Nigerian billionaire Aliko Dangote said on Wednesday that his company had \u200bbought a 25% stake in Kenya \u200cPipeline Company\u00a0to move petroleum products.<\/p>\n
Industrialist Dangote last month broke ground on a 700,000-barrel-per-day oil \u200brefinery project in Kenya’s Lamu port.<\/p>\n
Africa’s \u200brichest man, Dangote already operates a \u2060similar-capacity refinery near Lagos, part of \u200ba sprawling business empire that also includes fertiliser, \u200bcement, sugar and more.<\/p>\n
Dangote announced the deal at the Financial Times Africa Summit in London.<\/p>\n
In a \u200bspeech on Tuesday, Kenyan President William \u200bRuto said private investors had bought a 25% \u200cstake \u2060in the country’s pipeline network from public entities but did not disclose who the buyers were.<\/p>\n
Earlier this year, the Kenyan \u200bgovernment sold \u200ba \u206065% stake in Kenya Pipeline Company via an initial public offering, \u200bits first major share sale in \u200btwo \u2060decades as it sought to raise revenue at a time of limited fiscal \u2060space.<\/p>\n","protected":false},"excerpt":{"rendered":"
Nigerian billionaire Aliko Dangote said on Wednesday that his company had \u200bbought a 25% stake in Kenya \u200cPipeline Company\u00a0to move petroleum products. Industrialist Dangote last month broke ground on a 700,000-barrel-per-day oil \u200brefinery project in Kenya’s Lamu port. Africa’s \u200brichest man, Dangote already operates a \u2060similar-capacity refinery near Lagos, part of \u200ba sprawling business empire […]<\/p>\n","protected":false},"author":6,"featured_media":16783,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":4,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_comment_section":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Reuters","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[29,2831,2362,27],"tags":[2099,4222,175],"class_list":["post-22349","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-africa","category-energy","category-featured","category-west-africa","tag-aliko-dangote","tag-dangote-petroleum-refinery","tag-nigeria"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/22349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=22349"}],"version-history":[{"count":1,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/22349\/revisions"}],"predecessor-version":[{"id":22350,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/22349\/revisions\/22350"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/16783"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=22349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=22349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=22349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}