Dangote Intensifies Competition With BUA Foods, To Merge Sugar Refinery, Rice Firm With NASCON Allied

Africa’s richest man Aliko Dangote is planning a mega-merger of his sugar refinery, rice company, and NASCON Alliance, a move that may trigger fear among competitors like BUA Foods Plc.

Dangote Sugar Refinery a member of the Dangote Group said the company envisages a bigger future merging with the two other companies.

The company disclosed the plans on Tuesday in a regulatory filing seen by THE WHISTLER.

The sugar manufacturer said at the meeting held by the Board of Directors of the company on July 28, 2023, that it was resolved to “recommend the proposed merger between the Company, NASCON Allied Industries Plc and Dangote Rice Limited to the Shareholders of the Company for consideration and approval, subject to parties agreeing terms and conditions.”