MTN's share price getting hammered by Nigerian Naira changes

[Hanno Labuschagne]

MTN's share price getting hammered by Nigerian Naira changes

MTN’s share price is down 28.5% since the start of the year after Nigeria announced changes to how its currency, the Naira, may be exchanged.

While MTN is the second-biggest mobile network in South Africa, its Nigerian operations typically puts its group revenue and profits far ahead of Vodacom, South Africa’s biggest mobile network.

[Bloomberg]

 

[epah]

1 thouzan naira ooo

 

[Corelli]

A lot of SA businesses are selling their Nigerian operations and getting out of the country. Also because of those corrupt officials demanding huge kickbacks.