Africa’s richest man, Aliko Dangote, has acquired a 25% stake in Kenya Pipeline Company (KPC) in a transaction valued at approximately $327 million, expanding his investments in East Africa’s petroleum transportation and distribution sector.
Dangote disclosed the acquisition at an event in London on Wednesday, October 21, 2026, according to Bloomberg. He did not specify which of his companies purchased the stake.
“We bought 25% of their pipeline network for the distribution of petroleum products,” Dangote said.
The acquisition strengthens Dangote’s position in Kenya’s energy infrastructure market as he advances plans to build a $16 billion refinery in the country’s Lamu archipelago, complementing his existing refining operations in Nigeria.
Dangote’s Kenya Pipeline stake valued at $327 million
A report released by the Nairobi Securities Exchange on Monday indicated that Kenya Pipeline Company recorded a block transaction involving approximately 4.5 billion shares valued at 42.5 billion Kenyan shillings, equivalent to about $327.4 million.
The transaction comes after the Kenyan government sold 65% of its shares in the company through an initial public offering earlier in 2026, opening the state-owned petroleum infrastructure business to private investors.
KPC has an estimated market valuation of 163.9 billion Kenyan shillings, making the transaction a significant investment in the country’s energy distribution network.
The company operates a major petroleum transportation system linking the port of Mombasa to inland fuel markets and neighbouring East African countries.
Dangote’s $16 billion Kenyan Refinery
The pipeline acquisition comes as Kenya prepares to participate in Dangote’s proposed refinery project in Lamu, estimated to cost between $16 billion and $17 billion.
On September 30, 2026, President William Ruto announced plans for the Kenyan government to acquire an equity stake in the project through its National Infrastructure Fund.
The announcement was made during the refinery’s groundbreaking ceremony, with the investment expected to give Kenya a direct interest in a major industrial project intended to strengthen domestic refining capacity and regional petroleum supply.
Completion of the refinery is targeted for around 2030.
