Dangote Offers East African Countries a 30% Stake in New Refinery

Dangote offers East African countries a 30% stake in new refinery

Nigeria’s Dangote Group has offered East African countries a 30% stake in a new oil refinery planned in northern Kenya, Bloomberg reported. Ethiopia and Rwanda have already expressed an interest in investing in the facility in Lamu, according to Kenyan President William Ruto’s top economic advisor. The prospective 700,000 barrels-a-day oil site will cost the Dangote Group more than $15 billion to build. An initial public offering of the group’s …

Kagame says Rwanda considering investment in Dangote-backed oil refinery

President Paul Kagame said Rwanda would be happy to acquire a stake in Aliko Dangote’s planned oil refinery in East Africa, though talks are still in the early stages. ALSO REA...

Africa’s Richest Man Offers East African States 30% Stake in Planned $20 Billion Kenya Oil Refinery

Nigerian billionaire Aliko Dangote has offered East African countries a 30% stake in a planned oil refinery in Kenya, as Africa’s richest man seeks regional partners for a project that could reshape fuel supply across the continent.

Dangote offers East Africa nations 30% stake in new refinery - Inside Politics

Dangote Group has offered East African countries a 30% equity stake in the giant refinery planned for the region, according to Kenyan President William Ruto’s top economic adviser. Kenya’s 10% stake would be worth about $500 million, David Ndii told a capital markets forum in Nairobi late on Thursday, adding that Ethiopia and Rwanda have already shown interest. “The total for the region is about $1.5 billion,” he said. “I don’t actually see a ch…

Dangote Begins new refinery construction, offers three East African countries 30% stake

Aliko Dangote plans a $17 billion refinery expansion in Kenya, targeting East Africa’s energy market, with Kenya, Ethiopia, and Rwanda to invest $1.5 billion.