Africa’s richest man, Aliko Dangote, is set to attract international and domestic investors to his refinery business by offering US dollar-denominated dividends as part of a planned public listing of a minority stake in the project.
The move is part of a strategy to float about 10 per cent of the Dangote Petroleum Refinery and Petrochemicals FZE across multiple African stock exchanges, a step designed to raise long-term capital for expansion and strengthen the company’s financial base.
Under the proposed arrangement, shareholders will receive dividends in US dollars, a structure aimed at boosting investor confidence amid persistent currency volatility in several African markets.
The company has appointed Stanbic IBTC Capital, Vetiva Advisory Services, and FirstCap as advisers for the planned listing, which could begin as early as May, pending regulatory approval.
Dangote indicated that the offer size could reach “as much as 10 per cent,” describing it as a key step in unlocking capital for the group’s next phase of industrial expansion.
The listing forms part of a broader $40 billion investment programme over the next five years, targeted at scaling refining and fertiliser capacity while expanding the group’s industrial footprint across Africa.
The refinery, with a capacity of 650,000 barrels per day, is currently the largest in Africa and has already begun reshaping regional fuel supply dynamics.
Its commissioning comes at a time of heightened global energy uncertainty, with geopolitical tensions affecting crude supply chains and increasing demand for alternative refining hubs.
The planned IPO is expected to be one of the largest equity market transactions in Africa, reflecting growing investor interest in large-scale industrial assets on the continent.
Dangote Refinery Plans Dollar Dividend Listing to Attract Global Investors
