Dangote Plans Public Ownership for Lamu Refinery in Kenya
Aliko Dangote, president and chief executive of Dangote Industries Limited, announced that all companies under the Dangote Group will eventually be opened to public ownership. Speaking at the “Dangote Petroleum Refinery IPO High Level Investor Engagement” in Nairobi, he emphasized that the ongoing public offer is aimed at democratizing wealth for Africans rather than raising cash.
Dangote stated that the Lamu refinery, once matured for public ownership, should be listed in Kenya instead of Nigeria. He expressed the ambition to create millions of African shareholders who would benefit from dividends and capital appreciation.
Additionally, he mentioned plans for a new shipping business and expanding fertilizer operations to be opened for public participation. Ugas Mohammed, chairman of Kenya’s Capital Markets Authority, noted significant interest from Kenyan investors in the Dangote Petroleum Refinery IPO, which opened on September 14.
He highlighted the need for deeper integration of African capital markets to facilitate cross-border investments.
Plus234Feed summary based on reporting from Leadership Newspaper. Read the original report below.
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