Dangote Refinery’s IPO opens with $49bn share capital The Dangote Petroleum Refinery and Petrochemicals (DPRP) has signed the registration documents for the biggest Initial Public Offering (IPO) in Africa, valued at approximately N2.2 trillion, about $1.6 billion. The IPO targets up to 10 million Nigerian investors, including low income earners, through a Bank Biometric Verification Number (BVN)-integrated subscription process. The President and Chief Executive of Dangote Pe

Rwanda is considering investing in a planned oil refinery in Kenya backed by Nigerian billionaire Aliko Dangote, as East African countries seek greater involvement in a project expected to significantly expand the region’s refining capacity. Kenya, Ethiopia and Rwanda have expressed interest in acquiring a combined 30% stake in the proposed refinery at Lamu, according to David Ndii, an economic adviser to Kenyan President William Ruto. The regional investment is estimated at