Fatima Dangote, Executive Director for Oil and Gas at the Dangote Group, says the planned initial public offering (IPO) of the Dangote refinery is a landmark for Africa’s industrial development, describing it as an opportunity to showcase the continent’s capacity to deliver world-class industrial projects.
Speaking in an interview with Bloomberg, Ms. Dangote said the IPO goes beyond raising capital, representing a broader story of Africa’s growing industrial strength and economic transformation.
She said the planned share offering would allow both African and international investors to participate in one of the continent’s largest industrial ventures.
“It is good that one of the biggest IPOs is about to happen in Africa,” she said, adding that broad participation by investors from Africa and beyond was central to the vision behind the listing.
According to her, the IPO is intended to demonstrate that Africa can conceive, finance and successfully execute mega industrial projects capable of competing on the global stage.
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“We are selling a story that Africa is able to industrialise at a global scale,” she said.
She added that the continent had demonstrated its ability to transform ambitious ideas into globally competitive industries through large-scale investments such as the Dangote refinery.
“Africa can conceive an idea, finance it and manage a mega project at a global level,” she noted.
Ms. Dangote said the listing was therefore not merely about selling shares but about reshaping global perceptions of Africa’s economic potential and industrial capabilities.
“It is not just about selling shares. It is showing the world that Africa has entered a new phase of industrialisation,” she said.
The planned IPO is expected to rank among the largest share offerings on the African continent and is seen as a significant milestone in attracting investment into Africa’s industrial and manufacturing sectors.
