Aliko Dangote has offered East African governments a combined 30% stake in his planned Kenya oil refinery.
Kenyan presidential adviser David Ndii disclosed the offer on Thursday, at a capital markets forum in Nairobi. He said Kenya is considering a 10% stake, worth about $500 million. Ethiopia and Rwanda have also shown interest. The total regional offer is valued at $1.5 billion.
The refinery, which will cost around $16 billion and is planned for Lamu, Kenya, will process 700,000 barrels of crude daily.
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