How Dangote beat top oil firms to 24.7pc KPC stake

Nigerian billionaire Aliko Dangote snatched the Sh42.5 billion Kenya Pipeline Company (KPC) share purchase deal from global oil majors who dragged their feet when presented with the opportunity to acquire the 24.7 percent stake in the newly listed firm.

Mr Dangote, Africa’s richest man, reportedly caught competing investors, largely oil majors, off guard by swiftly accepting the offer to buy the KPC stake from parastatals, underscoring the tycoon’s decisiveness and ability to close deals quickly.