Dangote Refinery’s IPO Is Not What You Think It Is

The entire stock market of Africa's biggest economy is worth about $114 billion. One refinery just outside Lagos is asking investors to value it at $50 billion. On day one. That is one company reaching for almost half of a whole national exchange, and it just opened its doors to outside money through a private placement that raised billions.

So we brought in someone who actually builds the rails for this. Eke Urum walks through what the Dangote Refinery IPO really is, why he calls it "anchor infrastructure," and why he thinks it joins the short list of Nigerian companies you can almost never go wrong buying. He also names his own reservations, from the crude supply risk to the way the business has leaned on the Nigerian system.

Eke Urum is the founder and CEO of Risevest, the dollar investment platform that acquired Chaka and now runs Hisa, the app letting everyday people own Nigerian and US stocks in minutes. He has spent years tearing down the paperwork that kept regular people out of the market. Sign up for Hisa - https://invite.hisa.co/7fkf/AFROPOLITAN

In this episode we get into where a Nigerian in the diaspora should actually put money right now, why refineries make money from far more than fuel, the $80 to $100 billion number Eke puts on Dangote over the next decade, how private placements work and who really gets in first, the 600,000 trading accounts in a country of 200 million people, and a step by step plan to get ready for the September IPO.

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