Why Dangote’s Lamu venture is about Africa’s industrial future

When Aliko Dangote looks east, he sees more than an investment opportunity. He sees the chance to reshape Africa’s energy map. After transforming West Africa’s refining industry in Lagos, Africa’s richest industrialist is now eyeing Lamu as the site of a major downstream petroleum facility.

For Kenya, the proposed refinery is more than foreign direct investment. It is an opportunity to become East Africa’s industrial and logistics hub, while helping the region break a long-standing paradox: exporting crude oil only to import expensive refined fuel at a foreign exchange premium.