African richest businessman, Aliko Dangote, is pushing ahead with plans to list his multi-billion-dollar oil refinery across several stock exchanges in Africa in what appears to be an unprecedented pan-continental share offering.

The proposed listing, which is expected to involve multiple African bourses simultaneously, is aimed at opening up ownership of the refinery to investors across the continent and deepening capital market integration in Africa’s fragmented financial system, according to Bloomberg.

The development was disclosed by the chief executive officer of the Nairobi Securities Exchange, Frank Mwiti, in a closed-door meeting in Lagos between Dangote and heads of several African stock exchanges, according to Bloomberg.

Mwiti, who spoke after the meeting, said discussions centred on structuring a “pan-African IPO,” noting that the share sale could be simultaneously executed in multiple jurisdictions.

According to him, the proposed arrangement would allow investors in different African countries to take stakes in the refinery through their local exchanges, a move that could significantly reshape cross-border investment flows on the continent.

Officials of the Dangote Group reportedly confirmed that the meeting with African exchange operators took place, but declined to provide details on timelines, valuation, or regulatory arrangements, fuelling speculation over how far the plan has progressed.

If completed, the listing would mark the first time a major African industrial asset is floated across multiple stock exchanges at the same time, a development analysts say could either strengthen regional capital markets or expose regulatory weaknesses across jurisdictions.

The refinery, located in Lagos, currently has a processing capacity of about 650,000 barrels of crude oil per day.