Following renewed xenophobic attacks targeting African migrants in South Africa, particularly Ghanaians, some citizens of Ghana have called for retaliation or a boycott of South African businesses operating in the country.
The conversation has intensified after reports that 297 Ghanaians recently returned home, amid claims that some South Africans have issued a June 30 ultimatum demanding that undocumented Ghanaian migrants leave the country. The situation has fueled growing nationalist sentiment, boycott campaigns, and renewed demands for stronger local ownership policies in Ghana.
In this article, we take a closer look at some of the most prominent South African businesses operating in Ghana and how they are increasingly being drawn into the ongoing debate.
- MTN Ghana
MTN Ghana’s roots began with the registration of Scancom Limited in 1994. The company officially launched operations in November 1996 under the brand name Spacefon
The brand later changed from Spacefon, Spacefon Areeba, Areeba then to MTN Ghana.
MTN Group acquired Scancom and rebranded the company as MTN Ghana in 2006, now the largest telecommunications companies in Ghana.
MTN Ghana is the clearest symbol of South African economic influence in Ghana. The telecom giant dominates mobile money, voice, and internet services in the country.
- KPMG Ghana
KPMG operates in Ghana through audit, tax, and advisory services that support banks, mining companies, telecom firms, and government-linked transactions.
KPMG corporate influence, according to reports, extends beyond visible consumer brands into the professional and financial architecture of Ghana’s economy.
- Gold Fields
Gold Fields operates the Tarkwa mine and has become one of the most politically sensitive South African companies in Ghana, who are now also facing its mining lease expiring.
Following the recent xenophobic attacks on Ghanaian in South Africa, activists and commentators have openly called on the Mahama government not to renew Gold Fields’ mining lease.
Some argued that Gold Fields can be used as a leverage point in diplomatic tensions.
Gold Fields has also become part of a broader debate about local ownership, with Ghanaians calling for the prioritisation of indigenous participation in mining rather than foreign multinationals.
The CEO of Gold Fields, Mike Fraser, has said the mining company are not going to give up in any way on Tarkwa.
According to him, in November last year, Gold Fields submitted a lease extension for the Tarkwa mine, which will give them another 20 years of mining at Tarkwa.
Speaking at the Awudua in the Western Region on May 7 during a courtesy call on Nana Asare Brempong II, and the elders of the Apinto Divisional Area, disclosing that Gold Fields is not going to give up in any way on Tarkwa.
He stated, “We are not going to give up in any way on Tarkwa. In November last year, we submitted a lease extension for the Tarkwa mine, which would give us… another 20 years of mining at Tarkwa”.
- AngloGold Ashanti
AngloGold Ashanti is one of the world’s largest gold mining companies and is another South African company in Ghana, although it has a deep historical connection with Ghana through the famous Obuasi Gold Mine.
Reports gathered suggest that in 2004, South Africa’s AngloGold merged with Ghana’s Ashanti Goldfields Corporation to create AngloGold Ashanti.
The union was certified in Ghana and created a global mining giant headquartered in Johannesburg.
It remains strongly associated with South Africa; reports suggest that during earlier xenophobic violence in 2015, AngloGold publicly condemned attacks on foreigners.
- Stanbic Bank Ghana
Stanbic Bank Ghana is one of Ghana’s largest banks and finances major infrastructure, mining, and energy projects.
Ghanaians on social media, in their discussions around xenophobia, have frequently mentioned Stanbic alongside MTN as examples of how economically intertwined Ghana and South Africa have become.
Some social media users argue that a boycott would be difficult precisely because South African companies are deeply integrated into the daily life of Ghanaians, with Stanbic Bank also employing countless Ghanaians who may also be affected by Ghanaians boycotting the bank.
- MultiChoice Group / DStv
MultiChoice, operators of DStv and Gotv, is another South African company that dominates satellite television and sports broadcasting in Ghana.
Last year, DStv subscription prices often became symbolic targets for boycott campaigns, but were settled following MultiChoice Group bowing to pressure from the Ghanaian Communication Minister Sam George.
Should the xenophobic attacks persist, there is no doubt Ghanaians will call for a boycott of DStv and Gotv as a means of sending a message to South Africans.
- Absa Bank Ghana
Absa, formerly Barclays Ghana, represents another major South African banking presence.
Like others on the list, Absa is often listed in reactions to xenophobic incidents when Ghanaians call for a boycott of South African businesses.
However, many acknowledge the practical difficulty of boycotting the institutions that employ thousands of Ghanaians and support local commerce.
- Shoprite holdings
Shoprite remains one of South Africa’s biggest retail shops in Ghana despite scaling down and exiting parts of the Ghanaian market.
During Ghanaian conversations about retaliation and boycotts, people often cite Shoprite as part of a larger group of businesses from South Africa that profit significantly across the continent while sections of South African society remain hostile toward African migrants.
Shoprite has branches at the Accra Mall, West Hills, Osu, Achimota Mall, Kumasi Mall, Junction Mall and Takoradi.
Meanwhile, in 2025, Shoprite announced plans to exit Ghana after more than 20 years of operations.
Ghanaians have zoomed in on these companies following their fellow Ghanaians being attacked in South Africa, with some sections calling for retaliation and boycotts of these businesses.
Watch how Ghanaians facing xenophobic attacks in South Africa left South Africa to Ghana #GHNow pic.twitter.com/dBsvDbKlg5
— GHnow (@ghnow_) May 28, 2026
Images of the arrival of Ghanaians evacuated from South Africa amid xenophobic attacks #GHNow pic.twitter.com/HKWsAoOzXp
— GHnow (@ghnow_) May 28, 2026
