Tanzania's wealthiest businessman, Mohammed Dewji, has pledged to invest $100 million in Aliko Dangote's proposed $17 billion East African refinery, signaling strong investor confidence in what is set to become one of Africa's largest energy projects.
Dewji's Investment Offer and Location Preference
According to a Bloomberg report published on Friday, July 10, 2026, Dewji stated he would prefer the refinery to be built in Tanzania but remains open to backing the project even if it is ultimately developed in neighboring Kenya. Although he has not yet discussed the investment directly with Dangote, he intends to initiate talks soon.
“I would lean more toward Tanzania than Kenya,” Dewji said. “I will definitely reach out to him, and we can chat about it.” He emphasized that his interest in investing is not contingent on the refinery's final location.
Dangote's East Africa Refinery Plans
Dangote, Africa's richest businessman, recently announced plans to establish another mega refinery in East Africa, following the successful launch of his 650,000-barrels-per-day Dangote Petroleum Refinery in Lagos, Nigeria. The new facility is expected to cost approximately $17 billion and, once completed, will become the second-largest refinery in Africa, behind Dangote's Lagos refinery.
Dangote had initially considered Tanzania among possible locations, but Kenya's coastal town of Lamu emerged as the preferred site due to more favorable commercial and technical conditions, according to the billionaire.
Investor Interest Surges Ahead of Construction
The planned refinery has attracted attention from both regional and international investors even before construction begins. A senior executive at Dangote Industries confirmed that numerous investors have already expressed interest in participating in the landmark project.
“So many potential investors have been approaching us,” the company official said, underscoring the strong appetite for the refinery despite it still being in the planning phase.
Strategic Importance for East Africa
Kenyan President William Ruto has previously expressed optimism that construction of the refinery could begin this year, reinforcing Kenya's ambition to become a regional energy hub. The proposed refinery forms part of Dangote Industries' long-term expansion strategy aimed at increasing refining capacity across Africa, improving regional energy security, and reducing the continent's dependence on imported refined petroleum products.
If completed, the project is expected to boost fuel supply across East Africa, stimulate industrial development, and create thousands of direct and indirect jobs.
