The richest billionaire in Africa has eyes set on South Africa

• The richest billionaire in Africa, Aliko Dangote, plans to list his petroleum refinery in South Africa after a Nigerian IPO.
• The Dangote Group aims to raise $5 billion in an initial public offering, with a preliminary filing made with the Nigerian regulator for the refinery IPO, targeting an October listing.
• The listing in South Africa could bring regional capital markets into play, with Kenya potentially raising $500 million, and the refinery's listing could be a significant boost to the African economy.