Africa’s richest man Aliko Dangote quit the board of Dangote Flour Mills today, as the company now majority controlled by South Africa’s Tiger Brand faces an unertain future.
Dangote who holds a 10 percent equity stake in the company resigned along with three other directors,Olakunle Alake, Asue Ighodalo and Arnold Ekpe, following Tiger Brands’ announcement that it’s cutting off further financing of the troubled firm, which produces pasta and flour.
“Tiger Brands has decided not to provide further financial support with respect to its investment in Tiger Branded Consumer Goods plc of Nigeria,” the company said in a statement.
