Flour Mills of Nigeria Plc, led by influential Greek mogul Coumantaros, has dramatically boosted its financial support to local suppliers, highlighting the growing linkages between overseas magnates and local Nigerian enterprises.
John Coumantaros, a Greek business mogul with a long history in Nigeria’s agro-allied sector, has long advocated for local collaborations.
His company, Flour Mills of Nigeria, paid out an astonishing $842 million to Nigerian suppliers this year.
This figure is a significant increase over the previous year’s total of $715.48 million, demonstrating the firm’s unwavering commitment to supporting local talent and entrepreneurs.
The company’s recently released 2021/2022 Sustainability Report, aptly titled “Building a Sustainable Future, Scaling Impact,” sheds light on this increased allocation.
It demonstrates the company’s commitment to developing local content through judicious procurement and a thorough backward integration program.
This commitment is more than simply numbers. The efforts of Flour Mills of Nigeria were recently recognized when they received the Sustainability, Enterprise, and Responsibility Award for exceptional supply chain management during the fiscal year 2020-2021.
This award recognizes the company’s outstanding strategy and commitment to strengthening local cooperation.
Coumantaros, a Greek entrepreneur, isn’t just about business; he’s about responsible business. Under his leadership, Flour Mills of Nigeria has demonstrated a strong commitment to environmental sustainability.
Thousands of metric tonnes of packaging materials were recycled across the company’s offices, demonstrating the company’s commitment to a cleaner planet.
