ACCESS BANK OPENS DANGOTE REFINERY OFFER AT P585 MINIMUM

Article By: Staff Writer

Access Bank Botswana has opened its Dangote refinery investment offer, allowing local investors to buy depository receipts from a minimum of P585.

Investors must apply for at least 100 receipts at P5.85 each, with every receipt backed by one share in the Nigerian refinery.

The offer follows last week’s roadshow, where the bank outlined plans to channel up to 500 million US dollars from Botswana and participating regional markets into the refinery’s share offer.

Dangote says the capital will support plans to double processing capacity from about 700,000 barrels a day to 1.4 million by 2029, while widening African participation in the business.