CPF Capital opens Dangote refinery IPO to Kenyan institutional investors

The move follows approval by the Capital Markets Authority (CMA) allowing eligible Kenyan investors to participate in the Nigerian offering through licensed firms working with authorised transaction parties.

CPF Capital is among the firms confirmed by the regulator to be facilitating client participation through correspondent arrangements with authorised parties in Nigeria.

The approval provides Kenyan investors with a regulated route to access the landmark African listing while strengthening Kenya’s position as a regional hub for cross-border capital raising and investment.

CPF Group Managing Director Dr Hosea Kili said the transaction reflects the importance of mobilising African institutional capital to support businesses and projects across the continent.

“Africa does not lack capital. Our role in this transaction reflects our commitment to deepening African capital markets and mobilising institutional capital across borders, so that African investors play a meaningful role in directing capital towards transformative businesses and projects across our continent,” Kili said.

CPF Capital Kenya Executive Director Mercy Thuo said the partnership with RMB Nigeria would provide institutional investors with a structured channel to participate in the offering.

“Our collaboration with Rand Merchant Bank Nigeria Limited (RMB Nigeria) provides institutional investors with a credible and well-structured route to participate in this landmark African transaction. At CPF Capital, we are building a regional capital markets and investment advisory platform that connects African capital with African opportunities,” Thuo said.

“Our ambition is to strengthen these connections and help mobilise institutional capital towards the businesses and projects that will shape Africa’s economic future,” she added.

The DPRP IPO opened on September 14, 2026, and is scheduled to close on October 13, 2026.

The offering relates exclusively to Dangote Petroleum Refinery & Petrochemicals FZE in Nigeria and is separate from the proposed Dangote refinery project in Lamu County, Kenya.

CPF Capital said it would continue working with regulators and regional partners to expand African investors’ access to investment opportunities supporting the continent’s economic development.