NGX Group and partners push cross‑border investment via Dangote refinery offer

NGX Group and partners convene in Cairo and Addis Ababa On 15 October 2026, Nigerian Exchange Group Plc (NGX Group) hosted meetings in Cairo, Egypt, and Addis Ababa, Ethiopia. The gatherings were organised in partnership with the Egyptian Exchange (EGX), the Ethiopian Securities Exchange (ESX) and the African Export‑Import Bank (Afreximbank). The purpose was to explore ways to improve cross‑border investment flows across African capital markets.

Focus on the Dangote refinery offer The discussions used the Dangote Petroleum Refinery and Petrochemicals FZE offer as a concrete example. The refinery, led by Aliko Dangote, is a large industrial project that could demonstrate how African capital can be directed toward growth‑oriented ventures on the continent. Participants examined how the offer could help overcome existing infrastructure barriers and create new channels for investment.

Strengthening market infrastructure NGX Group’s Group Managing Director and Chief Executive Officer, Temi Popoola, highlighted that while Africa possesses significant institutional capital—particularly within pension funds and insurance companies—current market infrastructure and cooperation are insufficient to channel these resources into cross‑border opportunities. The meetings aimed to identify practical steps for enhancing market connectivity, broadening investor participation, and mobilising capital for productive investment.

Collaboration among African exchanges The engagements brought together leaders from multiple exchanges, financial institutions and other capital‑market stakeholders. By sharing best practices and exploring joint initiatives, the participants sought to reduce structural barriers that have historically limited investment flows between African countries. The collaboration was seen as a step toward creating a more integrated continental market.

Dangote’s perspective on industrial investment Aliko Dangote, President and Chief Executive of Dangote Industries Limited, underscored the refinery’s role in boosting Africa’s productive capacity. He stressed the need for stronger channels that allow African capital to support large‑scale industrial projects, thereby reducing dependence on imports and fostering long‑term economic growth. Dangote also praised NGX Group for facilitating the dialogue among African exchanges.

Outlook for cross‑border investment The meetings concluded with a consensus that improved market infrastructure and institutional cooperation are essential for unlocking Africa’s institutional capital. By using the Dangote refinery offer as a test case, the partners aim to demonstrate how cross‑border investment can be streamlined and how such projects can serve as catalysts for broader economic development across the continent.