Tanzania’s Richest Businessman Mohammed Dewji Eyes $100 Million Investment in Dangote’s Planned $17 Billion East African Refinery

Tanzania’s richest businessman, Mohammed Dewji, has revealed his intention to invest up to $100 million in Aliko Dangote’s proposed $17 billion refinery project in East Africa, signaling growing confidence in what is expected to become one of the continent’s largest energy investments.

Speaking in an interview with Bloomberg, Dewji said he is eager to become part of the landmark project, although he would prefer the refinery to be built in Tanzania. Despite that preference, he emphasized that his willingness to invest would remain unchanged even if Dangote proceeds with plans to establish the facility in neighboring Kenya.

Africa’s richest man, Aliko Dangote, recently announced plans to replicate the success of his world-class 700,000-barrels-per-day Dangote Petroleum Refinery in Lagos by developing another large-scale refinery on Africa’s eastern coast. The ambitious project is expected to strengthen fuel production across the region while reducing the continent’s dependence on imported refined petroleum products.

Although Tanzania was initially considered a possible location for the refinery, Dangote has since indicated that Kenya’s coastal town of Lamu currently offers the most suitable commercial and technical conditions for the development. He, however, did not disclose the specific factors behind the decision.

Dewji acknowledged that he has not yet discussed the investment opportunity directly with Dangote but plans to do so in the near future. He reiterated that Tanzania remains his preferred location for the refinery but stressed that he would still be interested in supporting the project if it is eventually constructed in Kenya.

According to Bloomberg, interest in the proposed refinery has continued to grow, with investors from across Africa and beyond expressing a desire to participate before construction begins. A senior executive at Dangote Industries confirmed that numerous potential investors have already approached the company regarding possible partnerships.

The planned refinery is projected to cost approximately $17 billion and, once completed, will become Africa’s second-largest refinery after Dangote’s flagship facility in Lagos, Nigeria. Kenyan President William Ruto has previously expressed optimism that construction of the project could begin this year.

Dangote’s refinery in Lagos, which began operations in phases in 2024, has transformed Nigeria’s downstream petroleum industry by significantly reducing the country’s reliance on imported fuel. The refinery currently supplies petrol, diesel, aviation fuel, and other petroleum products to Nigeria and several other African markets, helping to improve energy security across the region.

Building on that success, Dangote Industries aims to expand its refining footprint into East Africa as part of a broader strategy to increase the continent’s refining capacity, strengthen regional energy security, encourage intra-African trade, and reduce dependence on imported refined fuels.

The proposed East African refinery is widely regarded as a strategic infrastructure project that could reshape the region’s energy landscape. With growing investor interest and strong regional support, the development is expected to play a significant role in improving fuel availability, boosting industrial growth, and advancing Africa’s long-term goal of achieving greater energy independence.

Mohammed Dewji’s planned investment further highlights the confidence major African business leaders have in Dangote’s vision, reinforcing expectations that the refinery could become another transformative project for the continent’s energy sector.