Dangote Petroleum Refinery and Petrochemicals (DRPR) says it decided to extend its IPO offer by two weeks to allow investors from more African countries to participate in what is expected to be the largest IPO in African history. The IPO opened on September 14 and closed on October 13. The IPO comprises 4.1 billion ordinary…
Nairobi — Billionaire industrialist Aliko Dangote has called for faster industrialisation across Africa, saying the continent must create jobs and economic opportunities to absorb its growing young population. Speaking on the inaugural episode of BBC Africa Enterprise shortly after the groundbreaking of his planned refinery in Lamu, Kenya, Dangote said African countries must shift from…
The two entrepreneurs represent distinct forms of business leadership, and governments must create the conditions for both to thrive. Africa’s development debate often pits traditional industrialisation through factories, refineries and ports against leapfrogging to a digital, technology-led future. The careers of two very different businessmen suggest this is a false choice. Aliko Dangote and Elon…
Africa’s drive for industrial self reliance received a major boost on Wednesday as Kenya President William Ruto and President/Chief Executive, Dangote Industries Limited, Aliko Dangote, joined African leaders to break ground on a $16 billion petroleum refinery and petrochemicals complex in Lamu, Kenya, designed to process 700,000 barrels of crude oil per day and serve…
Kenyan President William Ruto and Nigerian businessman Aliko Dangote on Wednesday, September 30, launched the construction of the Dangote East Africa Petroleum Refinery, a $16 billion project (Rwf23.6 trillion) set to transform the energy and industrial landscape of Kenya and the region. ALSO READ: Kagame says Rwanda considering investment in Dangote-backed oil refinery Ruto and…
Dangote Group and Ethiopian Investment Holdings will invest $660 million in a petroleum-products pipeline connecting landlocked Ethiopia with Djibouti’s coast, adding new fuel storage and transport infrastructure to one of East Africa’s main trade corridors. The project was announced by Ethiopian Prime Minister Abiy Ahmed alongside Djibouti President Ismail Omar Guelleh and Aliko Dangote. The…
Dangote Petroleum Refinery opened its initial public offering on September 14, starting a share sale that could raise ₦2.15 trillion, or about $1.6 billion, in Africa’s largest IPO. The company is offering 4.1 billion shares at ₦525 each. The offer closes October 13, with trading on the Nigerian Exchange expected to begin in November. The…
When conversations turn to investment in Africa, one name consistently dominates the discussion: Aliko Dangote. Over the past four decades, the Nigerian industrialist has become more than Africa’s richest businessman – he has emerged as one of the continent’s most influential advocates for industrialisation, value addition and economic self-reliance. His investments tell a story that…
Dangote Petroleum Refinery has filed an initial public offering application with Nigeria’s Securities and Exchange Commission, moving the company closer to a listing on the Nigerian Exchange. SEC Director-General Emomotimi Agama said the refinery’s advisers are working with the regulator and that the company is targeting September 2026. No offer or listing date has been…
Dangote Petroleum Refinery has raised about $2.5 billion through a private equity placement that was oversubscribed by 3.7 times, with the proceeds to fund expansion and strengthen its capital structure. Dangote Petroleum Refinery and Petrochemicals has raised approximately $2.5 billion in fresh equity after successfully concluding a private placement that was 3.7 times oversubscribed, the…
