For years, South Africa's largest companies expanded across Africa in search of growth, building businesses that now serve millions of customers far beyond their home market.
That strategy helped create some of the continent's most recognisable corporate brands, from MTN and Standard Bank to Shoprite, MultiChoice and Gold Fields.
While the dispute is largely political, analysts say the economic consequences could be far-reaching for South African companies whose fortunes increasingly depend on markets outside their home country.
South Africa remains one of Africa's most industrialised economy, but slower domestic growth, energy shortages and weak consumer spending have pushed many of its largest corporations to seek opportunities elsewhere on the continent.
For MTN Group, the strategy has been particularly successful. The telecommunications giant generates the majority of its earnings outside South Africa, with Nigeria remaining one of its most important markets.
