Nairobi, October 22-Nigerian billionaire Aliko Dangote has acquired a 24.76 per cent stake in Kenya Pipeline Company (KPC), expanding his business interests in Kenya’s energy sector.
Dangote disclosed the investment in comments reported by Bloomberg while attending an event in London. He said he had purchased approximately a quarter of the company’s pipeline network, which distributes petroleum products.
The acquisition makes Dangote one of KPC’s largest shareholders and could give him a greater role in influencing the company’s strategic direction and future investments.
The transaction follows the sale of shares by several state-owned enterprises, less than eight months after KPC was listed on the Nairobi Securities Exchange through an initial public offering.
The investment marks a significant development in Kenya’s petroleum infrastructure sector, given the importance of pipeline transportation in moving fuel across the country and to regional markets.
Dangote, who heads the Dangote Group, has continued to expand his interests across Africa, particularly in manufacturing, refining and energy distribution.
His investment in KPC comes as the company seeks to strengthen its position in the regional petroleum supply chain.
The acquisition is expected to attract further attention to the role of private investors in strategic infrastructure and the future direction of Kenya’s energy industry.
