Business

NGX Group Promotes Dangote Refinery Offer to Investors in Egypt, Ethiopia

Published

3 weeks ago

October 18, 2026

Nigerian Exchange Group Plc (NGX Group) and its partners are advancing cross-border investment collaboration among African capital markets, with engagements in Cairo, Egypt, and Addis Ababa, Ethiopia, exploring how market infrastructure and institutional partnerships can improve investment access across the continent.

Using the Dangote Petroleum Refinery and Petrochemicals FZE offer as a practical context, the discussions focused on connecting investors across jurisdictions and mobilising African capital for industrial development.

Held on Thursday, 15 October 2026, the engagements were hosted in Cairo by the Egyptian Exchange (EGX), in collaboration with the African Export-Import Bank (Afreximbank), and in Addis Ababa by the Ethiopian Securities Exchange (ESX).

They brought together exchange leaders, financial institutions and other capital market stakeholders to explore practical approaches to improving market connectivity, broadening investor participation and mobilising African capital for productive investment.

Speaking during the discussions, Temi Popoola, Group Managing Director/Chief Executive Officer of NGX Group, emphasized the importance of addressing longstanding structural barriers that limit investment flows across African markets.

He noted that the continent possesses substantial pools of institutional capital, but stronger market infrastructure and cooperation are needed to connect these resources with investment opportunities across national borders. “Africa has substantial capital within its own markets, particularly across pension funds and insurance companies.
The challenge is how to connect that capital to investment opportunities across the continent.

The Dangote Refinery offer provides a practical opportunity to address some of the infrastructure barriers to cross-border investment. Beyond a single transaction, it is about creating connections that enable African capital to finance African growth,” Popoola said.

Aliko Dangote, President and Chief Executive of Dangote Industries Limited, highlighted the refinery as an example of the scale of industrial investment required to strengthen Africa’s productive capacity, reduce dependence on imports and support long-term economic growth.
He emphasised the importance of developing stronger channels through which African capital can support major industrial projects across the continent. He also commended NGX Group for its role in bringing African exchanges together around the initiative and acknowledged the participating exchanges for their collaboration.

Alhaji (Dr.) Umaru Kwairanga, Group Chairman of NGX Group stressed that lasting progress would depend on sustained institutional cooperation and the development of market infrastructure that makes cross-border investment more accessible and efficient. “Our task is not simply to collaborate around one offer, but to develop lasting partnerships that support cross-border investment and capital formation across Africa.
This requires cooperation among exchanges, regulators, financial institutions and businesses, alongside investment in the infrastructure and technology that make participation more accessible,” Kwairanga said.

At the Cairo engagement, Omar Radwan, Executive Chairman of the Egyptian Exchange, highlighted the potential for instruments such as Egyptian Depositary Receipts (EDRs) to provide a channel through which Egyptian investors could access selected African businesses. He expressed EGX’s readiness to work with Dangote Industries to explore a possible framework for such an arrangement.

Dr. George Elombi, President and Chairman of Afreximbank, reaffirmed the bank’s longstanding financing relationship with Dangote Industries and its commitment to supporting African industrial development. He highlighted the importance of mobilising African investment towards enterprises capable of contributing to the continent’s economic transformation.

In Addis Ababa, discussions focused on expanding investment opportunities for Ethiopian investors and strengthening Ethiopia’s participation in Africa’s evolving capital market landscape.

Yodit Kassa, Chief Executive Officer of ESX, welcomed the engagement, noting its significance for Ethiopian investors and the country’s growing capital market. “The Dangote Petroleum Refinery offer represents an important opportunity for Ethiopian investors to participate in the growth of one of Africa’s leading industrial enterprises. It also reflects the growing confidence in Ethiopia’s capital market and our readiness to work with leading institutions across the continent,” Kassa said.

The Cairo and Addis Ababa engagements followed earlier stops at the Nairobi Securities Exchange and the Botswana Stock Exchange, extending discussions on cross-border investment across multiple African markets. The discussions also highlighted the practical requirements for cross-border participation, including regulatory recognition, distribution, investor verification, settlement, custody and access to reliable information.
The offer provides a real-world opportunity for exchanges, regulators, intermediaries and financial technology platforms to address these considerations and explore workable solutions within their respective regulatory frameworks. For participating markets, it also raises the question of how local savings can be channelled more efficiently into productive enterprises across the continent.

NGX Group remains committed to working with partner exchanges and financial institutions to strengthen market infrastructure, expand cross-border investment access and advance collaboration among African capital markets, contributing to the continent’s long-term economic and industrial development.

The post NGX Group Promotes Dangote Refinery Offer to Investors in Egypt, Ethiopia appeared first on Business Today NG.

Related Topics:Dangote Egypt Ethiopia group investors NGX offer Promotes refinery

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Business

Baze University acquires two aircraft as founder expands aviation education

Published

15 hours ago

November 8, 2026

PlateauReports

WhatsApp Image 2026 11 07 at 17.32.15 1.jpeg

Baze University, Abuja, has acquired two training aircraft from Austria as it expands its investment in aviation education.

The aircraft arrived at the Nnamdi Azikiwe International Airport, Abuja, on Friday and received a traditional water cannon salute, according to reports by Nigerian media.

The university’s founding Pro-Chancellor, Datti Baba-Ahmed, disclosed the acquisition, saying it would strengthen Nigeria’s aviation training capacity and support the development of skilled professionals.

**Baze University acquires two aircraft as Baba-Ahmed expands aviation investment**

The Vice-Chancellor, Abiodun Adeniyi, a professor, also described the development as part of a broader entrepreneurial vision to build institutions that contribute to national development.

The acquisition represents another expansion of Baze University, which has invested in higher education and healthcare before venturing into aviation training.

In a reflection shared on Facebook on Saturday, Mr Adeniyi described the development as an example of entrepreneurship driven by vision, patience, hard work and calculated risk-taking.

He said the acquisition illustrated how businesses could grow through personal investment, borrowing, reinvestment and diversification, rather than waiting until they had accumulated all the capital needed for expansion.

“Successful entrepreneurs do not necessarily wait to become debt-free before expanding. They distinguish productive borrowing from reckless indebtedness, deploying resources into assets that create lasting economic value,” he wrote.

Mr Adeniyi said the investment went beyond private wealth creation, arguing that businesses established around education, healthcare and aviation could contribute to national development by creating jobs, building local capacity and developing human capital.

He described such investments as an expression of economic patriotism, where entrepreneurship also responds to national needs.

Expanding into aviation

The two aircraft are expected to support practical flight training at Baze Aviation School, which is being developed in Bwari, Federal Capital Territory.

The school is part of the university’s plans to combine classroom instruction with practical aviation training. Its proposed facilities include a dedicated runway, hangar, terminal building, laboratories and simulation centres.

The Coordinator of the Aviation School, Aliyu Bello, said the aircraft would enable students to gain hands-on experience alongside ground-school instruction.

Mr Baba-Ahmed said the institution planned to train at least 600 professionals in areas including air traffic control, air rescue and firefighting, subject to approval by relevant regulatory authorities.

He also disclosed plans for an aerodrome hub with a runway measuring 1,800 metres by 30 metres, with an additional 15 metres.

The National Universities Commission has approved two undergraduate programmes at the university for the 2026/2027 academic session: Aviation Management under the Faculty of Management and Social Sciences and Aerospace Engineering under the Faculty of Engineering.

Mr Adeniyi said the university would become the first private university in Africa to operate its own aviation school.

Entrepreneurship and national development

Mr Adeniyi’s remarks place the aircraft acquisition within a broader debate about the role of private investment in addressing Nigeria’s development challenges.

Nigeria’s aviation industry requires specialised human resources across several fields, including pilots, aircraft maintenance engineers, air traffic controllers and other technical professionals. Training institutions that combine academic instruction with practical facilities could help expand the pool of skilled workers available to the sector.

READ ALSO: How community-based schools could help Nigeria tackle out-of-school children crisis – dRPC

However, aviation training is capital-intensive and requires substantial investment in aircraft, infrastructure, maintenance, safety systems and regulatory compliance.

Mr Adeniyi said the development demonstrated the importance of sustaining a vision through years of uncertainty and making investments that could generate long-term economic value.

He traced Mr Baba-Ahmed’s expansion from Baze University, established largely with personal resources and subsequently supported by bank financing, to investments in healthcare through Baze Hospital, higher education through Baba-Ahmed University in Kano and now aviation training.

The professor argued that investments in such sectors could help reduce dependence on foreign expertise while creating opportunities for Nigerians to acquire technical skills and participate in productive enterprises.

He said the benefits of entrepreneurship should not be measured only by wealth accumulated by investors but also by the institutions created, jobs generated and national needs addressed.

“Perhaps the lesson is that great enterprises are built not simply with money, but through vision, sacrifice, perseverance and the capacity to transform ambition into productive institutions,” Mr Adeniyi wrote.

He added that when private enterprise responds to national development priorities, it takes on significance beyond commercial success.

The vice-chancellor congratulated Mr Baba-Ahmed on the acquisition, describing it as another expression of a sustained investment philosophy whose benefits could extend beyond the investor.