South Africa has warned Nigeria, Ghana and other African countries against proposals to nationalise South African-owned businesses in retaliation for anti-migrant attacks, saying such action would inflict serious damage on the economies implementing it.
Presidential spokesperson Vincent Magwenya said confiscating private assets would undermine investor confidence, create uncertainty and signal that the countries involved were no longer safe destinations for trade and investment.
The warning follows calls from some Nigerian political figures for South African corporate assets to be seized and used to compensate Nigerians affected by attacks in South Africa.
Tensions have escalated as Nigeria, Ghana and other African governments demand stronger action from Pretoria against violence and intimidation targeting migrants.