Africa’s largest lender, Standard Bank Group, has pledged to play a leading role in the planned public listing of the Dangote Petroleum Refinery, offering a major vote of confidence in what is expected to be one of the most closely watched corporate transactions in African markets.
The endorsement comes as the refinery achieved a significant operational milestone, recording performance test runs of 700,000 barrels of crude oil per day, exceeding its official nameplate capacity of 650,000 barrels per day.
The achievement strengthens the investment case for a facility that has rapidly emerged as one of the most influential energy assets on the continent.
The commitment was made during a visit by Standard Bank Group Chief Executive Officer Sim Tshabalala and senior executives to the Dangote Petroleum Refinery and Dangote Fertiliser complex in Lagos.
“We are here because the Dangote Group is a large and important global player and a significant force on the African continent,” Tshabalala said.
