Dangote

Tiger Brands, a South African consumer goods firm with a broad brand portfolio, is reported to be selling its struggling Nigerian venture to Dangote Industries as a result of nearly $120 million in write-downs. According to Fast Moving, Tiger Brands bought two-thirds of a stake in Dangote Flour Mills for almost $200 million from Aliko Dangote, however growing competition and currency devaluations saw the venture run into trouble. The Daily …