From cement plants in Ethiopia and Tanzania to refineries in Nigeria and Kenya, Nigerian billionaire Aliko Dangote has spent the last two decades building one of the most ambitious business empires that Africa has ever seen.
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Construction begins on Wednesday of a $16-billion Kenyan oil refinery aimed at lowering East Africa’s fuel costs and saving the region hard currency used to import refined products.
Nigerian billionaire Aliko Dangote and Kenya’s President William Ruto have broken ground on a $16bn (£12bn) oil refinery in Lamu, on Kenya’s northern coast.
Nigeria’s fuel trade has undergone a dramatic reversal since the arrival of the Dangote refinery, with petroleum product exports surging more than seven-fold while seaborne imports have fallen to less than a third of their 2023 level.
