Dangote Refinery Seeks to Raise $1.6 Billion From Retail Investors
Nigeria's Dangote oil refinery is opening to public ownership, aiming to raise $1.6 billion from retail investors across Africa, according to a France 24 report.
Nigeria's Dangote oil refinery is moving to open itself to public ownership, with plans to raise $1.6 billion from retail investors across the African continent, France 24 reported.
According to the broadcaster, the fundraising effort would allow ordinary investors in multiple African countries to take a stake in the refinery, which is one of the continent's largest oil processing facilities.
France 24 did not provide additional details on the timeline of the offering, the specific mechanism for retail participation, or which countries would be included in the fundraising drive.
The report was part of a broader news segment that also touched on unrelated developments, including a call by Democratic Republic of Congo President Felix Tshisekedi for the National Service to help clean up the streets of Kinshasa, and the start of the Olympic flame's tour through Senegal ahead of the Youth Olympic Games, which the country is set to host in about a month and a half.
Sources
- Nigerian oil refinery Dangote aims to raise 1.6 billion dollars — France 24 — English
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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