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The President argued that a lower valuation would have enabled intermediaries to acquire the shares cheaply and subsequently resell them to investors such as Dangote at a higher price
Mbadi said public officials should exercise caution when commenting on capital markets, arguing that negative political rhetoric could discourage both local and foreign investors from committing money to the country
Speaking at the groundbreaking ceremony in Mokowe, Lamu County, on Wednesday, Ruto said investors should be regarded as development partners and warned those he accused of using disputes and court cases to seek private negotiations with investors
Dangote Group President and Chief Executive Aliko Dangote made the announcement on Wednesday during the groundbreaking ceremony for the Sh2.2 trillion Dangote East Africa Refinery in Lamu, saying the company was ready to expand its investments into other areas that can support Africa’s growth.
President William Ruto is expected to lead the groundbreaking ceremony for the proposed Sh2 trillion East African Refinery in Lamu on September 30, 2026, with Dangote among the high-profile guests expected at the event.
President William Ruto is expected to lead the groundbreaking ceremony for the proposed Sh2 trillion East African Refinery in Lamu tomorrow, September 30, 2026 with Dangote among the high-profile guests expected at the event.
Nyoro said Kenya must create a predictable environment for both local and foreign investors, arguing that businesses should be allowed to operate within the law without interference from government officials.
The billionaire explained that he did not believe a son would necessarily perform better than his daughters, Fatima, Halima and Mariya
The month-long offer has already attracted interest from members of the public, with some investors using their savings to buy a stake in the facility.
Africa’s wealthiest business leaders have built vast fortunes across industries including manufacturing, retail, mining, and finance, with Nigerian industrialist Aliko Dangote leading the pack at an estimated $28.5 billion
The President said the planned refinery will serve Kenya, Ethiopia, South Sudan, Uganda, Tanzania, Rwanda, Burundi and the Democratic Republic of Congo, adding that the project is expected to open up thousands of employment opportunities for Kenyan youth.
The meeting focused on expanding collaboration in key sectors including energy, manufacturing, ports, natural gas, fertiliser production, and infrastructure development, as Tanzania positions itself as a regional investment hub.