Another Top Rich Man in Africa Buys Shares in a Big Company in Kenya

Africa’s richest man, Aliko Dangote, has announced the acquisition of a 25% stake in Kenya Pipeline Company (KPC) for KSh 42.3 billion (USD 327 million), extending his group’s reach in East Africa’s petroleum sector.

Dangote, founder and chief executive of Dangote Industries Ltd., disclosed the deal himself at an event in London on Wednesday.

According to Bloomberg News, he said the group had bought 25% of the pipeline network for the distribution of petroleum products, without naming the entity in his conglomerate that completed the purchase.

KPC is a state-owned company that runs pipelines, storage terminals and related facilities moving petroleum products from the coast to domestic markets and landlocked neighbours.

The stake gives Dangote’s group direct access to a critical part of the region’s midstream fuel infrastructure. It could also serve as a distribution channel for products from his refinery in Nigeria, which has been scaling up production.

The deal builds on a growing presence in Kenya, led by the USD 16 billion Dangote East Africa Refinery in Lamu County. The 700,000-barrel-per-day facility broke ground on September 30, 2026, and has a target completion window of 40 months.

It is designed to supply gasoline, diesel and jet fuel to Kenya and neighbouring markets, and plans for the site include a 1,000-megawatt power plant as well as fertiliser and chemical facilities.

Dangote Industries is also in talks with the Kenyan government over an 800-kilometre crude oil pipeline from the Turkana oil fields to Lamu. Lamu Port has already received two batches of heavy construction equipment for the refinery, the latest in October 2026.

Not every plan has advanced. In September, Dangote Cement chief executive Arvind Pathak said the company would not build a new plant in Kenya in the medium term, citing difficulty finding suitable limestone reserves.

The details of the KPC transaction, the Dangote entity involved and any outstanding regulatory approvals have not been disclosed.

Source; https://www.facebook.com/share/p/17pAsNq6Rw/