Aliko Dangote, Africa’s wealthiest individual, is preparing for a significant financial event with the public listing of his Nigerian oil refinery business. This initial public offering on the Nigerian exchange, involving Dangote Petroleum Refinery and Petrochemicals, stands as the largest IPO in the continent’s history.
If the flotation proceeds as scheduled on Monday, Mr. Dangote's current net worth of $35 billion is projected to increase by two thirds. A successful public offering could add an additional $23 billion to his fortune, potentially raising his total wealth to nearly $60 billion.