Blue Label refocusses its International strategy
Johannesburg, Monday, 13 June 2011. Blue Label announced today that it has decided to terminate its business activities in Nigeria.
Following Blue Label's cancellation of the Multi-Links contract in November 2010 and its consequent impact on the viability of the business in Nigeria, Blue Label has decided to terminate its business activities in this region.
Joint CEO of Blue Label, Mark Levy said: "This will enable Blue Label to redeploy resources to our other international businesses, in particular India and Mexico".
Blue Label has a minority (effective 36.72%) stake in Africa Prepaid Services Nigeria Limited through its 72% shareholding in Africa Prepaid Services (Pty) Limited.