CPF Capital, RMB Nigeria open Dangote IPO to Kenyan investors

Nairobi, Kenya - Kenyan institutional investors are now able to take part in the Dangote Petroleum Refinery & Petrochemicals Initial Public Offering (IPO) in Nigeria, thanks to a new arrangement approved by the Capital Markets Authority (CMA). CPF Capital & Advisory, in collaboration with Rand Merchant Bank Nigeria Limited (RMB Nigeria), is facilitating the purchase of shares by eligible Kenyan investors through a cross-border channel.

The CMA has recognized CPF Capital as one of the institutions authorized to support Kenyan investors' involvement in the offering via correspondent arrangements with authorized parties in Nigeria.

CPF Group Managing Director Dr. Hosea Kili emphasized that this partnership will enable African investors to invest in businesses across the continent. He stated, "Africa does not lack capital. Our role in this transaction reflects our commitment to deepening African capital markets and mobilizing institutional capital across borders, so that African investors play a meaningful role in directing capital towards transformative businesses and projects across our continent."

According to CPF Capital Kenya Executive Director Mercy Thuo, the agreement with RMB Nigeria offers Kenyan institutional investors a legitimate pathway to access the Nigerian IPO. She shared, "Our collaboration with Rand Merchant Bank Nigeria Limited (RMB Nigeria) provides institutional investors with a credible and well-structured route to participate in this landmark African transaction."

It is worth noting that Dangote's Nigerian refinery operates independently from the 700,000-barrel-per-day refinery in Lamu, which began construction on September 30 under the leadership of President William Ruto and Nigerian businessman Aliko Dangote.