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Dangote Offers East Africa Stake in Kenya Refinery
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Dangote Offers East Africa Stake in Kenya Refinery

By Moneyweb·Edited by Editor TO·

Dangote Group has offered East African countries a combined 30% equity stake in a planned refinery and petrochemical complex in Kenya, potentially giving regional governments a direct financial interest in the project. Aliko Dangote plans to build a facility modeled on his Nigerian refinery, with the Kenyan refinery itself expected to cost up to $16 billion and the broader project, including port infrastructure, estimated at roughly $20 billion. The facility is expected to process about 600,000 barrels of crude daily from Uganda and Kenya. Officials estimate the project could inject about $4 billion annually into Kenya’s economy and contribute significantly to GDP alongside other major industrial investments. Uganda remains undecided on participating, as it is pursuing its own refinery and a separate coastal oil hub project with Tanzania.