South Africa’s MTN Group says the future of Africa’s economy depends on greater integration, with its chief executive warning that xenophobia could undermine the continent’s growth ambitions.
CEO Ralph Mupita says 82 percent of MTN’s revenue comes from outside South Africa, highlighting the company’s reliance on markets across Africa.
Speaking at the Kgalema Motlanthe Foundation Winter Seminar on migration and economic development, Mupita argued that Africa must focus on expanding opportunities through investment, skills and stronger regional cooperation.
His comments come amid renewed concerns over attacks targeting foreign nationals and immigrant-owned businesses in South Africa.
Business leaders warn that anti-migrant sentiment could damage efforts to build a more connected African market under the African Continental Free Trade Area.
Also read: ISWAP finance operator, sons, surrender in Borno State
Leave feedback about this
You must be logged in to post a comment.