Dangote Refinery offers 20% of $1.6 billion IPO to East African investors
Dangote Petroleum Refinery & Petrochemicals FZE is offering investors in East Africa access to nearly 20% of its initial public offering, with the regional offer expected to raise as much as $300.4 million. The post Dangote Refinery offers 20% of $1.6 billion IPO to East African investors appeared first on Nairametrics .
Nairobi Senator Edwin Sifuna claims parliamentary "gatekeepers" are impeding scrutiny of the proposed Lamu refinery project. Sifuna submitted a formal request with the Senate on October 2, but fears it may be blocked before reaching the House floor. The senator's request seeks various details about the project, including financial models, ownership structure, environmental assessments and taxpayer contributions.
Sifuna criticizes President Ruto's advice to use "formal channels" for obtaining documents, arguing that his own request has already been lodged but risks being blocked. The Energy Committee, chaired by Elgeyo Marakwet Senator William Kisang, is yet to formally act on the statement. Sifuna's intervention comes as the Senate prepares to recess on October 9, raising questions about how quickly the committee will respond.
The $16 billion refinery project, officially launched on September 30, is set to process up to 700,000 barrels of crude oil daily and supply Kenya and regional markets. However, critics have demanded greater transparency regarding its ownership, financing and contractual arrangements.
Written by urgent.news from Capital FM Kenya's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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