Aliko Dangote

Dangote Group CEO Aliko Dangote told a visiting Tanzanian delegation led by Minister of State Prof Kitila Mkumbo that the group is ready to expand investments in Tanzania, citing enormous investment potential, as part of its plan to invest up to $46 billion across Africa by 2030.

Dangote Petroleum Refinery formally completed a $2.5 billion private placement of early-stage shares with institutional private investors. The raise validated a valuation of about $40 billion for the plant, boosting investor confidence and cited as a catalyst for regional equity indices ahead of a planned IPO.

Dangote Refinery formally began pricing petroleum products in US dollars instead of local currencies, to manage FX volatility and crude procurement. The move protects margins and liquidity against local-currency depreciation (such as the naira), increasing appeal to foreign investors preparing for an IPO, while adding dollar-demand pressure on regional FX markets.

Aliko Dangote formally announced that his new East Africa oil refinery will be built in Lamu, Kenya — not Tanzania as earlier speculated. The plant will have capacity of 700,000 barrels per day. The decision ended months of rumour and drove heavy trading in Kenyan energy, infrastructure and construction stocks, with the Kenyan government allocating about KSh 21.5 billion as seed capital.

Aliko Dangote held investment talks with President Samia Suluhu Hassan at State House, covering port development, a 2,000MW power plant, urea fertiliser production, and transport infrastructure linking Mtwara with Mbamba Bay — building on Dangote's existing $500M cement plant in Mtwara.

Dangote Cement's Tanzanian operations delivered a solid performance in 2025, with sales volumes rising 16% year-on-year to 2.2 million tonnes from its 3Mta Mtwara plant, serving Tanzania and neighbouring export markets.