Tanzania's Dewji eyes $100m stake in Dangote Kenya refinery
Tanzania's wealthiest businessman Mohammed Dewji has offered $100 million for Aliko Dangote's planned $17 billion Kenyan refinery, signaling strong investor appetite for a facility set to reshape East African fuel supply.
Mohammed Dewji has publicly offered to invest $100 million in Aliko Dangote’s planned $17 billion oil refinery in Kenya. The commitment from Tanzania’s richest man marks the first indication of interest from a major East African industrialist in the project, which is slated to become the continent’s second-largest fuel facility.
The planned refinery was originally slated for Tanga in northern Tanzania before Dangote shifted the site to Lamu, Kenya. He cited better commercial and technical advantages for the move. “I would lean more toward Tanzania than Kenya,” Dewji said. “Definitely reach out to him and we can chat about it.”
Despite the public offer, Dangote has not yet held talks with Dewji. The Tanzanian industrialist plans to contact the Nigerian billionaire directly to discuss the opportunity. A Dangote executive indicated that capital interest in the Kenyan project is robust. “So many potential investors have been approaching us,” the executive said.
For East African markets, the refinery represents a potential structural shift in regional energy dynamics. Kenyan President William Ruto has stated construction will begin this year. If built to the scale of Dangote’s flagship Lagos facility, the plant would significantly expand regional fuel refining capacity.
The Lagos complex currently processes 650,000 barrels of crude oil a day. It is undergoing an expansion to 1.4 million barrels, backed by a $4 billion syndicated financing package that includes $2.5 billion from the African Export Import Bank and a $400 million equipment agreement with Chinese manufacturer XCMG Construction Machinery.
Dangote is concurrently expanding its broader Tanzanian footprint despite relocating the refinery. The group is developing a seaport, a 2,000 megawatt coal-fired power plant, and a 40-kilometre concrete road, alongside plans for a special economic zone and a urea fertiliser plant. Dewji, who built MeTL Group into a sprawling regional conglomerate, could bring localized operational leverage to the Kenyan project if a deal materializes.
