Kenya: CPF Capital, Rmb Nigeria Open Dangote IPO to Kenyan Investors

What the report says

Kenyan institutional investors are now able to take part in the Dangote Petroleum Refinery & Petrochemicals initial public offering in Nigeria through CPF Capital & Advisory, after approval from Kenya’s Capital Markets Authority, according to Capital FM as republished by AllAfrica. The arrangement is being handled with Rand Merchant Bank Nigeria Limited, which provides the transaction pathway for eligible Kenyan investors through an approved cross-border structure.

The report says the CMA has placed CPF Capital among the licensed firms permitted to facilitate Kenyan participation in the Nigerian offer through correspondent arrangements with authorised transaction parties in Nigeria. CPF Group Managing Director Hosea Kili said the deal is intended to help channel African capital into African businesses, while CPF Capital Kenya Executive Director Mercy Thuo described the partnership as a structured route for institutional investors to access the offer.

Capital FM said the IPO opened on September 14, 2026 and is scheduled to close on October 13. The development reflects growing efforts to connect capital markets across African countries, allowing institutional investors to diversify beyond their home markets. The article also noted that Dangote’s Nigerian refinery is separate from a planned refinery project in Lamu, Kenya, which was launched by President William Ruto and Aliko Dangote on September 30.