Clover, A South African Beverage Company Withdraws From Nigeria

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A South African beverage company, Clover that produces Tropika fruit juice, says it is withdrawing future investments in the Nigerian market. “Clover becomes the second South African country in two weeks to toe this line,” TheClable reports.

“In its fiscal year end profit/loss posting, the company said the financial crisis in Nigeria is to blame for its withdrawal from the Nigerian market.

“The current financial crisis experienced in Nigeria, which is fueled by the low oil price, is a further cause of concern, thus the Group has decided to withdraw from future investments in Nigeria.” Clover’s Financial Statement reads.

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