Africa's richest man resigns from Dangote Flour as Tiger Brands cuts funding - CNBC Africa

Africa's richest man resigns from Dangote Flour as Tiger Brands cuts funding

Western Africa

by Reuters 0

Aliko Dangote holds 10 percent of the company's equity in through Dangote Industries. Photo: Wikipedia

Africa's richest man Aliko Dangote and three other directors resigned from the board of Dangote Flour Mills on Monday as majority owner Tiger Brands cut funding support to its struggling Nigerian division.

South Africa's Tiger Brands said it was "currently exploring various alternatives with regard to its investment in Dangote Flour Mills, which also announced a change of name to Tiger Branded Consumer Goods Plc.

Aliko Dangote holds 10 percent of the company's equity in through Dangote Industries. The other directors who resigned are Olakunle Alake, Asue Ighodalo and Arnold Ekpe.

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