Aliko Dangote, Africa’s richest man, on Monday, announced his resignation from Dangote Flour Mills following South Africa’s Tiger Brands funding withdrawal.

Dangote resigned alongside Olakunle Alake, Asue Ighodalo and Arnold Ekpe immediately after the announcement, which may mean the end of DFM.

Tiger Brands, a South African consumer goods maker, revealed its decision to cease funding its Nigerian division as it undergoes major economic reviews.

“Tiger Brands has decided not to provide further financial support with respect to its investment in Tiger Branded Consumer Goods Plc of Nigeria,” the company said in a statement.

According to Reuters, Tiger Brands has not made money from Dangote Flour Mills (DFM) since paying nearly $200 million for a 65 percent stake in the firm back in 2012.

Though DFM is named after Dangote, his group’s equity stake in the firm is only 10 percent. Anthony Geard, an industry analyst with Investec Securities, said “without Tiger Brands injecting money, it is the end of the line for DFM”.

Dangote Group is investing heavily in the African cement industry, with a plan to build production factories in 18 African countries and Nepal. Tiger Brands has large equity stakes in leading Nigerian companies including Deli Foods and UAC Foods.

http://linkis.com/www.vanguardngr.com/e18wL

And the economic woes continues.....so much for an economy under the tutelage of the most qualified change agent

Make i dodge before naija economy crash on my head

Sai Baba. MTN, Dangote etc that means job loss.

abokii in action

Potential Job losses!

This government stinks of bad luck!

[quote author=alcmene post=40088720]And the economic woes continues.....so much for an economy under the tutelage of the most qualified change agent

Make i dodge before naija economy crash on my head


YOU NEED SERIES OF DELIVERANCE FROM INTELLECTUAL BONDAGE.
No Lie Only Truth!

Those guys above me know next to nothing.their comments show the size of their brains.they need brain implants.TIGER BRAND HAS NOT MADE ANY FINANCIAL GAINS SINCE 2012.i guess it is buhari sucking up their money from daura since 2012.When You Are Big,you Are Big! Dangote will not beg anybody to use his goodwill,people will come begging.
The Truth Has Spoken! No Lie Only Truth!

I laff this country die. They do not know what is going on. The international market is going to bankrupt this nation in 6 months. I swear Buhari , Fashola and Amaechi will spend the next Eid el Fitr and Christmas in jail. All those small boys who are chanting SAI BABA, should get ready for their heads to roll.

TimeManager:
Those guys above me know next to nothing.their comments show the size of their brains.they need brain implants.TIGER BRAND HAS NOT MADE ANY FINANCIAL GAINS SINCE 2012.i guess it is buhari sucking up their money from daura since 2012.When You Are Big,you Are Big! Dangote will not beg anybody to use his goodwill,people will come begging.
The Truth Has Spoken! No Lie Only Truth!

Shut up your mouth. You don't know anything. So it is now that the parent company in SA will just realise that they are not making any profit. If you know what is good for you and your family, you better stop this CHANGE rubbish and just lock up. For when the hammer falls, you might just receive the hit.

[quote author=hinwazaka post=40091740]
Shut up your mouth. You don't know anything. So it is now that the parent company in SA will just realise that they are not making any profit.


BRO,IT IS NOT ABOUT TYPING ENGLISH,IT IS ABOUT READING & UNDERSTANDING ENGLISH.EMPHASIS MUST BE LAID ON 2012,LIKE IT OR NOT.SA REALISES THAT THERE HAS BEEN NO GAINS SINCE 2012 HENCE THE WITHDRAWAL RATHER THAN RENEW THE CONTRACT(BASIC ECONOMICS)
If you know what is good for you and your family, you better stop this CHANGE rubbish and just lock up. For when the hammer falls, you might just receive the hit.


ME AND MY FAMILY ARE ABOUT TO ENJOY THIS CHANGE,I 'D ENJOIN YOU TO TAG ALONG.AS FOR THE HAMMER..NO! THIS CHANGE DOES NOT DEAL WITH HAMMER,WE DEAL WITH COMMON SENSE.
No Lie Only Truth!