How does Dangote Group plan to finance the proposed Kenya refinery?

Dangote Group plans to finance the proposed 700,000-barrel-per-day refinery in Kenya through a mix of internally generated cash, bonds, and proceeds from a planned initial public offering, according to Edwin Devakumar, Dangote Industries' vice president for oil and gas.

Where will the Kenya refinery be located, and why was Kenya chosen over other East African countries?

The refinery will be built on the island of Lamu, off the coast of Kenya; Kenya was selected from the beginning due to infrastructure, logistics, and market considerations, after Dangote previously considered Tanzania’s port city of Tanga but switched to Kenya for those strategic reasons.

Dangote to fund proposed Kenya refinery with cash, bonds and an IPO

Jul 7, 2026

Dangote Group plans to finance a 700,000-barrel-per-day oil refinery in Kenya via cash, bonds, and an IPO to reduce regional fuel imports. Located on Lamu island, this marks the company's largest refining investment outside Nigeria following its Lagos facility.

reuters

2026-06-04

Dangote Doubles Giant Oil Refinery Capacity, Plans Trading Push

2026-06-26

Projects: Thursday, June 25, 2026

2026-07-07

Dangote to fund proposed Kenya refinery with cash, bonds and an IPO

2026-08-20

Dangote Offers East African Nations 30% Stake in New Refinery

2026-09-08

Dangote's Proposed Kenyan Oil Refinery Faces Crude Supply Hurdles

Dangote to fund proposed Kenya refinery with cash, bonds and an IPO

FAQ