Dangote Group has offered East African countries a 30% equity stake in the giant refinery planned for the region, according to Kenyan President William Ruto's top economic adviser.
Kenya's 10% stake would be worth about $500 million, David Ndii told a capital markets forum in Nairobi late on Thursday, adding that Ethiopia and Rwanda have already shown interest.
The offer marks a significant step in regional energy cooperation, with the refinery expected to reduce dependence on imported petroleum products across East Africa.
Ndii emphasized the strategic importance of the project for Kenya's industrialization agenda and highlighted the potential for job creation and technology transfer.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing