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Africa’s Richest Man Loses 3.5 Million Tires To Thieving Employees

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Mfonobong Nsehe
Mfonobong Nsehehttps://www.jozigist.co.za
Mfonobong Nsehe is currently Nigeria and Kenya advisor to Pilot Fish Media. He is also the CEO of Hodderway Group, a Kenyan-based private limited liability company focused on brokering and delivering attractive, large-ticket transactions in Africa to select blue chip international investment partners. He travels extensively across Africa every year, meeting and interviewing the continent's wealthiest entrepreneurs and tallying their net-worth for Forbes' annual rankings of the World's Richest People and Africa's Richest People. He is also a contributing writer for Jozi Gist. You can follow him @MfonobongNsehe and on Linkedin

Dangote Group, the conglomerate owned by Africa’s richest man, Aliko Dangote, has announced that more than 3.5 million of its customized company tires have been stolen by rogue employees.

This was revealed by the Coordinator of Dangote Group’s National Patrol Unit, CP Abdullahi Magagi (retd) during a press conference in Lokoja on Sunday. The stolen tires could be worth more than $100 million.

According to Nigerian news sites Premium Times, Magagi, who warned Nigerians against buying the stolen tires, announced that more than 285 Dangote employees who are believed to have been involved in the theft are currently facing trial across the country, while 85 vulcanisers were on the run over the issue.

“Whoever is in possession of our tires are advised in their interest to return them quietly to the nearest police station or we will get them arrested and prosecute them,” Magagi urged.

“Dangote Group of Companies has gone tough on those buying the company’s tires. 285 commercial drivers and Dangote drivers are now languishing in jail for stealing tires. About 85 vulcanisers are already on the wanted list and in Kogi State alone we are trailing 32 vulcanisers, who have been buying the tires from our drivers,” Magagi said.

Magagi told journalists that the kingpin of the syndicate who often bought the stolen tires had been identified and that the suspect is about to be apprehended and prosecuted.

Magagi also disclosed that the Dangote Group has concluded plans to establish a tire manufacturing company in the country, and it would likely begin construction on the facility later this year.

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