Dangote Group Acquires Stake in Kenya’s Pipeline Network

Nigerian industrialist Aliko Dangote has acquired a 25% stake in Kenya Pipeline Company, which operates Kenya’s petroleum pipeline network. The purchase follows Kenyan President William Ruto’s statement that private investors had bought a quarter of the pipeline network from public entities, without naming them. The transaction comes as Kenya seeks to attract investment and raise revenue. Earlier this year, the government sold a 65% stake in the company through an initial public offering (IPO), marking the country’s first major share sale in two decades. Dangote is also expanding his energy interests in East Africa: last month, he broke ground on a refinery project in the port of Lamu designed to process 700,000 barrels per day.