Dangote Group seeks East African partners for 30% stake in Kenya refinery
Dangote Group has offered a 30% equity share in its planned 700,000-bpd refinery in Lamu, Kenya, to East African nations, with Ethiopia and Rwanda expressing interest.
The Nigerian conglomerate aims to build a $15 billion oil refinery in northern Kenya capable of processing 700,000 barrels daily. Kenya’s president’s chief economic adviser reported that Ethiopia and Rwanda are keen to acquire a 30 % stake, potentially raising up to $1.5 billion. Funding will also come from a Lagos IPO, and the project aligns with Aliko Dangote’s target of $100 billion in annual revenue by 2030.
Why it matters
The deal could bring billions of investment and boost energy self-sufficiency in East Africa.
In this story
Dangote Groupoil refineryEast Africa30% stake$15 billion700,000 barrels per dayAliko Dangoteinvestmentenergy security
