₦airaland Forum

soberdrunk:
When we tell them Dangote is not a "seasoned" entrepreneur, they will say it's "bad belle", "jealousy", they will say "what do you have", "are you rich" but isn't it becoming very obvious that all the sectors of of his business where he doesn't have "government induced monopolistic power" keeps packing up. First it was juice, then noodles, now flour......

Ode!

princeade86:
Pls how can I bid for it?

No need to bid, send d amount u fit afford to my account... Lobatan company is yours

Factfinder1:
Am paying for it first thing tomorrow morning....somebody say amen

Awon Believer...

Millz404:
Shut up. Do you know how many google projects failed and packed up... Did that make them less of a major business entity. People that know nothing about entrepreneurship always have some sh¡t to say

Let dangote write a book that will motivate young entrepreneurs like his fellow billionaires in the west do. Will he tell them to be close to the government in power to succeed in his book?

prince3009:
He should also sell his Noodles and Pasta manufacturing plant. His Noodles and Pasta taste like sh*t!

I think it has already been sold.

Realtord43:
wow, mayb i should buy these one.

I think we have to partner.40:40.20%for costs and depreciation.What do you think?

soberdrunk:
When we tell them Dangote is not a "seasoned" entrepreneur, they will say it's "bad belle", "jealousy", they will say "what do you have", "are you rich" but isn't it becoming very obvious that all the sectors of of his business where he doesn't have "government induced monopolistic power" keeps packing up. First it was juice, then noodles, now flour......

I tell you bro

chimjoshjuan:
Aliko Dangote is reportedly selling his loss-making business unit, Dangote Flour Mills to Olam International for N130 billion ($361.11 million). The sale of Dangote Flour Mills Plc for N130 billion ($361.11 million), was announced in a corporate disclosure posted on the Nigerian Stock Exchange (NSE) on Tuesday. According to Thabo Mabe, director at Dangote Flours, Olam International has indicated interest to acquire all the outstanding and issued shares of the flour mills company that are not currently owned by Ola through its subsidiary, Crown Flour Mills Limited.

“The total consideration offered by Olam and being considered by the Board of Dangote Flour Mills for the entire 5 billion issued shares of the company is N130 billion.

“The consideration represents the enterprise value on a debt-free, cash-free basis, payable in cash at the closing of the proposed transaction. This consideration will be adjusted for net working capital and net debt as of 31 March 2019 or any other later date that may be agreed by Olam and the Board of Dangote Flour Mills to arrive at the final price payable to equity shareholders.”


https://unclesuru.com/2019/04/23/dangote-is-selling-dangote-flour-mills-for-n130-billion-361-11-million/

Like I always say, Dangote isn't a real business man. All his businesses keep folding every year

cr7lomo:
U said it all...how can the richest man in Africa not have a thriving business outside Nigeria

Look at shop rite , multi choice, mtn....these are south African businesses thriving outside south Africa, that's hw u know a good business man... Dangote just de use Nigeria make real money due to the monopolistic nature of government help...

Bros, pay a visit to Cameroon. Just of the Duoala harbour is the most thriving cement factory there. The Dangote Cement Factory. You will be proud when you see multitudes of Cameroonian's wearing the Dangote shirt during lunch hour.

FYI, I don't work for Dangote, I'm in Big Oil :-) , but I admire the Nigerian spirit from afar...lol

soberdrunk:
When we tell them Dangote is not a "seasoned" entrepreneur, they will say it's "bad belle", "jealousy", they will say "what do you have", "are you rich" but isn't it becoming very obvious that all the sectors of of his business where he doesn't have "government induced monopolistic power" keeps packing up. First it was juice, then noodles, now flour......

I'm sure the reason is probably the higher import duty on wheat and the cassava flour content to be added to the flour content. He is cutting his losses.

Actually, the refinery project is one that is truly competitive and won't need government support to thrive.

ajalawole:
buhari effect

Nope

cr7lomo:
U said it all...how can the richest man in Africa not have a thriving business outside Nigeria

Look at shop rite , multi choice, mtn....these are south African businesses thriving outside south Africa, that's hw u know a good business man... Dangote just de use Nigeria make real money due to the monopolistic nature of government help...

d govt sold d patent right to him,and he renews it every 20yrs

But they said sugar is the commodity that is giving dangote more money than cement according to Forbes.

Legendguru:
dude said it all. without political backinga dangote would have just been like those ordinary business men out there from day one.its hard to make it and stay through in nigeria without getting hands dirty. the monopoly in cement with no solid competitors really help boost his business accross west africa .i hope he doesnt regret the refinery investment

He can't regret the refinery cos no competition there as far as Nigeria is concerned!

Benwems:
He is selling it before it's not as profitable as his cement business. Dangote does not joke with cement. He can dash you money but he can't dash you cement.

My brother you are right, I visited his Obajana cement plant and I was speech less... More than 2k trucks loads cement daily in that plant... But my worry is why the so much hunger in kogi when God has soo much blessed them?

By the time his refinery is completed, he would be ranked among the richest not just in Africa but the world.

soberdrunk:
When we tell them Dangote is not a "seasoned" entrepreneur, they will say it's "bad belle", "jealousy", they will say "what do you have", "are you rich" but isn't it becoming very obvious that all the sectors of of his business where he doesn't have "government induced monopolistic power" keeps packing up. First it was juice, then noodles, now flour......

abeg make we hear word u that is so good in entrepreneur show us ur Empire.

Please i need Good lawyer to help sign the papers inbox me your interest


And one accountant
50 motor boys

7Alexander:
Disturbing pattern. First it was the noodles, now this. I'm sure he knows best.

the problem of these business he is selling is not that there are no profit to be made... the reason is that the structure and management of the business is poor. the rate at which finished goods are diverted by top management to private store is mind boggling.

RexTramadol1:
Yes Olam International




Rockefeller can start chasing Mckenzie's sales

Gracias

Wiseoldman:
Bros, pay a visit to Cameroon. Just of the Duoala harbour is the most thriving cement factory there. The Dangote Cement Factory. You will be proud when you see multitudes of Cameroonian's wearing the Dangote shirt during lunch hour.

FYI, I don't work for Dangote, I'm in Big Oil :-) , but I admire the Nigerian spirit from afar...lol

Big oil? As in red oil or ground nut oil?

Dangote wan to CASH out.

Nawa for this economy .

Has anyone noticed that Dangote performs poorly when there's real competition?

Dangote pasta? Dangote noodles? Dansa juice? These are some of his subsidiaries that are performing/performed awfully bad and eventually sold off. Now, it is dangote flour mills

Campaign4truth:
Dangote is simply diversifying his business portfolio. The flour business must still be profitable to attract any investor at all. However it appears a lot is going into the Refinery and Tomato business, so it would make sense to let go of the weaker business to fund the "cash cow".

You have to leave us Nigerians, we cannot divest emotional or personal issues from speaking. First folly was the idea that the flour mill is loosing money, it is not as at early last year. It may have sustained a lower profit than the year before. But it does not look like it was loosing money. Second dangote seems to have left the sugar , salt and flour business to others to manage. It actually makes sense if you do not trust nigerians to manage it to sell it. He is highly diversified with the lekki project. The lekki project and cement seems to be what he actively or seems to actively manage. Ppl do not know that after a while a lot of successful businessmen in that country leave day to day running of the firm to executives while they handle social, political or economic relations.

soberdrunk:
When we tell them Dangote is not a "seasoned" entrepreneur, they will say it's "bad belle", "jealousy", they will say "what do you have", "are you rich" but isn't it becoming very obvious that all the sectors of of his business where he doesn't have "government induced monopolistic power" keeps packing up. First it was juice, then noodles, now flour......

BAD BELLE
JEALOUSY IS WHAT IS DOING YOU
BTW ...WHAT DO YOU HAVE
ARE YOU RICH

NOC1:
you lied bro, he started without political backing, before he came the likes of Ibru was in charge, other people like Eleganza and co was there. He sustained his bussines for him to be where he is today.
there is no successful bussines man (billionaire) without some dirty deals undertone.
Government in all countries ignore them because of the ripple effect on their economy if they go after them without a defined backup plan. All counties play a pivotal role in sustaining thier successful bussines men.

According to online report, he came top of the Africa's richest after 35yrs.of doggedness.
To be the no.1 richest in Africa is not cheap.He did paid all his dues.His great Uncle Alhaji Dantata who is late now,was the West Africa's richest in his own days.
He did borrowed Dangote his first one million. Dangote said in one of his many interviews, his first product was selling of sweet.

soberdrunk:
When we tell them Dangote is not a "seasoned" entrepreneur, they will say it's "bad belle", "jealousy", they will say "what do you have", "are you rich" but isn't it becoming very obvious that all the sectors of of his business where he doesn't have "government induced monopolistic power" keeps packing up. First it was juice, then noodles, now flour......

The only thriving business he has is the cement factory

soberdrunk:
When we tell them Dangote is not a "seasoned" entrepreneur, they will say it's "bad belle", "jealousy", they will say "what do you have", "are you rich" but isn't it becoming very obvious that all the sectors of of his business where he doesn't have "government induced monopolistic power" keeps packing up. First it was juice, then noodles, now flour......

You don't do business that you are not equipped to run

Dangote only make money from cement which is real gold to him.the rest is loss loss

Campaign4truth:
Dangote is simply diversifying his business portfolio. The flour business must still be profitable to attract any investor at all. However it appears a lot is going into the Refinery and Tomato business, so it would make sense to let go of the weaker business to fund the "cash cow".

God shower his blessings on you soonest for this comment of yours..... Waited tirelessly for someone to talk about this.... Thanks BRO

soberdrunk:
When we tell them Dangote is not a "seasoned" entrepreneur, they will say it's "bad belle", "jealousy", they will say "what do you have", "are you rich" but isn't it becoming very obvious that all the sectors of of his business where he doesn't have "government induced monopolistic power" keeps packing up. First it was juice, then noodles, now flour......

I am persuaded to agree. Why, for example, can't he compete with Indomie noodles in the noodles segment or with Chi in the juice segment? Why?

cr7lomo:
U said it all...how can the richest man in Africa not have a thriving business outside Nigeria

Look at shop rite , multi choice, mtn....these are south African businesses thriving outside south Africa, that's hw u know a good business man... Dangote just de use Nigeria make real money due to the monopolistic nature of government help...

seems u are under the rock. He has his cement business outside Nigeria.

Benin refused to let him in though.

Cement is his core business... The rest are just trial and error. Mark zuckerberg can't succeed in any other sector except Social Media related business... Cos his core business is social media