Kenyan investors seek access to Dangote Refinery IPO through NSE GDRs
Kenyan investors and capital market participants are seeking access to Dangote Refinery’s ongoing initial public offering through a proposed Global Depositary Receipt (GDR) listing on the Nairobi Securities Exchange (NSE). The post Kenyan investors seek access to Dangote Refinery IPO through NSE GDRs appeared first on Nairametrics .
Aliko Dangote has chosen Honeywell Technologies to provide engineering, licensing and equipment services for a planned 700,000-barrels-per-day (bpd) refinery in Kenya. The $16 billion project, set to be constructed in Lamu County, will supply diesel, petrol and jet fuel to the Kenyan market, with excess exports heading to other East African nations.
Conservationists and local landowners have challenged the project in court, though Dangote and Kenya's President William Ruto recently broke ground on site. Honeywell's involvement builds on its successful collaboration with Dangote's Nigerian refinery, where the US-based firm is aiding upgrades to boost capacity to 1.4 million bpd by 2028.
Honeywell's President Rajesh Gattupalli noted that their established relationship could expedite the Kenyan project. This partnership follows a similar agreement in November 2025 to expand Dangote's Lagos refinery to the same capacity. Despite legal hurdles, the groundbreaking ceremony proceeded in Kenya, with the refinery poised to serve both local and regional fuel markets as part of Dangote's global expansion strategy.
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- Dangote selects Honeywell for $16 billion Kenya refinery nairametrics.com
