Friday, February 14, 2020

Tag "Truworths"

    Another SA company exits Nigeria over ‘hostile environment’

Another SA company exits Nigeria over ‘hostile environment’

Sun International, with 49 percent stake in Federal Palace Hotel, says it is leaving Nigeria, owing to "challenging economic conditions and regulatory dispute". The hospitality and gaming company, which becomes the fourth major South African company to exit Nigeria in 2016, said the controversial detention of five of its staff by the Economic and Financial Crimes Commission (EFCC) spurred its decision to [...]

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    Another S’African company pulls out of Nigeria

Another S’African company pulls out of Nigeria

Clover, a South African beverage line responsible for the production of Tropika fruit juice, says it is withdrawing future investments in the Nigerian market. Clover becomes the second South African country in two weeks to toe this line. In its fiscal year end profit/loss posting, the company said the financial crisis in Nigeria is to blame for its withdrawal from the Nigerian [...]

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    SA company exits Nigeria over ‘economic crisis’

SA company exits Nigeria over ‘economic crisis’

Truworths, a South African retail company, has pulled out of Nigeria due to prevailing economic realities in the country. According to Reuters, Michael Mark, the company’s chief executive officer’s comments about the economy show a sign that President Muhammadu Buhari's attempts to boost local industry are hurting foreign investment. “We were unable to operate the stores properly any longer because we were [...]

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Exchange Rates

February 04, 2019USDGBPEUR
INTERBANK306397354
LAGOS355444389
KANO354445370
PH355447412
ABUJA356454413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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