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South Africa’s Clover Will no longer Invest in Nigeria

by on March 2, 2016
 

South Africa’s Clover Industries will no longer invest in Nigeria due to a financial crisis caused by a sharp fall in oil prices, the dairy products company said on Wednesday.

“The current financial crisis experienced in Nigeria which is fuelled by the low oil price is a further cause of concern, thus the group has decided to withdraw from future investments in Nigeria,” Clover said in a statement.

The company said it would continue to expand operations in Botswana, Namibia, Lesotho and Swaziland.

Reuters

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