Kenyans can now invest in the Dangote Petroleum Refinery after Africa’s largest oil refinery opened its initial public offering (IPO), allowing retail investors to buy shares through their mobile phones.
The offer, which opened on September 14, 2026, will run until October 13, giving investors nearly a month to submit applications.
Nigerian billionaire Aliko Dangote is offering about three per cent of the refinery to the public in a share sale targeting up to $2.1 billion (about Sh272 billion). If fully subscribed, the transaction would rank among the largest initial public offerings on the African continent.
Each share has been priced at ₦525. Kenyan investors can apply for a minimum of 10 shares, with additional applications made in multiples of 10. Based on the indicative exchange rate provided in the offer guide, the minimum investment is approximately Sh550.
The funds raised will help finance the refinery’s expansion plans. Dangote Group intends to double the facility’s processing capacity to 1.4 million barrels of crude oil per day over the next three years.
The share sale will also support the group’s plans to increase its ownership of the refinery and strengthen its access to capital markets in the future.
How Kenyans can invest in the Dangote IPO
Kenyans seeking to participate in the offer can apply through MyStock Africa using a mobile phone.
The first step is to open an account on the platform and deposit funds in Kenyan shillings. The money is then converted into US dollars before the investor selects the Dangote IPO.
The investor can subsequently indicate the number of shares they wish to purchase, subject to the minimum requirement of 10 shares and the stipulated multiples for additional applications.
Once the application is submitted, the funds are held in escrow while the allocation process is completed. Applying for a particular number of shares, however, does not guarantee that the investor will receive the full amount requested.
If demand exceeds the number of shares available, the IPO will be oversubscribed and investors may receive a smaller allocation than they applied for.
Any money left over because of a reduced allocation will be returned to the investor’s MyStock Africa wallet.
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