Dangote’s Ethiopian Share Sale Runs Ahead of the Rulebook
According to Shega, Dangote’s refinery reported $1.82 billion in profit after tax in the first half of 2026, following losses in 2024 and 2025. The company is now seeking capital to help fund a $14.3 billion expansion that would lift refining capacity to 1.4 million barrels a day by 2029. In Ethiopia, the offer is restricted to 100 qualified investors unless the regulator approves more, and retail buyers are excluded.
What happened
Dangote’s refinery reported $1.82 billion in profit after tax in the first half of 2026, following losses in 2024 and 2025. The company is now seeking capital to help fund a $14.3 billion expansion that would lift refining capacity to 1.4 million barrels a day by 2029. In Ethiopia, the offer is restricted to 100 qualified investors unless the regulator approves more, and retail buyers are excluded.
Why it matters
No verified analysis is available for this report.
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