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InvestmentRe: Second Quarter Promo Is Here: Act Now! by Bigkoko(op): 12:30pm On May 23, 2022
Update on International Spending Limit

Dear **************************,

In view of the foreign exchange market realities, our Naira Debit and Credit cards will no longer be allowed for international transactions.

If you require a card for international transactions, we encourage you to apply for our foreign currency card (USD or GBP Domiciliary account required). This will give you access to a higher international monthly limit of $5,000 (formerly $1,000), which can be increased.

Please contact your Relationship Manager or visit any of our branches to get a foreign currency card.

Thank you for choosing FCMB.


A message to our Nigerian co-founder Business account. And our Co-founder Is currently on a business trip outside Africa.

What the Smart entrepreneur does in perilous times like this is spread their riches & wealth across board.
There is a reason why the Billionaires all have Shell Companies, Offshore bank accounts in Cayman Island, Bahamas, Macau, Switzerland, Mauritius, Luxembourg, etc. Because it takes just one bad Government policy or leader to wipe off 70% of your wealth. Just one.

In 2015, If anyone told Dangote he is going to be begging money to complete a laudable Project which has capacity to increase his net worth by $1 billion every three years, he won't believe it. Billionaires like Musk won't kill to have the kind of privilege Dangote have.

Mr. Dangote was supposed to transfer 68% of his Holdings in DIL to a Shell Company in NEW YORK in early 2021, but Regulatory Compliance made him abandon the quest. New York business Compliance means Mr Dangote would open up his books, be more transparent & most likely be forced to make full Disclosure. He was well advised by top rated Consultancy Firms in London & New York to do so, and/or, had he made full commitment to that advise, Dangote would literally be rolling in wealth now, because hundreds of investors and Hedge fund managers would line up to give him what ever amount in dollars or pounds he needs. But, he thought the dollars rolled out by Emiefele has no end....

Should a new pandemic hit, or price fluctuations affect Customers purchasing power too much, too much, Dangote would cease to be a billionaire. This is because his lenders would call up his debts, or give more time to service it. With no real income coming, his values would further plummet. This is not a good time to be a Dangote.

Spread your wealth. Talk to us. Don't be like Nokia or Dangote.
BusinessRe: Why Businesses Fail! by Bigkoko(op): 2:44pm On May 21, 2022
Innovate or go into extinction. Conform to what the market needs or go into paralysis. The business world have no pity on businesses that refuse to innovate or conform. Ask Nokia.

I do rather you be like Dr Chukwuma Innocent of Innoson Brand, than you take after Mr Aliko Dangote of Dangote Brand. Both are miles apart in terms of Creativity, Innovation & flexibility even though both Brands are led by billionaires.
While Dr Chukwuma exhumes the aura of a home grown tactician, who conform to tenets of True Capitalism & Free Market Economy, the same can not be said of Mr Aliko who rides on pure govt goodwill & patronage. The very opposite of a Capitalist Free Market economy which the largest Economy in Africa purportedly claim to practice.

Big girl Rihanna has launched Beauty Products. She has refused to depend on only songs or endorsements. See? Innovate or die. Visits/prayers to Rome/Mecca/Jerusalem will not help you.
AutosRe: Innoson Set To Slash Keke Price To N300,000 by Bigkoko: 12:09pm On May 21, 2022
This is perhaps a man that ought to enjoy Gov patronage, lobbying & strategic policies, if there ought to be a thing like that to be supported. Not that motherfucker leech; Mr Akiko Dangote! Anyway dude is broke!

Despite the tough terrain that fiscally irresponsible gov of Central Bank Emefiele Godwin and his band of plunderers have turned the largest economy to, he is still flexible, innovative and have the interest of the general public at heart!

Anytime I will be in Nigeria, I will like to meet this enigma; Dr Chukwuma Innocent! I hope Mr Cornel Osigwe would organize a schedule for me!

This is commendable! Go Innoson! Go Nigeria! Go merit, innovation loving Entrepreneurs!

BusinessRe: Why Businesses Fail! by Bigkoko(op): 2:50pm On May 20, 2022
WHY BUSINESS FAIL?
Businesses fail everywhere. Its not peculiar to you or your country, but lets take the Rwandan situation.

Mr Smith is an Entreprenuer seeking to try other markets within the Continent he lives.
He zeroes in on Rwandan-EAC regional market as a sure bet for better opportunities.
However, Mr Smith bussiness could not live beyond 90 days as a running business outfit. So what went wrong? Lets x ray.

1. Mr Smith did not conduct a Feasibility study to ascertain if the ideas playing on his head conforms to current realities. The market dictates what to buy, not your passion.
2. Mr Smith did not do Due Dilligience before committing his investment capital to the business venture.
3. Mr Smith has two strong competition: The locals & The Big Players.
4. Mr Smith has huge operating expenses.
5. Mr Smith do not have a niche product/services.

Look my friend if you are coming here to open a barbering salon, owning a bike, a normal restaurants those things you d likely see in every hook & crony etc i will honestly tell you not to make the move. We have lots of them littered here and closing up. Anyone who tells you otherwise is a wicked person. Trust me you would waste your money, and worse get stranded.

For you to scale the first 90 days running your business, make sure

1. You keep funds for your living expenses separate from your business expenses. These motherfuckers here (no offense please) have designed their city & economy to look much like the European ones. I usually call Kigali, Musanze, Gisenyi, QUOTE, "EUROPEAN CITIES WITHOUT WINTER".

2. Make sure, i repeat, make sure you have the right staff. These guys here are laid back. They dont like stress. They are not as flexible as say, the Chinese, Indian, or Nigerians. They all love simple stuffs like the way old people like sun lights. They usually look forward to those good times in a bar. They love booze.

3. Dont employ a staff who do not commit, in writing, to 50% of his salary to be based on KPI or commission. The worker is not serious. So tell me, if the business dont get income, where will i get money to pay them? I have a principle of, QUOTE, 'You dont work, You dont eat. And if you work, make sure it bring results, i believe in results, not efforts" Anyone can make an effort, but not everybody can bring results.

4. Make sure a third party, differently from you, advised you appropriately by doing a Feasibility for you, designing a product/services for you which you might modify to suit your initiative.

If you take these four advise seriously, i m certain your business must cross the first six months. And possibly sustain itself because during those build up time, you will important lessons which Harvard or Princeton wont teach you.
BusinessRe: Bigkoko Vendors Forum: Thread Where Info On Bids Are Found by Bigkoko(op): 7:43am On May 20, 2022
Bid 16/May/22
Item(s): Senator/Southern Nigerian native wears.
Quality: Holistically prepared & sewed. Good quality material.
Quantity: 10 pc
Qualifying criteria: ***
Measurements will be supplied to winners of Bids. All Complete clothing/Up & Down.
Weight: NA
Color: Flexible. Open to options.
Condition of items: Well package in neatly trimmed nylon bag and placed inside an attractive carton.
Packaging: Transparent nylon, well sealed & Packaged in cartons.
Category: Micro Scale
Supply deadline: 29/05/22
Where to submit Bids: Via email or WhatsApp in PDF/Doc format
InvestmentRe: Second Quarter Promo Is Here: Act Now! by Bigkoko(op): 7:40am On May 20, 2022
Take advantage of our bespoke premium Services!
Talk to us, we can help you grow. The strategy that keeps us in business in Kigali Rwanda, enable us to be profitable as to be able to pay our bills while enjoying a Europe without Winter in Africa, will be revealed to you to replicate in your own business!

We're just a phone call, email or Whatsapp message away!
BusinessRe: Register Your Company In Kigali Rwanda & Get A Bank Account In 7-10 by Bigkoko(op): 7:37am On May 20, 2022
Promo still on!
BusinessRe: Bigkoko Vendors Forum: Thread Where Info On Bids Are Found by Bigkoko(op): 7:34am On May 20, 2022
Bid 15/May/22
Item(s): Etibo/Southern Nigerian native wears.
Quality: Holistically prepared & sewed. Good quality material.
Quantity: 10 pc
Qualifying criteria: ***
Measurements will be supplied to winners of Bids. All single tops.
Weight: NA
Color: Flexible. Open to options.
Condition of items: Well package in neatly trimmed nylon bag and placed inside an attractive carton.
Packaging: Transparent nylon, well sealed & Packaged in cartons.
Category: Micro Scale
Supply deadline: 29/05/22
Where to submit Bids: Via email or WhatsApp in PDF/Doc format
BusinessRe: Bigkoko Vendors Forum: Thread Where Info On Bids Are Found by Bigkoko(op): 7:29am On May 20, 2022
Bid 14/May/22
Item(s): Shea butter (Pure Undiluted, smells naturally.
Quality: Hygienically prepared. Sand & stone free. Non rancid.
Quantity: 10kg.
Qualifying criteria: ***
Weight: NA
Color: Slightly burnt cream color.
Condition of items: Non Rancid. Well package to avoid air oxidizing the product.
Packaging: Transparent nylon, well sealed.
Category: Micro Scale
Supply deadline: 29/05/22
Where to submit Bids: Via email or WhatsApp in PDF/Doc format
BusinessRe: Bigkoko Vendors Forum: Thread Where Info On Bids Are Found by Bigkoko(op): 7:26am On May 20, 2022
Bit of a little readjustment due to rescheduling of delivery.
And also more items were requested by our customers here.

Bigkoko:
Timeline for May Supplies.
01/May/22 - 15/May/22 : Items will be dropped for vendors to submit Bids.

15/May/22 -18/May/22 : Vendors who won Bids to supply would be contacted, and letters issued.

25/May/22: Vendors send Goods to Agent in Lagos who inspect, assemble, weigh & pack them properly.

29/May/22: Goods sent to us in Kigali.
InvestmentRe: How The Rich Thinks: Learn Strategies! by Bigkoko(op): 7:46am On May 19, 2022
To the Rich and wealthy, everything must be seen from the prism of Value.
To the poor & unproductive, everything must be seen from the prism of risk!

There's a thin line that separate Value from risks. The higher the risks, the More valuable the item is!

The rich and famous always go for high risk ventures, while the poor and lowly go for low hanging fruits!

Everyone has access to low hanging fruits, but not everyone can make a high risk venture!

The Rich can never get poor, while the poor can never get rich so long they work within their space.

Visits to Mecca, Jerusalem or Rome do nothing to change this!
BusinessRe: Register Your Company In Kigali Rwanda & Get A Bank Account In 7-10 by Bigkoko(op): 4:45am On May 19, 2022
Our Second Quarter Promo is ongoing!

Take our offer to help you register your Company in Kigali Rwanda for just $50/28,000#/60,000Rwf, and get Complimentary Services at:

> Business Consultation worth $50 Free✓

> Cheaper accommodation (Homes & Offices locations) sourcing worth $30 Free✓

> Personal Support Services worth $38 Free✓

> Work Permit Advisory worth $150 at half the price of $75! We guide you on applying, and getting a work permit in Rwanda that can allow you travel to Kenya, Uganda, Tanzania, and some COMESA countries without visa for those respective countries, other than a border pass at no extra cost to you!

> Feasibility Study of advised business worth $150 at half the price $75! Any business we guide; do a Feasibility for entrepreneurs and when they follow our experienced business advice, their Never fail in Kigali Rwanda, nor make a Statistics amongst failed businesses!

> Business Development Service worth $300 at half the price of $150! We help you design a product that would be accepted by the market. This includes Product/Service Design and customization to suit the Kigali Rwanda-EAC market. Your New business need this service. Especially Tech, FINTECH/FINSERVICES, Tourism, Import, Export related businesses!

> Business Support Services worth $150 at half the price of $75!

> Product/Service Design & Customization worth $300 at just $210.

This offer is valid for two weeks only. May 13-27.

For further information kindly contact us through three means;
1. A visit to our uptown Kigali office.
2. A message through WhatsApp/call.
3. An email.

A service oriented customer assistant would attend to you promptly!
InvestmentRe: Dr Chukwuma Of Innoson Motors. A Most Read! by Bigkoko(op): 4:43am On May 19, 2022
Our Second Quarter Promo is ongoing!

Take our offer to help you register your Company in Kigali Rwanda for just $50/28,000#/60,000Rwf, and get Complimentary Services at:

> Business Consultation worth $50 Free✓

> Cheaper accommodation (Homes & Offices locations) sourcing worth $30 Free✓

> Personal Support Services worth $38 Free✓

> Work Permit Advisory worth $150 at half the price of $75! We guide you on applying, and getting a work permit in Rwanda that can allow you travel to Kenya, Uganda, Tanzania, and some COMESA countries without visa for those respective countries, other than a border pass at no extra cost to you!

> Feasibility Study of advised business worth $150 at half the price $75! Any business we guide; do a Feasibility for entrepreneurs and when they follow our experienced business advice, their Never fail in Kigali Rwanda, nor make a Statistics amongst failed businesses!

> Business Development Service worth $300 at half the price of $150! We help you design a product that would be accepted by the market. This includes Product/Service Design and customization to suit the Kigali Rwanda-EAC market. Your New business need this service. Especially Tech, FINTECH/FINSERVICES, Tourism, Import, Export related businesses!

> Business Support Services worth $150 at half the price of $75!

> Product/Service Design & Customization worth $300 at just $210.

This offer is valid for two weeks only. May 13-27.

For further information kindly contact us through three means;
1. A visit to our uptown Kigali office.
2. A message through WhatsApp/call.
3. An email.

A service oriented customer assistant would attend to you promptly!

InvestmentRe: Dr Chukwuma Of Innoson Motors. A Most Read! by Bigkoko(op): 5:36pm On May 18, 2022
When your books are not cooked, or your business riding on Gov patronage... or Shady insider dealings. You simply win my admiration!

Some day, I hope Bigkoko African Integrated Services Ltd would grow to span countries; East, West, North and South Africa! And the globe indeed!
BusinessRe: Register Your Company In Kigali Rwanda & Get A Bank Account In 7-10 by Bigkoko(op): 4:12pm On May 18, 2022
For just 28,000#/60,000Rwf Bigkoko will register a Domestic Limited Liability Company in Rwanda for you.
All that's needed are:

• Copy of biopage of int'l passport of directors.
• Name of Company.
• Nature of Company's Business.
• Share Capital.
• Phone number.

Timeline of Completion of Registration: 3 days.
BusinessRe: Don't Be Like Nokia: The The Gang Up Is Real! by Bigkoko(op): 4:06pm On May 18, 2022
Innovation and flexibility is the Capital of any business!
InvestmentRe: Dangote Is Broke! Says His Foreign Buddies! A Must Read! by Bigkoko(op): 4:04pm On May 18, 2022
Break the Monopoly of Shady business men in Nigeria... And the economy would grow by itself. When this happens, your life improves as well! And values would be created.

Dangote isn't as Rich as Forbes rates him. Dude is infact a shady business man with lots of cooked books, back door dealings and Nigeria Gov patronage.

The West just discovered that the motherfucker is not as Rich as Forbes rated him, just that dude is privileged to have idiots running the largest economy in Africa! Economy him & his cohorts have helped into recession thrice. And bad news; he is fucking broke! His only source of Free dollars is fucking dried up!

If you read the full report by Fitch you will be utterly speechless as to how insolvent DIL is!
BusinessRe: 5 Reasons Why Talk Of Dangote Being Broke Is Financial Illiteracy by Bigkoko: 3:52pm On May 18, 2022
Weeks ago Roman Abrahmovich, billionaire Russian oligarchy who owned Premier League club Chelsea was reportedly broke due to Western sanctions on him & his holdings, and cap in hand begging his billionaire friends for a couple of million dollars for personal living expenses... Honestly, ordinary Russian people careless if Abrahmovich go hungry. But you Nigerians always like defending crooked business men, rogue politicians and scam pastors who has done so much to make life miserable for you all, and deprived other African countries policy direction that ought to be the case if you don't defend nonsense...

Do you think because he's Chelsea owners he would just go deep hand on Chelsea finances? Or you think even at that time, some of his other businesses can not throw up $2 million for him? I know That's exactly what an African Money bag like Dangote would likely do. Not so with the White's because everything is structured.
BusinessRe: 5 Reasons Why Talk Of Dangote Being Broke Is Financial Illiteracy by Bigkoko: 3:44pm On May 18, 2022
Africa’s richest man Aliko Dangote seeks to raise an additional $1.1 billion to complete his refinery project by 2023
May 14th 2022, 2:52:34 pm

According to the report, Dangote has invested all his cash and even borrowed to finance the refinery project.
The report claims that the only way Dangote can raise money is through the sale of bonds by his cement company, Dangote Cement.
A new report claims that Africa’s richest man, Aliko Dangote, does not have the kind of money needed to complete his refinery by 2023.


The report published by Fitch, the world’s biggest global rating agency, alleges that the Nigerian billionaire requires an additional $1.1 billion (900 billion) to complete the refinery but has invested all his cash and even borrowed to finance the refinery project.

According to the report, the Dangote refinery project is still on track to be completed by 2023 and requires an additional USD1.1 billion capex in 2022 to be partly funded by the new bond.

The report adds that Dangote Industries Limited (DIL) is planning to establish a local bond programme amounting to USD750 million to partially finance the completion of its refinery and petrochemical plant. DIL's subsidiaries - Dangote Oil Refining Company Limited (DORC) and Dangote Fertiliser Limited (DFL) - will be co-obligors under the proposed programme.


“Funding for the completion of the refinery project is expected to be partly covered by proceeds of the new bond. If the transaction is not successful, or should completion costs overrun or market conditions in the cement or urea sector deteriorate materially, we do not believe that DIL's existing creditors would have further lending capacity. We believe that further asset sales, either in cement or stakes in the projects, would be the more likely options to address funding of the refinery.”

Fitch also noted that Dangote Industries suffers from weak corporate governance, adding that it’s a risk for Dangote, who already has a lot of power over operations, to remain the largest shareholder and CEO of the project.

In the report, Fitch said, “DIL has a complex group structure with a large amount of related-party transactions, with a negative effect on operational and financial transparency. We also view the dominance of Aliko Dangote, as CEO and the main shareholder, in operations as an additional risk.”

Fitch concluded its report by saying that the refinery project is expected to sustain strong margins and yield solid cash generation, adding diversification to DIL's profile and allowing rapid deleveraging.

“Once operational, we expect this project to contribute around USD1 billion to EBITDA annually when ramped up from 2024,” it added.
VICTOR OLUWOLE
BusinessRe: 5 Reasons Why Talk Of Dangote Being Broke Is Financial Illiteracy by Bigkoko: 3:43pm On May 18, 2022
Fitch is not an online Media. It's the largest Company in the world in it's line of business..
Don't display your ignorance on public platform, it's quite shameful. A 10MB worth of Data would have throw up good information to clear your doubt if you have any..

A lot of African countries are looking up to Nigeria and it's Money bags for Business Innovation and Fiscal Responsibility! Not a business grown on political patronage, insider dealings And cooked books!

moneycentral20:
Recently there have been publications in some online media to the effect that Africa’s richest man Aliko Dangote is broke, with his holding Company Dangote Industries Limited (DIL) said to be unable to complete its multi-billion dollars 650,000-barrel refinery in the outskirts of Lagos.

We believe such reports to be financial illiteracy and a lack of understanding of how modern finance works.

A simple definition of financial illiteracy is the opposite of financial literacy. Financial literacy is the knowledge necessary to make important financial decisions. It can help with decisions about budgets, debt, and investing.

Dangote is the 66th richest man in the world, and worth $21 billion, according to the Bloomberg Billionaires Index.

MoneyCentral will below breakdown the reasons Dangote cannot be ‘broke’ and how the current and future cash flows from all of his productive assets (sugar, cement, refining, salt, agriculture, fertilizer etc) are the source of his wealth.

DIL is a diversified conglomerate in Nigeria with a leading share in the cement business and a future key operator in the petrochemical industry through its fertiliser and oil refinery business.

Read more: https://moneycentral.com.ng/markets/article/5-reasons-why-talk-of-dangote-being-broke-is-financial-illiteracy/
InvestmentRe: Second Quarter Promo Is Here: Act Now! by Bigkoko(op): 3:24pm On May 18, 2022
Yes, we need your patronage, but we will tell you exactly the way it is here!

Please I beg you before coming to establish in Rwanda, kindly make sure you follow Bigkoko Business Advisory... Or possibly do a good Diligence your self.

We understand the terrain very very well. Knows what will never stand the test of time.

I know Why I'm saying this. Some persons I know are stranded here. They don't seem to be in good shape. Look, I have to personally stack the integrity of my Company three months ago, for a Nigerian who was misled, and I'm glad he got what he was looking for through my intervention. But, I vowed Never to do it again. Trust me I won't.

If you don't listen, you will learn the hard & bitter way. And I will have no sympathy for you.

Some Nigerian people are fond of starting a conversation with Bigkoko, but halfway shy away. Mainly due to not wanting to pay the necessary service charge. Voila... Next I know they're already in Kigali. I learnt they usually follow the advice of some other person.
I laugh because I know the out come. It's just two months before they will fold up! They always do!

As a policy, Bigkoko don't interfere, or even try to help such persons at all once you didn't start with us! We leave you to your devices.

I feel bad about a particular Nairalander who always read my posts, nice guy asked lots of questions and before you know it, they're already here, under the advise of some person. Dude have already expend almost $1200 on a second rate shop & bits of old dicrepit items. I don't know if simple Sense is lacking. $1200!!!

Well, heard he is putting up the shop he bought for closed to a $1200 exclusive of other expenses for $450. If you ask me, he's a motherfucker idiot! You invested that much on a hair salon. A business That litters every hook & crony of Kigali?
As a principle, I have no pity for fools.

His mistake:
They have bought an overpriced shop, with some second items that amount to nothing if I'm requested to do a due diligence on pricing. Now like other's they're putting up the shop at 1/4 the original price... less than two months!

Your Coconut head would make you loss your money! Avoid business where the locals are your competitor.

If you can not eliminate the locals significantly, as your competitor, don't invest there. Even MTN, DStv as large as they are don't like competition.

Business you must not establish in Kigali as foreigner:

Restaurants
Restobars
Bike transportation (owning a bike)
Barbering salon.
Hair making salons.
Butchery.
Selling in a shop.
Etc.

My advice is look around your country and find thriving Niche business and replicate same here, after contacting us to do a Feasibility Study, about a possibility of it working here!

This is not too much to understand!
InvestmentRe: Second Quarter Promo Is Here: Act Now! by Bigkoko(op): 5:37am On May 18, 2022
Take advantage of this opportunity!
InvestmentRe: Dr Chukwuma Of Innoson Motors. A Most Read! by Bigkoko(op): 8:32pm On May 17, 2022
AbundantGrains:
Hello, we should talk bigkoko +2349038105150
Ok. You can reach us on +250790927282.
InvestmentRe: Dangote Is Broke! Says His Foreign Buddies! A Must Read! by Bigkoko(op): 9:43am On May 17, 2022
Jennyclay:
Dangote can never be broke. Stop praying for his down fall.

@op I think you're the one who's broke here.
Look my friend it had nothing to do with prayers. Prayers or visits to Jerusalem, Mecca, Rome don't work in these sort of things.

Principles upon which economies are built care less of what you pray, how you pray or who you pray to! Adherence to laid down rules of engagement and Fiscal Responsibility is all that matters! That's my message my friend!

No need to be emotional. At this point in Dangote life, I hate to be on his shoes! Ok?
InvestmentRe: Dangote Is Broke! Says His Foreign Buddies! A Must Read! by Bigkoko(op): 9:39am On May 17, 2022
[quote author=Jennyclay post=112910116]Dangote can never be broke. Stop praying for his down fall.

@op I think you're the one who's broke

Africa’s richest man Aliko Dangote seeks to raise an additional $1.1 billion to complete his refinery project by 2023
May 14th 2022, 2:52:34 pm

According to the report, Dangote has invested all his cash and even borrowed to finance the refinery project.
The report claims that the only way Dangote can raise money is through the sale of bonds by his cement company, Dangote Cement.
A new report claims that Africa’s richest man, Aliko Dangote, does not have the kind of money needed to complete his refinery by 2023.


The report published by Fitch, the world’s biggest global rating agency, alleges that the Nigerian billionaire requires an additional $1.1 billion (900 billion) to complete the refinery but has invested all his cash and even borrowed to finance the refinery project.

According to the report, the Dangote refinery project is still on track to be completed by 2023 and requires an additional USD1.1 billion capex in 2022 to be partly funded by the new bond.

The report adds that Dangote Industries Limited (DIL) is planning to establish a local bond programme amounting to USD750 million to partially finance the completion of its refinery and petrochemical plant. DIL's subsidiaries - Dangote Oil Refining Company Limited (DORC) and Dangote Fertiliser Limited (DFL) - will be co-obligors under the proposed programme.


“Funding for the completion of the refinery project is expected to be partly covered by proceeds of the new bond. If the transaction is not successful, or should completion costs overrun or market conditions in the cement or urea sector deteriorate materially, we do not believe that DIL's existing creditors would have further lending capacity. We believe that further asset sales, either in cement or stakes in the projects, would be the more likely options to address funding of the refinery.”

Fitch also noted that Dangote Industries suffers from weak corporate governance, adding that it’s a risk for Dangote, who already has a lot of power over operations, to remain the largest shareholder and CEO of the project.

In the report, Fitch said, “DIL has a complex group structure with a large amount of related-party transactions, with a negative effect on operational and financial transparency. We also view the dominance of Aliko Dangote, as CEO and the main shareholder, in operations as an additional risk.”

Fitch concluded its report by saying that the refinery project is expected to sustain strong margins and yield solid cash generation, adding diversification to DIL's profile and allowing rapid deleveraging.

“Once operational, we expect this project to contribute around USD1 billion to EBITDA annually when ramped up from 2024,” it added.
VICTOR OLUWOLE
JOIN BUSINESS INSIDER AFRICA

This is a report by a reputable media Business insider Africa.
InvestmentDangote Is Broke! Says His Foreign Buddies! A Must Read! by Bigkoko(op): 9:13am On May 17, 2022
Look my friend, life is tough. It's tougher when you are not smart, intelligent, spoon fed or you rides on political patronage!

The Nigerian press & journalism was, is not alive to their responsibilities. Some call them Brown envelope journalists, others Call them unprofessional.

Take this the bank Dangote; the Nigerian born world's richest black man, the bastion of all that is fiscally wrong with the Nigerian economy on a large scale is on its way to the abyss. He has just only one Choice: A more Transparent Business Model that accommodate competition without using Gov influenced policies to muscle them out. This he can afford to do, but he won't. A peep into his books by International Auditors have uncover some of the most shameful practices since Enron, WorldCom and Madoff. Hence Fitch's Advisory that the dude is flat broke.

Dangote problem is legion, but here's a few bit of the more obvious ones you should know---- Non Transparent dealings, political patronage instead of business innovation, strangulation of Competitors, Shady JV with Nigerian Gov agencies, One man controlled business empire, over exposure in his quest to diversify into Petroleum Refinery, etc.

Remember in one of my earlier Thread here on nairaland, I said, Quote, " Dr Innocent Chukwuma, MD CEO of Innoson Motors is, might be Richer than Dangote!". It's fact. It's one of the stuff I uncovered in my previous research. I was actually wondering if people would believe me if I tell them. It wasn't even up to one week, what my source told me in New York is been revealed by Fitch. Some of the things I uncover in my business research is mind boggling. I'm scared sometimes to make public posts about it! Only to those who paid me for such Research. I'm a honest man I tell you my friend.

There's nothing the West hates like a cooked book, a Business that rides on political patronage or an all powerful one man controlled business! It's opposite of all they stand for.

If the Ambani brother in India can go Burst, Dangote should not surprise any economic observer. Like all businesses built by political patronage, unfair trade practices, political strangulation of other competition, so also, it's doomed to fail at some point in time.

For leaking this confidential information that Nigerian born wealthy man Dangote is broke, and cap in hand begging for loans from fellow Rich men, to complete his Refinery in Lagos, even though they have put in some bits of dollars, I can confidentially tell you that there's a gun to Dangote head......not by bandits or kidnappers but by his fellow Rich men. Dilute your holdings/Shares or go burst!
They have cut him to size. They're humiliating him. They are devaluing him. For lying to them all these while that infact he is a Rich man! Whereas he's just one lucky bunch of motherfucker privileged to have idiots running the largest economy in Africa. Hahahaha. Forgive my words! Americans are crazy when they discover some things they hate. That's why I'm very transparent in all my dealings.
I can imagine Dangote living on less than $2 per day in Kano. Damnit!

The West is not Nigeria, where he can put a call to the President, his kinsman, and the non independent, fiscally irresponsible Governor of Central Bank, Emefiele Godwin, would push Dollars through the back door to him. At the detriment of the larger economy. Now there's no dollar to push out anymore because it has dried up! Lala lala Lulu lala!! The weather is bit hot here today, no need for a cup of coffee!

I can imagine what the West would uncover if they request for a Transparent Audit of Nigeria Central Bank Under Emefiele Godwin. That man is fiscally irresponsible to a fault, & politically active to be a Governor of a supposed independent body like a Central Bank.

Let me tell you this. Dangote, and a host of other Nigerians who rides on political patronage for their status are directly responsible for the depression of the Nigeria economy when they influenced the CBN gov policies on alternate FX rates.

The West are Keen on rebuilding the world's economy shattered by Covid19 pandemic and Russian-ukrainian war in Europe. Nigerian economy can create some shocks for them if people like Dangote are not sanctioned or made to be more competitive and Transparent. This can not be achieved if he alone; Dangote, controls Dangote Group! The West can not afford another Venezuela in Africa! We are talking of 200 million people, and trillion of dollars in Oil & Gas infrastructures that would potentially loss 70% of their Value.

It's time for Nigerian Big man; Dangote to pay his debt to history!

BusinessRe: Thank You To Super Clients From Nigeria Who Ordered Our Business Support Service by Bigkoko(op): 7:47am On May 17, 2022
A big thank you to Miss Priti Prawag for your patronage! An all encompassing Feasibility is what we promise you!
We look forward to more patronage from your part of the world!

Thank you!

InvestmentRe: Second Quarter Promo Is Here: Act Now! by Bigkoko(op): 7:42am On May 17, 2022
These are actions you need to take:

1. Company Incorporation (Limited Liability Company). We can help register your Company even though you are yet to visit Rwanda. Three working days. The only Document from you we need is a copy of the bio page of the passport of the Director/Shareholder. One person is ok.

2. Feasibility Study (Any business of your choice). Currently at Promo price. We're on ground & gets the job done within four working days. Kigali, Musanze, Gisenyi, Rwamagana etc.

3. Product/Service Customization to suit the Rwandan market. With findings & inputs from no.2, and our huge experiences, we help you design Products & services that would be be accepted by the Rwanda-EAC market.

Y'all good to launch and reap benefits from the Rwandan & East Africa market!

Do this, and thank me later!
Our phone lines, office & email is open for your enquiries!

BusinessRe: Have Questions On Setting Up A Business/company In Rwanda? by Bigkoko(op): 7:38am On May 17, 2022
These are actions you need to take:

1. Company Incorporation (Limited Liability Company). Service charge is 28,000#/60,000Rwf. We can help register your Company even though you are yet to visit Rwanda. Three working days. The only Document from you we need is a copy of the bio page of the passport of the Director/Shareholder. One person is ok.

2. Feasibility Study (Any business of your choice). Currently at Promo price of 55,000#/120,000Rwf. We're on ground & gets the job done within four working days. Kigali, Musanze, Gisenyi, Rwamagana etc.

3. Product/Service Customization to suit the Rwandan market. Flat rate of 100,000#/210,000Rwf. With findings & inputs from no.2, and our huge experiences, we help you design Products & services that would be be accepted by the Rwanda-EAC market.

Y'all good to launch and reap benefits from the Rwandan & East Africa market!

Do this, and thank me later!
Our phone lines, office & email is open for your enquiries!

Muramuze!

BusinessRe: Have Questions On Setting Up A Business/company In Rwanda? by Bigkoko(op): 7:23am On May 17, 2022
Have questions about setting up a business in Rwanda? Ask us!

It's better you start now than later. The current favorable laws may change, Rwanda is getting a lot of international attention!

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