Africa's Richest Man ,Dangote To Build Refinery in Kenya -

Aliko Dangote, Africa’s wealthiest businessman plans to build a $17 billion oil refinery in Kenya, marking a significant step in addressing East Africa’s energy challenges.

The refinery proposed for Mombasa due to superior port infrastructure would have a production capacity of 650,000 barrels per day and reduce reliance on imported petroleum products. “I’m leaning more towards Mombasa because Mombasa has a much larger, deeper port,” Dangote said. He also pointed out Kenya’s larger economy and higher consumption of refined products, further strengthening the case for Mombasa as a strategic location. “Kenyans consume more. It’s a bigger economy,” he added.

Dangote’s move shifts regional strategy away from a joint Tanzanian project, aiming to strengthen energy security and expand his business empire.

He also pointed out Kenya’s larger economy and higher consumption of refined products, further strengthening the case for Mombasa as a strategic location. “Kenyans consume more. It’s a bigger economy,” he added

A Crucial Investment for East Africa

The proposed refinery, estimated at $15 billion to $17 billion would be one of the largest industrial investments in East Africa.

It would outshine Uganda’s partnership with UAE-based Alpha MBM Investments, which is developing a $4 billion, 60,000-barrel-per-day refinery in Kabaale, Hoima District, aiming for operations between late 2029 and early 2030.

Currently, East and Central Africa has only one operational refinery, a stark contrast to regions such as South Africa, which has seven refineries, North Africa with 21, and West Africa with 14.

While the proposed refinery will not match Dangote’s 650,000-barrel-per-day facility in Lagos, Nigeria, which is expanding to 1.4 million barrels per day, surpassing India’s Jamnagar Refinery; it would still make a significant contribution to addressing the region’s escalating energy needs.

https://youtu.be/3O1tzLvqdoo?t=142

Aliko Dangote to Build a Mega Oil Refinery in East Africa – YouTube

Source/Business Africa