Africa's richest and most powerful man, according Forbes, has resigned as Chief Executive Officer of his flour company, Dangote Flour Mills.
Aliko Dangote resigns from Dangote Flour
His resignation reportedly comes on the back of South Africa's Tiger Brands' withdrawal of investments in the Flour Mills. The company experienced a change of name to Tiger Branded Consumer Goods.
However the South African investors have announced their decision to pull out of the company, citing a personal need to " explore various alternatives with regard to their investment in Dangote Flour Mills",
Mr. Dangote holds 10 percent of the company's shares through his Dangote Industries, and his fourth in the company's top hierarchy to resign after Olakunle Alake, Asue Ighodalo and Arnold Ekpe.
Ranked by Forbes magazine as the 67th richest person in the world and the richest in Africa and recently named among top 100 powerful people in the world, Aliko Dangote’s company – the Dangote Group – is a diversified conglomerate, headquartered in Lagos, Nigeria, with interests across a range of sectors in Africa.Current interests include cement, sugar, flour, salt, pasta, beverages and real estate, with new projects in development in the oil and Natural gas, telecommunications, fertilizer and steel.The Dangote Group Nig. includes the following subsidiaries, among others:1. ALCO International Limited2. Dangote Nigeria Limited3. Dangote Transport Limited4. Dangote Cement Plc. – Listed on Nigeria Stock Exchange and accounts for over 60% of Dangote Group revenue.5. National Salt Company of Nigeria Plc. – Listed on Nigeria Stock Exchange6. Dangote Flour Mills Plc. – Listed on Nigeria Stock Exchange7. Dangote Sugar Refinery Plc. – Listed on Nigeria Stock Exchange8. Dangote Oil & Gas Industries International9. Dangote Textiles Limited10. Dangote Holdings Limited11. Blue Star Limited12. Dansa Foods Limited13. Dansa Food Processing Limited14. Dancom Technologies15. GreenView International Company Limited – invested US$28+ million in cement factory in Ghana.16. Sephaku Cement Limited – Dangote Group has 64% shareholding in this South African cement company.17. Alheri Engineering Limited18. Kura Holdings Limited
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