Africa’s richest man, Aliko Dangote, has built a multi-billion-dollar investment portfolio spanning several countries and industries, making him one of the continent’s biggest private investors.
Dangote Group has investments across more than 12 African countries, with its largest footprint being in cement manufacturing.
The conglomerate has also invested in sugar, fertilizer, oil refining, petrochemicals, food processing, logistics, power, pipelines and mining.
Aliko Dangote’s expansion across Africa could receive another major boost if the planned initial public offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE proceeds as scheduled.
The listing is expected to be the largest IPO in the history of the African capital markets, with the refinery valued at between US$40 billion (KSh5.18 trillion) and US$50 billion (KSh6.47 trillion).
The company is expected to list on the Nigerian Exchange Group’s main board between June and July 2026, with secondary listings on participating African stock exchanges to follow.
Aliko Dangote’s Investments in Africa
Located in the Lekki Free Zone near Lagos, Dangote Petroleum Refinery and Petrochemicals is the group’s flagship investment and the world’s largest single-train refinery.
Valued at more than US$20 billion, the facility has a processing capacity of 650,000 barrels of crude oil per day and is expected to significantly reduce Nigeria’s reliance on imported petroleum products.
The group also owns Dangote Cement Plc, Africa’s largest cement producer, with an annual production capacity of more than 48.6 million metric tonnes.
According to the company, the US$4 million project was completed in two phases, both of which were finished on schedule and under budget. Emergency repairs were completed on December 11, 2014, allowing the facility to remain operational during the critical winter period.
The company operates large-scale cement plants across several African countries, including its flagship facilities in Obajana and Ibese in Nigeria.
Another major investment is Dangote Fertilizer Limited, a US$2.5 billion plant in Lagos that produces three million tonnes of urea annually, making it one of the world’s largest fertiliser facilities and a key supplier to Nigeria’s agricultural sector.
The Dangote Group dominates Nigeria’s sugar industry through Dangote Sugar Refinery, the country’s largest sugar producer and refiner, which supplies major soft drink manufacturers, breweries, and confectionery companies.
Also Read: Why Dangote Overlooked Isiolo When Choosing Location of His Giant 700,000 bpd Single Train Refinery
His Investment in Kenya
Further, the group plans to finance a proposed 700,000-barrel-per-day oil refinery in Kenya using internal cash flows, bonds, and an initial public offering (IPO)
If completed, the refinery will be built on Lamu Island and is expected to become East Africa’s largest refining project, supplying refined petroleum products to Kenya and neighbouring countries while reducing the region’s dependence on imported fuels.
The project will also advance Aliko Dangote’s ambition to expand refining capacity across Africa following the launch of his 650,000-barrel-per-day Dangote Petroleum Refinery in Lagos, Nigeria.
The proposed Lamu refinery would mark the Dangote Group’s largest refining investment outside Nigeria and, based on its estimated value, would rank as Aliko Dangote’s second-largest investment in Africa, behind only the Dangote Petroleum Refinery and Petrochemicals in Lagos.
Also Read: Details of Ruto’s Phone Call with Dangote on Oil Refinery Project in East Africa
Other Investments
One of the Dangote Group’s largest investments is its fertilizer project in Ethiopia, where the company committed more than US$4 billion to develop a large-scale urea production facility.
The project was designed to produce three million metric tonnes of urea annually and included an 110-kilometer pipeline, a 120-megawatt power plant, a polypropylene packaging facility, and a two-million-tonne NPK blending plant.
Under the agreement, the Dangote Group held a 60 percent stake, while Ethiopian Investment Holdings owned the remaining 40 percent.
The Group also committed US$1 billion to a series of projects in Zimbabwe under an investment agreement with the government.
The planned investments covered cement production, power generation and fertilizer manufacturing, alongside a proposed 2,000-kilometer petroleum pipeline linking Walvis Bay in Namibia to Bulawayo in Zimbabwe through Botswana, with the aim of reducing fuel transportation and import costs.
Aliko has expanded its footprint in Tanzania through both existing industrial operations and proposed large-scale infrastructure projects. Among its key investments is the US$500 million Mtwara Cement Plant in southern Tanzania, which has an annual production capacity of three million tonnes and supplies both the domestic market and neighbouring countries.
The conglomerate has also held talks with the Tanzanian government on additional multibillion-dollar investments in sectors such as power, transport and agriculture, as it seeks to expand its presence in East Africa.
Cameroon is another key market in the Dangote Group’s African expansion.
The conglomerate invested in a 1.5 million-tonne cement grinding plant in Douala, which began operations in 2015, and has since unveiled plans to increase production to three million tonnes annually
Summary and key details
| Investment | Key Details |
|---|---|
| Dangote Petroleum Refinery and Petrochemicals (Nigeria) | Valued at more than US$20 billion, it is the world’s largest single-train refinery with a processing capacity of 650,000 barrels per day. It is the Dangote Group’s flagship investment. |
| Dangote Cement Plc (Nigeria and Africa) | Africa’s largest cement producer, with an annual production capacity of more than 48.6 million metric tonnes and manufacturing operations across several African countries. |
| Dangote Fertilizer Limited (Nigeria) | A US$2.5 billion fertiliser plant in Lagos that produces three million tonnes of urea annually, making it one of the world’s largest fertiliser facilities. |
| Dangote Sugar Refinery (Nigeria) | Nigeria’s largest sugar producer and refiner, supplying sugar to soft drink manufacturers, breweries and confectionery companies. |
| Proposed Lamu Oil Refinery (Kenya) | A planned 700,000-barrel-per-day refinery that would become East Africa’s largest refining project. If completed, it would rank as Dangote’s second-largest investment in Africa after the Lagos refinery. |
| Ethiopia Fertiliser Project | A more than US$4 billion investment designed to produce three million tonnes of urea annually. The project also includes a power plant, pipeline, packaging facility and NPK blending plant. |
| Zimbabwe Multi-sector Investment | A US$1 billion investment covering cement production, power generation, fertiliser manufacturing and a proposed 2,000-kilometre petroleum pipeline linking Namibia to Zimbabwe through Botswana. |
| Mtwara Cement Plant (Tanzania) | A US$500 million cement plant with an annual production capacity of three million tonnes, supplying both Tanzania and neighbouring countries. |
| Douala Cement Plant (Cameroon) | A 1.5 million-tonne cement grinding plant commissioned in 2015, with plans to double annual production capacity to three million tonnes. |
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PHOTO/ Dangote Group
