South African Company Buys N63Billion Stake In Mtn Nigeria

Reports indicate Shanduka Group, a South African Company, invest R2.96million or N63billion in MTN Nigeria. MTN Nigeria like we all know is a subsidiary of MTN Group South Africa. The report also indicated three private investors investors in MTN sold their stake in exchange for the money. Shanduka Group’s investment vehicle is reported to be registered in Mauritius. Most offshore companies investing in Nigeria typically set up vehicles in Mauritius, a country that is designated as a tax heaven for businesses.