The Nigerian Exchange Group and partner exchanges in Egypt and Ethiopia are advancing cross-border investment collaboration across Africa, using the Dangote Petroleum Refinery offer as a practical framework for connecting investors and mobilising African capital for industrial development.
Engagements held on 15 October 2026 brought together exchange leaders, financial institutions and capital market stakeholders in Cairo, hosted by the Egyptian Exchange with the African Export-Import Bank, and in Addis Ababa, hosted by the Ethiopian Securities Exchange. The discussions explored how to improve market connectivity, broaden investor participation and mobilise African capital for productive investment. Earlier stops included the Nairobi Securities Exchange and the Botswana Stock Exchange.
Temi Popoola, Group Managing Director and Chief Executive Officer of NGX Group, said the continent has substantial institutional capital in pension funds and insurance companies, but stronger market infrastructure and cooperation are needed to connect these resources with investment opportunities across borders. Alhaji Umaru Kwairanga, Group Chairman of NGX Group, stressed that progress would depend on sustained institutional cooperation and investment in infrastructure and technology that makes cross-border participation more accessible and efficient.
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 and reduce dependence on imports. Omar Radwan, Executive Chairman of the Egyptian Exchange, said Egyptian Depositary Receipts could provide a channel for Egyptian investors to access selected African businesses.
In Addis Ababa, Yodit Kassa, Chief Executive Officer of the Ethiopian Securities Exchange, said the Dangote offer represents an important opportunity for Ethiopian investors to participate in growth at one of Africa's leading industrial enterprises. Discussions also highlighted practical requirements for cross-border participation, including regulatory recognition, distribution, investor verification, settlement, custody and access to reliable information.