Business
DANGOTE EXPANDS EASTWARD WITH 25% STAKE IN KENYA PIPELINE AS AFRICA’S RICHEST MAN BUILDS MASSIVE ENERGY EMPIRE ACROSS THE CONTINENT
Aliko Dangote has expanded his East African energy business by acquiring approximately 25 per cent of Kenya Pipeline Company, the strategic infrastructure operator responsible for transporting petroleum products across Kenya. Kenyan market records place the actual block at roughly 24.76 per cent, with local reports valuing the shares at about Sh42.5 billion. The acquisition comes only weeks after Dangote broke ground on a $16 billion, 700,000-barrel-per-day refinery in Lamu, strengthening his ability to connect future fuel production with Kenya’s existing pipeline and storage network.
BigV•2h ago•1 min read