Jul 10, 2026

Tanzanian Billionaire Pledges $100 Million for Dangote’s Ambitious Kenya Oil Refinery

By Afolabi Idowu Olaiya in world

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LAGOS, Nigeria — In a significant boost to intra-African investment and industrial collaboration, Tanzanian billionaire Mohammed Dewji has publicly offered to commit $100 million toward Aliko Dangote’s proposed mega oil refinery in Kenya.

The announcement underscores growing private sector enthusiasm for Dangote’s ambitious push to extend his refining footprint across the continent.

According to a Bloomberg report highlighted by TheCable on Friday, July 10, 2026, Dewji — president of the MeTL Group and one of East Africa’s most prominent business leaders — confirmed discussions with the Nigerian industrialist.

While expressing a personal preference for the project to be sited in Tanzania, Dewji affirmed his willingness to invest substantially in the Kenya venture.

The proposed Kenya refinery, estimated at up to $17 billion and with a capacity of 700,000 barrels per day, is poised to become East Africa’s largest.

Located in Lamu, the facility aims to serve not only Kenya but also neighboring countries including Uganda, Tanzania, South Sudan, and beyond — dramatically reducing the region’s heavy reliance on imported refined petroleum products.

This project forms a key pillar of Dangote’s broader continental strategy. Combined with expansions in Nigeria (targeting 1.4 million barrels per day), his group’s total refining capacity could reach 2.1 million barrels per day, positioning Dangote Industries as a major player in Africa’s energy security and industrialization drive.

Preliminary works, including soil tests and design engineering, are already underway in Lamu. Construction could span three to five years once full financing and approvals are secured.

Kenyan President William Ruto has welcomed the investment, establishing a coordination committee, though local stakeholders in Lamu continue to advocate for community involvement regarding land, jobs, and environmental safeguards.

Dewji’s $100 million pledge carries symbolic and practical weight. As a successful industrialist with extensive operations across East Africa, his participation signals strong regional buy-in and could help attract additional investors.

His candid preference for Tanzania highlights healthy competition among East African nations for such transformative projects, while ultimately prioritizing the broader goal of regional energy independence.

Aliko Dangote, Africa’s richest man, has built a reputation for delivering large-scale industrial projects that challenge import dependency.

His Lagos refinery — now operational and undergoing expansions — has already disrupted traditional fuel supply chains in West Africa.

The Kenya move represents a strategic eastward leap, potentially fostering stronger economic ties between West and East Africa.

This development arrives at a time when African leaders and businesses are increasingly emphasizing intra-continental trade and investment under the African Continental Free Trade Area (AfCFTA) framework.

A successful Kenya refinery could create thousands of jobs, enhance energy security, stabilize fuel prices, and stimulate downstream industries across the region.

For Nigeria, it further burnishes Dangote’s image as a pan-African champion of industrialization. For Kenya and East Africa, it promises reduced forex outflows on fuel imports and greater self-reliance in a critical sector.

As negotiations and groundwork progress, all eyes will be on how this high-profile collaboration navigates financing challenges, regulatory hurdles, and community expectations.

Mohammed Dewji’s commitment adds momentum to what could become one of the most transformative infrastructure projects in East Africa’s recent history.

In the words of those following Africa’s industrial rise, big dreams require bold partnerships — and this latest chapter between two of the continent’s leading entrepreneurs exemplifies exactly that spirit.