Africa’s richest man and Chairman, Dangote Group, Aliko Dangote has resigned from the board of Tiger Branded Consumer Goods Plc, formerly known as Dangote Flour Mills.
Why Africa's richest man resigned from Dangote Flour Mills
It was recently made public that Dangote has resigned from the board of Tiger Branded Consumer Goods Plc, formerly known as Dangote Flour Mills.
READ MORE: Dangote resigns from Flour Mills
In a notice to the Nigerian division, and received also by the Nigerian Stock Exchange, the South African fast consumer goods company said:
“Tiger Brands has decided not to provide further financial support with respect to its investment in Tiger Branded Consumer Goods Plc of Nigeria.”
ADVERTISEMENT
According to OSG, sources close to the South African company said Tiger Brands decision followed their inability to make money from Dangote Flour Mills after committing about 200 million dollars or 65 per cent equity in the Nigerian flour mill in 2013.
Aliko Dangote holds 10 percent of the company’s equity through Dangote Industries.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Husband begs IGP to find his wife who went missing on official police duty
Ghanaian sets world record for hugging over 1,000 trees in 1 hour
Lecturers need to undergo drug test to sanitise university system - Former VC
APC chieftains challenge EFCC to follow due process in Yahaya Bello's case
3 dead, 2 injured in 3-storey building collapse in Kano - NEMA confirms
Lagos NCS visits family of stampede victim, promises nonstop financial support
ASUU Sokoto demands council reconfirmation, payment of allowances
Yahaya Bello: Charge, prosecute US school for money laundering - Sowore to EFCC
Don't hide deformed kids, they can contribute to nation's growth - Expert
ADVERTISEMENT