โDavido you ripped me, You saw that I was in America, you invited me and gave me shoe. You didn't give me money. You didn't give me featuring, you used me to trendโ -Portable blows hot again on Davido
Nigerians woke up to news yesterday that Diaego, the parent company of Guinesss Nigeria, has sold 58% of its shareholding to a company known as the Tolaram Group for the sum of 103 billion naira ($70 million).
Tolaram already owns several popular Nigerian consumer products, including Indomie, Lush Hair extensions, Minimee, Dano Milk, Lekki Port, Hypo, Kelloggs, Colgate Mimie noodles, and Power Oil.
The announcement comes at a challenging time for Guinness Nigeria. The company recently reported a loss after tax of N61.7 billion for the nine months ending March 31, 2024, a stark contrast to the N5.9 billion profit in the same period the previous year.
Despite a 28% year-on-year revenue growth to N220.3 billion, significant foreign exchange losses totaling N83 billion and a pre-tax loss of N60.5 billion have severely impacted the companyโs financial health.
Maybe now that Dr. Arinze, a successful medical doctor in Canada who talked about Japa the other time, is saying the same thing about marriage and relationships abroad. Maybe you all will listen....
Anyways, in life, you either learn or Perish!!
Ekwusigom โ๏ธ