Ghana news briefing
Dangote to fund proposed Kenya refinery with cash, bonds and an IPO
By GhanaSummary Newsroom1 min read
Nigeria's Dangote Group plans to finance a proposed 700,000-barrel-per-day oil refinery in Kenya through internal cash flow, bonds and an initial public offering, a senior company executive told Reuters.
Built by Aliko Dangote, ranked as Africa's richest man by Forbes, the Lagos refinery had cost more than $20 billion by the time it began operating in 2024.
Devakumar said the refinery would be financed through a mix of internally generated cash, bonds and proceeds from a planned initial public offering.
This is a summary of the original articles listed below. Always read the source articles for the full context. GhanaSummary does not create or modify the news — we summarise and link to original publishers.
