drove 16% GMV and 13% revenue growth, gaining share in a competitive landscape.”
The Profitability Equation: Can H2 Seal the Deal?
Full profitability requires the group to swing from an adjusted EBIT loss of $4 million in H1 to a positive net result by year-end.
Compare that to FY2025, when Takealot posted a $13 million adjusted EBIT loss; the gap narrowed sharply.
H1’s EBITDA climbed 87% in dollar terms, signalling that Takealot’s cost structure is finally bending in the right direction.
Here’s why executives believe FY2026 could be the turning point:
- Logistics efficiency:
New fulfilment infrastructure, including the Durban DC, is compressing per-unit costs. - Revenue diversification:
Mr D delivered a $3 million EBITDA contribution, proving the broader ecosystem is pulling its weight. - Seasonal H2 uplift:
If H2 matches even a conservative H1 run rate historically, it’s stronger due to Q4 retail peaks. For the full year, EBITDA could exceed $60 million, clearing the profitability bar after finance and tax adjustments.
Fabricio Bloisi, Naspers’ global CEO, summed up the moment:
“This is a step-change in operating profitability.”
READ ALSO:Will Naspers’ €4.1B Gamble Make Prosus Europe’s Delivery King?
The Competitive Battlefield: Amazon, Temu, and the SA Consumer
Amazon’s May 2024 launch raised the stakes, but not the outcome yet. Takealot has held ground:
- It still dominates search popularity (per Google Trends).
- Surveys show 45% of SA online shoppers select it as their preferred platform.
- Market share remains 15–20%, up from low-2023 dips.
Meanwhile, South Africa’s e-commerce engine is expanding:
- 2024 market size: ~$8.5B
- 2028 projection: ~$25B
- Penetration: More than 10% today → 15% by 2028
Takealot is widening its footprint into township markets, using personal shoppers and micro-fulfilment nodes in sectors Amazon hasn’t cracked.
Still, challenges exist:
- SA macro volatility and high interest rates.
- Temu’s ultra-cheap imports.
- Amazon’s grocery and same-day plans.
- Annual logistics capex north of $100 million.
But the biggest variable is execution.
If GMV growth moderates to 10–12% in H2, margin expansion could slow. But if TFS uptake accelerates and TakealotMore locks in loyalty, the EBITDA curve holds.
The Bottom Line: The Trajectory Favours a Yes
Takealot enters the final stretch of FY2026 with:
- 23% revenue growth
- 56% EBITDA growth
- A maturing logistics network
- A defensible leadership position
- And a high-engagement loyalty programme
That combination supports a clear conclusion: barring external shocks, Takealot is positioned to cross into full-year profitability by March 2026.
The broader story is bigger than one balance sheet.
It’s about whether South Africa can produce a homegrown e-commerce giant capable of meeting global competition on equal footing.
Right now, the numbers say it can.
Takealot Overview: Key Searches in One Brief Summary
The Takealot app gives shoppers access to South Africa’s largest online marketplace, with easy browsing, tracking, and order management. Users can get the Takealot app download for Android or iOS to start shopping instantly.
As Takealot, South Africa’s leading e-commerce platform, it offers a wide product range accessible through the Takealot catalogue, featuring electronics, home goods, fashion, and daily essentials.
For assistance, shoppers can use the Takealot contact number or access support through the app. Account features such as Takealot app login, Takealot sign-up, and Takealot my account orders allow customers to manage profiles, track deliveries, and view past purchases efficiently.
Ronnie Paul is a seasoned writer and analyst with a prolific portfolio of over 1,000 published articles, specialising in fintech, cryptocurrency, climate change, and digital finance at Africa Digest News.
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