The Billions Flow: How South African Firms Repatriate Profits from Nigeria

South African companies such as MTN, DSTV and Stanbic IBTC generate massive revenues in Nigeria each year. In fact, MTN Nigeria alone boasts over 94 million subscribers—more than the combined populations of South Africa, Lesotho and Namibia. Latest data indicates that MTN repatriated roughly R9.3 billion from its Nigerian operations back to South Africa in 2024. Every airtime purchase here helps fund schools, hospitals and roads in South Africa. When you add the remittances from DSTV and other firms, the total outflow runs into billions of rand. It’s clear that Nigerian consumers play a major role in boosting South Africa’s economy.

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