Dangote picks Lamu for Sh2.2tn oil refinery project - July 2026

Africa's richest man, Aliko Dangote, has chosen Lamu County, Kenya, as the site for a proposed Sh2.2 trillion oil refinery, a massive project aimed at significantly boosting East Africa's petroleum processing capacity. Saudi Arabia's Mabani Aljazeera Holding Group has acquired a minority stake in the Jabali Towers mixed-use development at Tatu City, signaling growing foreign investment in Kenya's real estate sector. Separately, Kenya Electricity Transmission Company is reviving private power transmission deals worth up to KSh65 billion just months after the collapse of the controversial Adani deals.