Aliko Dangote Resigns From Dangote Flours Mills Board of Directors As Investor Cuts Funding Support
Nov 17, 2015 – Aliko Dangote Resigns From Dangote Flours Mills Board of Directors As Investor Cuts Funding Support
The richest man in Africa, Alhaji Aliko Dangote, on monday along side three big wigs quit their position as members of the board of Dangote Flour Mills on Monday reducing their power as majority owners, Tiger Brands, cut funding support to its struggling Nigerian division.
South Africa’s Tiger Brands said it was “currently looking for alternatives” with regard to its investment in Dangote Flour Mills, which was renamed Tiger Branded Consumer Goods Plc.
Dangote holds 10 per cent of the company’s equity through Dangote Industries. The other directors who resigned are Olakunle Alake, Asue Ighodalo and Arnold Ekpe, according to Reuters.