JOHANNESBURG, March 2 (Reuters) – 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.
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