MTN's Nigerian pain

Bradley Prior

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MTN's Nigerian pain
MTN had a torrid start to the year, as its share price plummeted by 28% due to the collapse of the Nigerian Naira. [Daily Investor]
 
Nigeria has crude oil and other commodities it exports, it should be a rich country with very stable economy. But as we know, This is Africa. Grand Theft Government and public has left the country's economy like a yoyo. MTN is suffering the effects of that... Guess we can blame Britain for planting secret fairies into society to derail it when they took independence...
 
Investing in the rest of AFRICA always seems to have the same outcome.

EVERY TIME.
 
Anybody who invests in a country where there is an official exchange rate and a black market exchange rate is asking for trouble.
 
Scary thing is that unlike in better run countries where better times normally follow a downturn, in Africa it only gets worse. More pain to follow.
 
Anybody who invests in a country where there is an official exchange rate and a black market exchange rate is asking for trouble.
Anyone who invests in Nigeria needs to go see a psychiatrist. Not good will come of your investment over there.

Stupid MTN, chasing money and not seing the dangers ahead.
 
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