Rwanda Explores Stake in Dangote’s Kenya Refinery

Rwanda has begun preliminary discussions about acquiring an equity stake in Nigerian industrialist Aliko Dangote’s proposed $16 billion refinery in Kenya. Rwanda’s President Paul Kagame, who announced the move, indicated that negotiations remain at an early stage. The development follows reports that Dangote is offering East African countries a combined 30% stake, with Kenya reportedly considering a 10% interest worth around $500 million. The regional investment pool is estimated at roughly $1.5 billion. The proposed refinery has shifted from Tanzania to Kenya, with Lamu now favored over Mombasa as the site. The refinery, expected to process up to 700,000 barrels of crude daily, would rival Dangote’s existing 650,000-barrel-per-day facility in Lagos. Once operational, the facility is expected to supply fuel to markets in the region, including Kenya, Uganda, South Sudan, Rwanda, and Ethiopia.