Kenya · Country watch

CMA Warns on Dangote IPO, EV Charging Costs Capped

Kenya's CMA warns investors on Dangote IPO; EV charging costs capped to boost electric vehicle adoption.

Florent Kalfon · September 22, 2026 · 6 sources

The picture Mixed

Business conditions in Kenya are mixed. The CMA's warning on Dangote's IPO and new import benchmarks create caution, while EV charging cost caps support growth.

In this briefing Aliko Dangote · William Ruto · Capital Markets Authority · Dangote Petroleum Refinery and Petrochemicals · BasiGo · Kenya Energy Regulator · Kenya Revenue Authority

Regulation

finance
energy

CMA warns investors on Dangote Refinery IPO

A man sitting at a table with a laptop — Pesa Onesmus / Unsplash

Kenya's Capital Markets Authority (CMA) has issued a warning to investors regarding the initial public offering (IPO) of Dangote Petroleum Refinery and Petrochemicals. The warning comes amid plans by Nigerian billionaire Aliko Dangote to build a Ksh2.2 trillion oil refinery in Lamu, Kenya. The CMA highlighted the strict limits currently imposed on Kenyan retail investors seeking to participate in the IPO, according to Standard Media and Kenyans. President William Ruto has backed the Lamu refinery project, increasing interest among local investors.

Impact Kenyan investors face restrictions on participating in Dangote's IPO, affecting their investment strategies.

Sources: Standard Media ↗, Kenyans ↗

energy
automotive

Regulator caps electric vehicle charging costs

Kenya's energy regulator has capped the costs of charging electric vehicles (EVs), a move aimed at encouraging EV adoption in the country. The cap applies to some of Kenya’s biggest EV companies, including BasiGo, a bus maker, and a Dubai-headquartered firm, according to Business Daily. This regulation intends to make EVs more affordable and accessible to the public, aligning with the government's broader environmental goals.

Impact EV companies like BasiGo will benefit from reduced charging costs, potentially boosting EV sales and adoption.

Sources: Business Daily ↗

logistics
retail

KRA issues licence notice to importers, warehouse operators

The Kenya Revenue Authority (KRA) has issued a notice to importers and warehouse operators following a recent announcement by President William Ruto. The new import benchmark has been reduced to Ksh2 million from Ksh3.2 million, according to Kenyans. This change is expected to affect the importation process, potentially impacting the costs and logistics for businesses involved in importing goods into Kenya.

Impact Importers and warehouse operators must adjust to new import benchmarks, affecting their cost structures and logistics planning.

Sources: Kenyans ↗