How Dangote beat top oil firms to 24.7pc KPC stake
Nigerian billionaire Aliko Dangote has acquired a 24.7 percent stake in the Kenya Pipeline Company (KPC) after outmaneuvering global oil majors. The deal was finalized quickly, highlighting Dangote's aggressive investment strategy in the East African market.
Why it matters
The acquisition significantly shifts the ownership structure of a key Kenyan infrastructure asset and signals growing influence from African industrial titans.
Nigerian billionaire Aliko Dangote snatched the Sh42.5 billion Kenya Pipeline Company (KPC) share purchase deal from global oil majors who dragged their feet when presented with the opportunity to acquire the 24.7 percent stake in the newly listed firm.
Mr Dangote, Africa’s richest man, reportedly caught competing investors, largely oil majors, off guard by swiftly accepting the offer to buy the KPC stake from parastatals, underscoring the tycoon’s decisiveness and ability to close deals quickly.
Such decisiveness has become a hallmark of shrewd investors, who have made fortunes by trusting their instincts and making bold calls when others hesitate.
The State-backed agencies, including National Social Security Fund (NSSF), Public Servants Pension Scheme, County Workers Pension Fund and Unclaimed Financial Assets Authority, had a combined stake of 38.35 percent.
Others are pension funds in parastatals such as Kenya Power, KPC and Kenya Ports Authority (KPA).
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