The wave of online rage spreading from South Africa is now spilling into West Africa, with social media users in Nigeria calling for the eviction of African-owned companies operating across the continent, including MTN.
Regional economists and corporate leaders, however, are warning that using pan-African companies as leverage in geopolitical disputes could sabotage the long-term vision of continental unity and economic integration.
The African Continental Free Trade Area (AfCFTA), established to create a single market for goods and services across 54 countries, relies heavily on the cross-border movement of capital and operations spearheaded by telecom giants like MTN.
The United Nations Economic Commission for Africa (UNECA) projects that AfCFTA could boost intra-African trade by up to 52%.
Attacking the corporate pillars that facilitate this trade over localised Afrophobic incidents directly undermines this historic economic pact.
MTN Group CEO Ralph Mupita recently addressed the implications of these tensions, noting that corporate giants with a continental footprint are deeply intertwined with the economies they serve.
Speaking to Bloomberg, Mupita provided a statistical reality check regarding the company’s revenue distribution: “MTN makes less than 20% in South Africa and makes 80% of our earnings elsewhere.”
This data point illustrates that MTN is, by definition, a broadly African asset rather than a strictly South African one.
Furthermore, driving away multinational telecommunications operators would have a cascading effect on local economies. In Nigeria alone, the telecom sector provides the backbone for the nation’s booming fintech and e-commerce industries.
Retaliatory boycotts would threaten thousands of direct jobs and millions of indirect livelihoods. “MTN as a pan African business, is supportive of constructive and inclusive dialogue on these complex issues,” Mupita emphasised via LinkedIn, advocating for diplomacy over destruction.
To secure a prosperous future, the narrative must shift from retaliatory nationalism to collective accountability.
African leaders must enforce the protection of migrants in their respective countries while fostering environments where pan-African commerce can thrive uninterrupted by xenophobic flashpoints.
Unity is an economic imperative in this context.
