Dangote Refinery’s IPO Could Reprice African Capital Markets
Dangote Refinery could seek roughly $5 billion in an October IPO that may become Africa’s largest-ever listing. The opportunity is obvious: one of the world’s largest and newest refineries, positioned inside an African fuel market that has historically depended heavily on imports. The harder question is what investors should actually be willing to pay for it.
ET&A Research · 2 September 2026
Dangote Refinery is preparing to give African capital markets something they rarely encounter: a single industrial asset potentially valued in the tens of billions of dollars.
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