AFRICA’S RICHEST MAN DANGOTE ACQUIRES 25% STAKE IN KENYA’S OIL PIPELINE NETWORK
Nigerian billionaire and industrialist Aliko Dangote has announced the acquisition of a 25 percent stake in Kenya Pipeline Company, marking another major expansion of his business interests across Africa.
Dangote disclosed the investment during the Financial Times Africa Summit in London.
The acquisition is expected to strengthen the group’s presence in petroleum transportation and distribution within East Africa.
Kenya Pipeline Company operates infrastructure used to transport petroleum products, making it an important component of the country’s energy supply network.
The investment follows Dangote’s expansion plans in Kenya, including a proposed oil refinery project at the coastal port of Lamu.
Dangote already operates a major oil refinery in Nigeria and has extensive investments in cement, fertiliser and other industries.
The latest acquisition highlights growing interest in cross-border African investment and regional energy infrastructure.