Ruto accuses Dangote pipeline critics of extortion

Kenyan President William Ruto has strongly defended Nigerian billionaire Aliko Dangote’s acquisition of shares in Kenya Pipeline Company (KPC), accusing critics of attempting to frustrate major investments through extortion and intimidation, according to ChimpReports. Speaking during the launch of the Ngaaie clinker plant in Kitui County, Ruto questioned why Dangote’s investment in the strategic petroleum infrastructure company had attracted criticism when its shares were available to other investors through the Nairobi Securities Exchange. The President accused unnamed individuals of demanding access to confidential investment agreements and attempting to interfere with Dangote’s proposed multi-billion-dollar oil refinery in Lamu. He did not identify the alleged extortionists or provide evidence of their demands, but vowed to confront individuals he accused of undermining Kenya’s investment environment. He said the major investment will transform the region’s abundant limestone deposits into industrial wealth, boost local businesses and create 4 000 jobs during construction. Ruto also sought to reassure domestic and foreign investors that his administration would protect their investments from interference. The remarks come amid growing scrutiny of Dangote’s expanding interests in Kenya’s petroleum sector, particularly his participation in KPC and plans to establish a refinery that could fundamentally reshape fuel supply across East Africa.

Full ChimpReports article