NAIROBI, Kenya, Oct 6 – The Capital Markets Authority (CMA) has cleared seven licensed Kenyan firms to help investors participate in the initial public offering (IPO) of Dangote Petroleum Refinery & Petrochemicals in Nigeria.

The firms include CPF Capital & Advisory, SBG Securities, Francis Drummond & Company, National Bank of Kenya, Sterling Capital, Kestrel Capital and AXYS Investment Bank.

CMA said the firms have arrangements with authorised transaction parties handling the IPO in Nigeria and can facilitate Kenyan investors seeking to buy shares in the offer.

The Nigerian refinery’s IPO opened on September 14 and is scheduled to close on October 13, 2026.

SBG Securities will work with Stanbic Bank Kenya as custodian, while National Bank of Kenya will also provide custodial services.

CPF Capital & Advisory will act as an investment adviser, Francis Drummond and Kestrel Capital as stockbrokers, and Sterling Capital and AXYS Investment Bank as investment banks.

The approval comes a day after CMA cleared Renaissance Capital (Kenya) Limited to facilitate Kenyan participation through global depository receipts (GDRs).

CMA said it has received several enquiries from Kenyan investors interested in the IPO and is willing to approve other licensed intermediaries that establish the required arrangements with transaction parties in Nigeria.