CPPE Opposes Retaliation Against South African Firms

The Centre for the Promotion of Private Enterprise (CPPE), led by Chief Executive Officer Dr. Muda Yusuf, has condemned recent xenophobic attacks in South Africa, which reportedly included Nigerian victims.

In response to calls from Nigerian lawmakers, including Senator Adam Oshiomhole, to revoke the operating licenses of South African companies like MTN and DSTV, CPPE cautions against extreme retaliatory measures. They argue that such actions would be inappropriate and counterproductive, potentially damaging long-standing bilateral relations and undermining investor confidence.

CPPE emphasizes that the violence in South Africa is driven by socio-economic frustrations and not reflective of the South African government's policies. They urge the South African government to enhance security measures to protect all residents, including Nigerian migrants, and to address the underlying structural issues causing tensions.

CPPE also highlights the significant contributions of South African investments to Nigeria's economy, job creation, and financial inclusion.