Tanzanian Billionaire Dewji Signals Plan To Invest $100m in Dangote’s $17bn Kenya Refinery

Tanzanian billionaire and MeTL Group President Mohammed Dewji has

expressed interest in investing $100 million in Nigerian businessman Aliko

Dangote’s proposed $17 billion oil refinery in Kenya, as Dangote expands

his refining ambitions across Africa.

Dewji disclosed his interest during an interview on Thursday, July 9, 2026,

with his comments subsequently reported by Bloomberg on Friday, July 10.

He said he was interested in participating in the project even though he

would have preferred the refinery to be located in his home country,

Tanzania.

Dewji was quoted as saying, “I would lean more toward Tanzania than in

Kenya.” Despite his preference, he did not rule out investing if Dangote

proceeds with the project in Kenya.

The billionaire also said he had not yet finalized discussions with Dangote

regarding the proposed investment. He said he would “definitely reach out

to him and we can chat about it.” This means the reported $100 million is

currently an intended investment, rather than money that has already been

committed or transferred.

The development came shortly after Dangote's company confirmed that

Lamu, on Kenya's coast, had been selected as the site for the proposed

refinery. On July 8, 2026, reports said soil testing had begun at the location,

while design and engineering work were already underway.

The proposed facility is expected to have a refining capacity of

approximately 700,000 barrels of crude oil per day and could cost as much

as $17 billion. If completed, it would become one of Africa's largest refining

projects and Dangote's biggest refining venture outside Nigeria.

The choice of Kenya followed months of consideration between Kenya and

Tanzania. Dangote had previously indicated that Tanzania was among the

possible locations before the project moved towards Kenya.

On May 10, 2026, Dangote explained that he was leaning towards Kenya

because of its infrastructure and market. Speaking about Mombasa at the

time, he said, “I’m leaning more towards Mombasa because Mombasa has

a much larger, deeper port.” He also added, “Kenyans consume more. It’s a

bigger economy.

However, the project ultimately moved to Lamu, rather than Mombasa. On

July 8, Dangote Industries' Vice President for Oil and Gas, Devakumar

Edwin, confirmed that the site had been selected and that preliminary work

had started.

The refinery is expected to supply petroleum products to Kenya and

neighbouring East African countries, potentially reducing the region's

dependence on imported refined fuel. The project is also expected to

strengthen Dangote's growing presence in Africa's energy industry.

For Dewji, the proposed investment could provide an opportunity to

participate in a major African industrial project, even though the refinery will

not be located in Tanzania.

His interest also highlights the growing involvement of African private

investors in large-scale infrastructure and energy projects on the continent.

Rather than relying entirely on foreign capital, African business leaders are

increasingly looking towards major projects that could strengthen local

production and reduce dependence on imports.

For now, however, the $100 million remains a proposed investment, not a

completed deal. Dewji has expressed his willingness to participate and

indicated that he plans to speak further with Dangote.

If the investment eventually materialises and the refinery is completed, it

could become an important development in East Africa's energy sector and

another major chapter in Dangote's expanding industrial ambitions across

the continent.

© 2026 Aliu Azeema |

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