JSE Listing Fuels Speculation Over Dangote’s South Africa Refinery Plans

Dangote Group’s speculated plan to invest in a refinery in South Africa has gathered pace following reports that the company is considering a secondary listing on the Johannesburg Stock Exchange (JSE).
However, there is currently no evidence that the group plans to develop or acquire refining assets in South Africa.
Reuters reported that the JSE confirmed that it has been engaging with Dangote Group and expects the company’s petroleum refinery business to list in Nigeria before seeking a listing in South Africa.
“They will list in Nigeria first but with strong intent to hopefully bring the listing to South Africa,” the JSE said in an emailed response to Reuters.
Reuters reported t...