
Media and policy analyst Dr. Odugbemi has cautioned that growing calls to nationalise South African-owned businesses in countries such as Nigeria may deepen the same anti-African sentiment that has triggered repeated attacks on migrants in South Africa.
In a detailed commentary, Odugbemi argued that while nationalisation is not inherently xenophobic, targeting companies such as MTN and MultiChoice solely in response to violence against Nigerians and other African nationals in South Africa would amount to retaliatory Afrophobia.
According to him, the distinction lies in motive. Governments may legitimately nationalise strategic sectors as part of economic policy, but singling out South African firms because of the nationality of their owners shifts the action from policy to punishment.
“Retaliating against businesses simply because they are South African mirrors the same logic used by attackers in South Africa who target Africans based on where they come from,” he said.
Odugbemi said the violence in South Africa is more accurately described as Afrophobia rather than generic xenophobia because the victims are overwhelmingly black Africans from countries such as Nigeria, Zimbabwe, Somalia and Mozambique.
These migrants are often accused of taking jobs or dominating small businesses, even as broader issues such as unemployment, inequality and weak public services remain unresolved.
He noted that the hostility stands in contrast to the limited public anger directed at longstanding ownership structures in sectors such as mining, banking and land, much of which remains concentrated in a few hands decades after apartheid.

Odugbemi traced the trend back to the 2008 xenophobic attacks in South Africa, which left more than 60 people dead and displaced tens of thousands.
Subsequent waves of violence in 2015, 2019 and the early 2020s have repeatedly targeted African-owned shops and businesses, particularly in informal settlements and urban townships.
He said the latest incidents in 2026 reflect the same underlying pressures: youth unemployment above 45%, deep inequality, political scapegoating and competition in the informal economy.
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The analyst warned that punitive action against South African businesses operating elsewhere in Africa could hurt local economies more than South Africa itself.
Companies such as MTN, DStv (MultiChoice), Old Mutual and Standard Bank Group employ thousands of Africans, pay taxes and provide services across the continent.
Seizing or shutting down those businesses, he said, would:
Odugbemi cited the Centre for the Promotion of Private Enterprise, which has described proposals to revoke licences or nationalise South African assets as inappropriate, disproportionate and counterproductive.

At the heart of Odugbemi’s argument is the idea that Afrophobia diverts attention from the continent’s deeper structural problems.
Rather than confronting inequality, unemployment and concentrated economic power, he said Africans are increasingly turning against one another.
“Every time an African attacks another African while the underlying economic structures remain intact, the real issues go unaddressed,” he wrote.
Odugbemi’s analysis suggests that while frustration over attacks on African migrants is understandable, retaliatory measures against South African companies risk repeating the same nationality-based prejudice that fuels the violence.
His conclusion is that African governments should focus on diplomatic pressure, stronger protections for migrants and long-term economic reforms, rather than punishing businesses because of their country of origin.
In his view, breaking the cycle of Afrophobia will require African leaders to address the structural causes of discontent and resist turning economic anger into hostility against fellow Africans.