South Africa-based hospitality company exits Nigeria

folarin okunola

August 23, 2016 5:36 PM

Sun International is yet another South African-based company to clash with authorities In Nigeria after telecoms group MTN.

Sun International

Sun International, the South African hotel and gaming group, is the latest South African business to pull out of Nigeria.

The company gave weak economic growth and clashes with regulators as its key reasons for the decision to exit the market.

Sun International is yet another South African-based company to clash with authorities in Nigeria after telecoms group MTN was fined for not disconnecting users with unregistered SIMs.

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Sun Internationals exit follows that of food and clothing retailer, Woolworths and Truworths, as well as Tiger Brands, who sold its loss-making Nigerian business to Dangote Industries.

Citing poor first half-year results, the company said tough economic conditions and general negative sentiment in its home market of South Africa led to a very poor revenue growth of 0.8 percent for its casinos.

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