marvinrovesms

A new chapter for Africa’s energy and industrial future begins in Lamu. Today, Afreximbank, represented by Dr @GeorgeElombi, President and Chairman of the Board of Directors, joined H.E. Dr William Samoei Ruto @WilliamsRuto, President of the Republic of Kenya, fellow African leaders and Mr Aliko Dangote @AlikoDangote, President and Chief Executive of Dangote Industries Limited @DangoteGroup, for the historic groundbreaking of the Dangote East Africa Refinery and Petrochemical Complex in Lamu, Kenya. The US$16 billion project, planned to process 700,000 barrels of crude oil per day, is expected to strengthen regional energy security, supply Kenya and neighbouring markets with African-refined petroleum products and create approximately 60,000 jobs. Its significance goes beyond refining capacity. At a time of geopolitical uncertainty and disruptions to global energy and shipping routes, the project represents the productive capacity Africa needs to process more of its resources locally, retain greater value, strengthen regional supply chains, and reduce dependence on imported refined products. For Afreximbank, it also reflects a wider ambition - moving Africa from exporting raw materials and importing finished products toward an economy that refines, manufactures, adds value, and trades more with itself. Afreximbank has been a longstanding partner of Kenya and the Dangote Industries Limited Group. In 2023, the Bank launched a US$3 billion Country Programme for Kenya to support priority public and private-sector investments. Since 2015, Afreximbank has also invested approximately US$15 billion in the Dangote Group, supporting its industrial expansion and productive capacity across the continent. The Lamu refinery shows what's possible when African governments, enterprises, and financial institutions work together to deliver strategic projects at scale - strengthening energy security, accelerating industrialisation, and expanding intra-African trade. #Afreximbank #Kenya #Lamu #Industrialisation #EnergySecurity #IntraAfricanTrade #Dangote #AfCFTA