Dangote aims to expand its refining empire in Africa

Dangote Group plans to capitalize on the success of its Nigerian refinery by opening its capital to investors, potentially making it the largest IPO in Africa. The group is also considering building new refineries, storage terminals, and pipelines for fuel transportation across multiple African markets. This expansion faces challenges such as raising capital, managing currency risk, adapting to national regulations, and interconnecting energy infrastructure across borders. David Bird, CEO of Dangote Refinery, discussed these ambitions and the challenges of the upcoming IPO.