Tanzania's richest businessman, Mohammed Dewji, has indicated his willingness to commit $100 million to the proposed $17 billion Dangote refinery project in East Africa, adding fresh momentum to plans for what could become the continent's second-largest refining facility.
Speaking in an interview with Bloomberg, Dewji said he favours Tanzania as the preferred location for the refinery but would still consider investing if the project proceeds in Kenya, where Dangote Industries has identified Lamu as its preferred site.
The investment proposal comes as Dangote Industries advances plans to establish a second mega refinery in Africa, following the success of its 700,000-barrels-per-day Lagos refinery, which has transformed Nigeria's fuel supply landscape and expanded exports of refined petroleum products across the continent.
Although Dewji said discussions with Aliko Dangote have not yet taken place, he confirmed his intention to initiate talks on participating in the project.
He noted that while his preference remains Tanzania, the investment opportunity extends beyond national boundaries, expressing readiness to back the refinery regardless of whether it is ultimately built in Kenya or elsewhere in East Africa.
The proposed refinery has continued to generate interest from potential investors ahead of construction. According to Bloomberg, a senior executive at Dangote Industries confirmed that numerous investors have approached the company seeking opportunities to participate in the development.
With an estimated cost of $17 billion, the refinery is expected to rank as Africa's second-largest upon completion, behind the existing Dangote Petroleum Refinery in Lagos.
Earlier this year, Dangote revealed plans to replicate the Nigerian refinery model in East Africa as part of a broader strategy to expand the continent's refining capacity, strengthen regional energy security and reduce dependence on imported petroleum products.
While Tanzania was initially considered among the possible host countries, Dangote later disclosed that Lamu, Kenya, had emerged as the preferred location based on commercial and technical considerations.
Kenyan President William Ruto has also expressed confidence that construction of the refinery could commence this year, reflecting growing regional support for the project.
The East African refinery forms part of Dangote Industries' wider expansion strategy aimed at increasing refining capacity across Africa, boosting intra-African trade in refined petroleum products and supporting the continent's long-term energy security objectives.