Dangote Plans 10% Refinery Stake Sale via IPO in 2026

The Dangote Group has announced plans to sell a 10% stake in its $20 billion refinery, which has a capacity of 650,000 barrels per day, through a Pan-African Initial Public Offering (IPO) scheduled for 2026. Alhaji Aliko Dangote revealed this strategy during an event organized by the Atlantic Council in Washington DC.

The share sale is intended to support long-term investments and enhance participation in African capital markets. Although specific financial details regarding the IPO have not been disclosed, it is noted that Dangote Petroleum Refinery Petrochem FZE will pay dividends to shareholders in US dollars.

The company has appointed Stanbic IBTC Capital Ltd, Vetiva Advisory Services Ltd, and FirstCap Ltd to advise on the proposed IPO. This initiative aligns with Dangote's broader strategy to invest $40 billion over five years to scale operations across refining, fertilizer production, and mining ventures in Africa.

Plans also include increasing fertilizer output and establishing potash and phosphate plants in the Democratic Republic of Congo and a copper refining project in Zambia.