Madar (Nairobi) - Nigerian billionaire Aliko Dangote said on Wednesday, October 21, 2026, that his group had acquired a stake in Kenya Pipeline Company (KPC), which transports petroleum products, AFP and Africanews reported.
Kenya's Capital FM said the stake amounts to 24.76 percent and is valued at about Sh42.5 billion, covering 4.5 billion shares previously held by state institutions including the National Social Security Fund and the Unclaimed Financial Assets Authority. Citing Bloomberg, it said Dangote announced the deal in London, saying the investment would support the distribution of petroleum products.
Kenyan President William Ruto had mentioned in a speech on Tuesday an investment in the network by private investors without naming them. The deal follows KPC's initial public offering earlier this year, when the government stepped in to buy shares amid low uptake from private investors.
Last month Dangote and Ruto broke ground on a planned refinery at Kenya's Lamu port, estimated at $16 billion with a capacity of 700,000 barrels per day. It is expected to take 40 months to build and to supply Kenya and regional markets including Uganda and Tanzania. Dangote said at the time the project was part of efforts to stop the continent exporting raw materials and start selling finished products.
Dangote already operates a refinery of similar capacity near Lagos, Nigeria, and his group is also active in fertilisers, cement and sugar.
