Africa’s richest man, Aliko Dangote, has acquired a 25% stake in Kenya Pipeline Company (KPC) in a deal valued at approximately $327 million, expanding his investments in East Africa’s petroleum distribution infrastructure.
Dangote, the founder and Chief Executive Officer of Dangote Industries Limited, disclosed the acquisition during an event in London on Wednesday, October 21, 2026, according to Bloomberg.
The acquisition comes as the Nigerian industrialist develops a $16 billion oil refinery in Kenya’s Lamu archipelago, modelled after his 700,000-barrel-per-day refinery in Lagos.
However, Dangote did not disclose which of his companies acquired the stake.
Kenya Pipeline Company operates the country’s petroleum transportation and distribution network, serving as a major link between the coastal port of Mombasa and inland fuel markets.
The company was previously wholly owned by the Kenyan government until it sold 65% of its shares through an initial public offering (IPO) earlier in 2026, opening the business to private investors.
Dangote confirmed the acquisition, saying:
According to a report released by the Nairobi Securities Exchange on Monday, Kenya Pipeline recorded a block transaction involving approximately 4.5 billion shares valued at 42.5 billion Kenyan shillings ($327.4 million).
The company currently has a market valuation of approximately 163.9 billion shillings.
Kenya Pipeline Company was established in 1973 and commenced commercial operations in February 1978, growing into one of the country’s most important energy infrastructure operators.
According to information published on its official website, the company manages an extensive petroleum transportation system connecting Kenya’s coastal import facilities with major consumption centres across the country and neighbouring East African markets.
Dangote’s acquisition gives his business interests a significant stake in the infrastructure supporting Kenya’s petroleum supply chain, alongside his proposed investment in the country’s refining sector.
Dangote’s acquisition of a stake in Kenya Pipeline Company comes as the Kenyan government is also planning to acquire an equity interest in his proposed Lamu oil refinery.
The development also comes amid Dangote’s efforts to attract East African investors into his existing Nigerian refinery business.
Meanwhile, the Lamu refinery, which formally broke ground on September 30, 2026, is expected to cost between $16 billion and $17 billion, with completion targeted around 2030.
