MTN Group has confirmed that its operations have been affected by protest action in Nigeria, which have been in retaliation to attacks on foreigners in South Africa.<\/p>\n
The group reiterated its stand against any form of xenophobia and damage to property and remains concerned about the situation in its markets.<\/p>\n
“MTN confirms that over the last day four MTN outlets in Nigeria have been the subject of attacks and we have had to close some stores in Johannesburg. There are no reported injuries,” the group said.<\/p>\n
“While we remain committed to providing uninterrupted services, the safety and security of our customers, staff and partners is our primary concern. MTN\u2019s stores and service centres in Nigeria have therefore been closed as a precaution.”<\/p>\n
MTN said it is working with the relevant authorities and other stakeholders to focus on stabilising the situation both in Nigeria and South Africa and to ensure the safety and well-being of all those impacted by the unfortunate violence.<\/p>\n
“We are also looking at coordinating with key stakeholders to work on medium to long term interventions to this situation. As a company, we remain committed to ensuring a peaceful, harmonious and respectful relationship with all our stakeholders across Africa,” it said.<\/p>\n
Xenophobic attacks<\/strong><\/p>\n Attacks against foreigners in South Africa flared up this week, with attacks breaking out in Johannesburg on Sunday – seeing the destruction of more than 50 shops and business premises mainly owned by Africans from countries in the rest of the continent.<\/p>\n Cars and properties were torched and widespread looting took place. The violence against African nationals may be a reaction to extra competition for jobs and services in the country.<\/p>\n The growing backlash to xenophobic violence meted out on African nationals living in South Africa is being felt on the Johannesburg stock exchange.<\/p>\n MTN fell as much as 2% on the JSE, after the company closed its offices in Nigeria following attacks on its premises in three cities.<\/p>\n Shoprite Holdings Ltd., Africa\u2019s largest food retailer, dropped after its stores were attacked in Lagos.<\/p>\n “It\u2019s exactly the reason why local retailers and stocks like MTN who have African exposure are losing ground today,\u201d said Henre Herselman, a derivatives trader at Johannesburg-based Anchor Private Clients, which oversees 38 billion rand ($2.6 billion) for clients.<\/p>\n “I have seen several announcements from companies stating they have closed shops out of a fear a retaliation.”<\/p>\n