Dangote buys 25% stake in Kenya's oil pipeline network

Aliko Dangote said his company had bought a 25% stake in Kenya Pipeline Company (KPC) to transport petroleum products. He announced the deal on Wednesday at the Financial Times Africa Summit in London. Kenyan President William Ruto said on Tuesday that private investors had acquired the stake from public entities but did not identify the buyers. Earlier this year, the Kenyan government sold a 65% stake in KPC through an initial public offering as it sought to raise revenue.