Business
Oando Boss Wale Tinubu Shares Podium with other Top Executives at AAM 2024
The Group Chief Executive, Oando PLC, Mr. Jubril Adewale Tinubu, will on Friday 14th, June, 2024 speak at the ongoing Afreximbank Annual Meetings 2024 in Nassau, Bahamas.
The oil player will share insights on the vital role the private sector plays in transforming Afri-Caribbean opportunities into tangible realities.
From driving innovation and economic growth to forging sustainable partnerships, private enterprises are at the forefront of creating a prosperous future and empowering progress across regions.
This year, the AfriCaribbean Trade and Investment Forum (ACTIF2024) is incorporated fully within the Afreximbank Annual Meetings (AAM2024).
The Afreximbank Annual Meetings has become renowned as a uniquely multi-faceted event that cuts across the private/public sector with unmissable conferencing, deal-making, lobbying, entertainment and more. This year it forms Global Africa’s Greatest Gathering. At this momentous event, we anticipate welcoming several thousand attendees including African/Caribbean leaders and senior government officials, African and non-African policymakers, corporate and business leaders, bankers, entrepreneurs, academics and other thought leaders – with more than 60 speakers already confirmed.
The 3rd edition of the AfriCaribbean Trade and Investment Forum (ACTIF2024) explores the platform of Global Africa – to navigate new vistas for the Caribbean through African and global investments from across the diaspora; with more than 25 deals expected to be signed and new commercial and developmental initiatives to be announced.
Others expected to speak at the forum include KC, Prime Minister of the Commonwealth of The Bahamas, The Honourable Philip Davis, H.E. Dr. Irfaan Ali, Chairperson of the Conference of Heads of Government of the Caribbean Community (CARICOM) & President of Guyana, Honourable Mia Amor Mottley, Former President, Republic of Niger and Leader of the African Continental Free Trade Area (AfCFTA), President and Chairman of the Board of Directors, Afreximbank, H.E. Prof. Benedict Okechukwu Oramah, Dangote, Chairman and CEO, Dangote Group, Mr. Aliko Dangote, Executive Vice President Office (Global Trade Bank), Afreximbank, Mr. Haytham Elmaayergi, Chairman, Access Holdings; Mr. Aigboje Imoukhuede; Mr. Jeannel Wyclef Jean, an international musician, President and CEO; Corporate Council on Africa (CCA), Ms. Florizelle Liser, Former President, Federal Republic of Nigeria; H.E. Chief Olusegun Obasanjo, CEO, Fidelity Bank; Mrs. Nneka Onyeali-Ikpe, Co-Founder RePlant Advisors LLC and Chair, National Hemp Association; Mr. Geoff Whaling, Serena Williams; Tennis Champion and Founding Manager, Serena Ventures, among several others.
Tinubu Niger Delta summit opens in Port Harcourt as investors and policymakers gather to drive investment, innovation and industrial growth
Dangote Petroleum Refinery has set its initial public offering price at ₦525 per share, with the company seeking to raise about ₦2.15 trillion as it prepares to enter Nigeria’s public equities market.
The Securities and Exchange Commission has approved the offer for 4.1 billion ordinary shares at ₦525 each. If fully subscribed, the offer would generate approximately ₦2.15 trillion, equivalent to about $1.6 billion at current exchange rates.
The offering is expected to open on 14 September 2026, according to Aliko Dangote, the president of Dangote Industries. The planned sale is positioned to become one of the largest equity offerings in Africa.
The IPO marks a significant step in Dangote Group’s plans to broaden ownership of the refinery and raise additional capital for expansion.
The refinery currently has a stated processing capacity of 650,000 barrels of crude oil per day. Dangote has said the company plans to increase that capacity to 1.4 million barrels per day as part of its longer-term expansion strategy.
The planned share sale follows a $1 billion underwriting programme completed in August, providing additional financial backing ahead of the public offering.
The refinery, located in the Lekki area of Lagos State, is one of Africa’s largest industrial projects and has become an increasingly important player in Nigeria’s fuel supply market since beginning operations.
The public offering will give Nigerian investors an opportunity to acquire shares in the refinery directly, while providing Dangote Petroleum Refinery with fresh capital to support its next phase of growth.
The company has also indicated ambitions to expand beyond its current Nigerian operations, with Dangote recently announcing plans for another refinery project in Kenya.
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