Johannesburg - South Africa's Naspers has $1.6 billion in cash offshore that it can spend partially on acquisitions and for development of existing businesses, its chief executive said on Monday.

“It depends on opportunities that we get and we like and that would be looking into a future that nobody knows,” chief executive Bob van Dijk told Reuters.

The Internet and media company spent 7.7 billion rand on development in the year ended March, a 79 percent jump from the previous year. - Reuters