MTN shares in Nigeria tank on corruption agency probe of its listing in Lagos

Dar es Salaam, Tanzania. By ODILRAK91. (Wikipedia)

Shares in MTN Nigeria fell by 7.2% on Monday after the company admitted that the West African nation’s anti-graft agency is investigating its listing.

The stock slumped 7.2% to drop for a second day.

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More African Business News

The Money Show’s Bruce Whitfield interviewed Dianna Games, Chief Executive at Africa At Work.

Games spoke about Tanzanian President John Magufuli’s visit to Zimbabwe as Harare suffers 10 hours per day without electricity.

She spoke about Magufuli’s plans for a gigantic hydropower project on the Rufiji River, which threatens to destroy a vast area of the country’s largest game reserve.

Construction has begun, despite concerns and a massive gas reserve to exploit for electricity generation.

Lastly, Games discussed British firm PZ Cussons, maker of healthcare products and consumer goods.

It’s been in Nigeria for 120 years and listed on the stock exchange in Lagos 58 years ago.

For more detail, listen to Whitfield’s interview of Games in the audio below.

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