President of Dangote Group, Aliko Dangote, says Africa could largely meet its refined fuel needs by 2030 as he prepares to launch a 700,000-barrel-per-day refinery project in Kenya.

Dangote is expected to break ground on the $16 billion refinery on the Kenyan coast on Wednesday, with construction projected to take about 30 months.

Speaking in Nairobi, Dangote said the project was part of efforts to reduce Africa’s dependence on exporting raw materials and increase the production of finished products on the continent.

Meanwhile, Dangote said he was prepared to confront legal challenges to his businesses and could reduce his ownership of the Dangote Petroleum Refinery to 25 per cent as more Africans acquire shares in the company.

The Dangote Group also said a Kenyan court ruling over a land rights dispute would not stop Wednesday’s groundbreaking ceremony for the planned refinery in Lamu, although it could affect some activities at the project site.