Africa’s largest industrial project could receive another major financial boost as Tanzania’s richest businessman, Mohammed Dewji, has announced his willingness to invest up to $100 million in Aliko Dangote’s planned $17 billion refinery in East Africa.
Dewji revealed that he is interested in becoming part of the project, although he has not yet discussed the opportunity directly with Dangote. He explained that he would prefer the refinery to be built in Tanzania, but he is also open to investing if the project is eventually developed in neighbouring Kenya.
Aliko Dangote, Africa’s richest businessman, recently announced plans to build a second large-scale oil refinery in East Africa after the success of his 700,000-barrels-per-day refinery in Lagos, Nigeria. The new refinery is expected to improve fuel production across the region and reduce Africa’s dependence on imported petroleum products.
While Tanzania was initially considered as a possible location, Dangote later stated that Kenya’s coastal town of Lamu was chosen because it offers better commercial and technical advantages. However, he did not provide further details about the decision.
Speaking about his plans, Dewji said he intends to contact Dangote soon to discuss the investment opportunity. He noted that Tanzania remains his preferred location for the refinery, but stressed that he would still support the project if it moves forward in Kenya.
The proposed refinery has already attracted significant attention from investors across Africa and beyond. Reports indicate that many individuals and companies have shown interest in participating in the multi-billion-dollar development before construction begins.
A senior executive at Dangote Industries confirmed that several potential investors have approached the company, demonstrating growing confidence in the project and its future impact on Africa’s energy sector.
The refinery is expected to cost around $17 billion and, once completed, will become the second-largest refinery in Africa, behind Dangote’s refinery in Lagos. Kenya’s President, William Ruto, has also expressed confidence that construction could begin within the year.
Dangote’s Lagos refinery has transformed Nigeria’s oil industry since production began in 2024. The facility has reduced the country’s dependence on imported fuel while supplying petrol, diesel, aviation fuel and other refined products to Nigeria and several African nations.
Encouraged by that success, Dangote Industries is expanding its refining operations into East Africa. The company aims to strengthen regional energy security, increase local fuel production and encourage trade in refined petroleum products across the continent.
The planned refinery is also expected to create thousands of jobs, attract foreign investment and support economic growth in the host country. Industry experts believe the project could play a key role in improving Africa’s energy independence and reducing the continent’s reliance on imported fuel.
As investor interest continues to grow, the East African refinery is shaping up to become one of Africa’s most important industrial developments, with the potential to transform the region’s energy landscape for years to come.
