Nigeria's Dangote Refinery Seeks to Raise $1.6 Billion From Retail Investors

Nigeria's Dangote refinery is aiming to raise $1.6 billion by opening itself to public ownership, according to a report broadcast by France 24.

The report said the refinery plans to draw funds from retail investors across the African continent as part of the initiative.

Details on the timeline, structure of the share offering, or the specific markets involved were not included in the broadcast segment.

The France 24 broadcast, which covered the Dangote refinery announcement alongside separate news items, also reported that Democratic Republic of Congo President Felix Tshisekedi had called on the National Service to clean up the streets of the capital, Kinshasa.

In addition, the broadcast noted that the Olympic flame had begun its tour of Senegal, with a month and a half remaining before the start of the Youth Olympic Games in the host country.

Further details on Dangote's fundraising plans were not immediately available.