Nigeria-listed MTN beefs up security after xenophobic violence | IOL Business Report

JOHANNESBURG – Mobile phone company MTN, the second-largest investor on the Nigerian Stock Exchange , on Tuesday beefed up security in South Africa following the sporadic xenophobic attacks that saw the looting of local and foreign-owned shops in Gauteng. MTN said it had increased security as a precaution following the violence in the country.

The attacks come just hours before South Africa hosts the World Economic Forum Africa edition in Cape Town today. MTN distanced itself from the violence and led the condemnation of the attacks of foreign-owned businesses in the country. In May, MTN Nigeria listed on the NSE, making MTN the first mobile network operator to list on the NSE.

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