![L-R: Managing Director, BGL Securities Limited, Arnold A. Dublin-Green; Assistant Vice President, Financial Derivatives Limited, Dr. Ifeoma Nwokolo; CEO, Centre for the Promotion of Private Enterprise [CPPE], Muda Yusuf (speaker); Chairman of the Occasion, Chief Paul Usoro; Dean, Lagos Business School, Information Systems, Prof. Olayinka David-West; Managing Director/CEO, Financial Derivatives Company, Bismarck Rewane; Group Chief Branding & Communications Officer, Dangote Industries Limited, Anthony Chiejina at Dangote Petroleum Refinery & Petrochemicals IPO Roadshow tagged “Back to where it all began” in Port Harcourt. Rivers State on Monday, October 12, 2026…](https://pmparrotng.com/wp-content/uploads/2026/10/Dangote-imagee-180x135.jpg "As Dangote Refinery’s IPO Nears Close, Small Investors Take Center Stage")
Nigerian billionaire Aliko Dangote has acquired a 25 per cent stake in Kenya Pipeline Company Limited (KPC) for about $327m, marking a major expansion of his group’s presence in East Africa’s petroleum distribution network.
Dangote, founder and chief executive of Dangote Industries Limited, disclosed at a business conference in London, saying his group had bought a quarter of the state-controlled company’s pipeline network, which transports petroleum products from the port of Mombasa to other parts of Kenya and neighbouring countries.
“We bought 25 percent of their pipeline network for the distribution of petroleum products,” he said, without disclosing the specific company within his conglomerate that made the purchase.
A report from the Nairobi Securities Exchange (NSE) on Monday showed a block transaction in KPC of about 4.5 billion shares, valued at KSh42.5 billion ($327.4 million). The company’s market valuation is about KSh163.9 billion.
KPC moves petroleum products from the port of Mombasa to inland markets. Its pipeline network runs about 1,342 kilometers and can handle an estimated 14 billion liters of products a year. It also supplies other East African countries.
The company was set up in 1973 and began commercial operations in February 1978. The Kenyan government owned it fully until it sold 65 percent of the shares in an initial public offering (IPO) earlier this year. KPC is now listed on the NSE.
The purchase follows Dangote’s $16 billion refinery project in Kenya’s Lamu archipelago, which is modelled on his 700,000-barrel-per-day refinery in Lagos. Construction formally began on September 30, with completion targeted around 2030. The project is expected to cost between $16 billion and $17 billion.
At the groundbreaking, President William Ruto said the Kenyan government plans to take an equity stake in the refinery through the National Infrastructure Fund.
Dangote is also courting East African investors for his Nigerian refinery. Dangote Petroleum Refinery & Petrochemicals FZE has offered them nearly 20 percent of its $1.6 billion IPO. The regional allocation is expected to raise up to $300.4 million. It covers about 729 million Global Depositary Receipts at KSh53.50 each, following approvals in Kenya and Uganda.
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