Our Africa Feature: Why Are Companies Exiting Nigeria?

Nigerian conglomerate UAC plc has signed an agreement to acquire the minority shares of its unlisted subsidiary UAC Foods from South Africa’s Tiger Brands next month, it said. The sale makes Tiger Brands the latest South African business to exit Nigeria, Africa’s most populous nation and largest economy – where economic weakness last year curbed consumer demand, input cost rises have cut into margins, and currency volatility has further eroded profits.