Rwanda has confirmed it is in early talks to acquire a stake in Aliko Dangote’s Ksh2 trillion oil refinery planned for Lamu, Kenya.
President Paul Kagame said negotiations remain at a preliminary stage, with Rwanda joining Kenya and Ethiopia as potential regional investors.
Governments across the region could collectively acquire a 30% stake in the refinery, valued at roughly Ksh194.2 billion.
Kenya has already pledged about Ksh64.7 billion, equivalent to $500 million, for its own share of the project.
The refinery is designed to process up to 700,000 barrels of crude oil every single day.
Rwanda views the investment as a route toward stronger energy security and deeper regional economic integration.
Tanzania and Uganda have separately signed a deal to build a rival refinery in Tanga, after Dangote chose Kenya instead.
Whether Uganda and Tanzania will also invest in the Lamu refinery remains unclear for now.
Their August agreement is expected to draw more than Ksh2.58 trillion, or $20 billion, in energy investment.
It covers a crude refinery, storage terminal, jetty and pipeline linking Tanga to Uganda.