Shoprite | Radio 94.7 FM

The xenophobic attacks in Gauteng on foreigners, and the looting of their businesses have now taken on an international turn.

Nigeria is considering nationalizing businesses such as Shoprite and MTN.

In its latest report, Bloomberg pointed out the rough times that might await South Africa if the most popular businesses, such as MTN, might be nationalized.

The Nigerian “All Progressive Congress Party” chairman said in a video recording also broadcast on the radio and TV channels that it would be advantageous for Nigeria to nationalize thriving South African businesses because of their insensitive actions against Nigerian businessmen .

The focus is clearly on MTN, which has a profitable industry in Nigeria, and that may even include Shoprite’s stores.

MTN has invested millions of Rand in the West African state, and is now becoming the first possibility of nationalization.

It appears that there is a new disease in South Africa, namely retirement or resignation. High-ranking officials are now “unexpectedly” stepping down and parliamentarians are also joining the queue.

The list grows by the day with the latest announcement from Sandile Shabalala from TymeBank , only three years after his employment.

He followed SAA’s boss Vuyani Jarana’s actions who made huge bravado bets on SAA’s revival.

SA Business Leadership’s Bonang Mohale has just announced that he will not renew his contract.

Christo Wiese is also attempting to sell R3.3bn of his Shoprite shares. Absa’s Maria Ramos resigned as head of the bank while Comair, Old Mutual and Massmart’s Chief Executive Officers have given notice that they are also retiring.

Financial experts believe the reason for the exodus is a lack of trust between boards, management and chief officials.

Poor communication b
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