Buying Dangote: A deep dive into the refinery IPO

From broker arrangements with networks in Nigeria to a Nairobi Securities Exchange (NSE) listed instrument, Kenyans have access to the Dangote refinery initial public offering (IPO) through various routes. The IPO is scheduled to close on October 13. In this episode of the Make Money podcast, Karimi Warui, the Head of Investment Banking at Renaissance Capital, takes a deep dive into the IPO through the lens of the NSE-bound global depositary receipts (GDRs) instrument.

Make Money, a podcast series hosted by Kepha Muiruri, from Business Daily Africa, unravels ways to be financially savvy. Get practical tips and advice on how to increase your income, build wealth, and achieve financial freedom in Kenya. Whether you’re just starting out or a seasoned investor, we’ve got something for everyone.

Rating KPC’s IPO: Is the Sh9 share price a good deal for you? – Episode 1

How shares trading was built on M-Pesa – Episode 2

Bitcoin’s latest crash: correction or death spiral? – Episode 3

The golden hedge: Navigating global volatility from the NSE – Episode 4

Beyond the money market: Is the pivot to special funds worth the risk? – Episode 5

Trading vs buy-and-hold: Where are stock investors leaving money? – Episode 6

Inside the KPC IPO: What investors learnt – Episode 7

The dividend play: How to make money from rising payouts – Episode 8

Your Q1 investing scorecard: Gulf war, rate cuts and NSE grit – Episode 9

Should I sell my bond now that prices are high? – Episode 10

ETFs explained: One investment, many assets – Episode 11

Risk and reward: Navigating the pain and pleasure of investing – Episode 12

Why diversification is the future of investing – Episode 13

Inside the Sh600bn money markets fund growth – Episode 1

Why more Kenyans are taking their money offshore – Episode 2

The low-interest playbook: Where to invest your money now – Episode 3

The bonds ladder: How to get a monthly pay cheque – Episode 4

The hidden cost of investing: How to stop fees from eating your returns – Episode 5

The financial supermarket: Can your bank do it all? – Episode 6

NSE rally: Is it too late to invest? – Episode 7

Stocks 101: Your guide to opening a CDS account and making your first trade – Episode 8

Can AI replace your financial advisor? – Episode 9

Bubble or Boom? Decoding the AI-fuelled market frenzy – Episode 10

Black November: How to find investment bargains – Episode 11

The 2025 investment scorecard: Where did Kenyan investors win? – Episode 12

Episode 1: The allure of infrastructure bonds

Episode 2: Maximising the dividend earning season

Episode 6: Insurance: Investment or Illusion?

Episode 7: Why Kenyans are going into business

Episode 8: Willy Kimani’s leap: Business insights from corporate to entrepreneurship

Episode 1: Government bonds: Risk-free or low risk?

Episode 2: MMFs: Who really needs a fund manager?

Episode 3: How to protect your investments as interest rates fall

Episode 4: Is the stock market still a way make to money?

Episode 5: Does it still make sense to buy dollars?

Episode 6: How time directly impacts your investments

Episode 8: Money matters: To bank or not to bank?

Episode 9: Trading 101: Separating wheat from chaff

Episode 10: What music can teach us about money

Episode 4: Make your side hustles worthwhile

Episode 5: Loan and Behold: The art and science of borrowing

Episode 6: Career driven – Triumph at your job

Episode 7: Better Together – The Power of Group Investing

Episode 8: Make your networks shape your net worth

Episode 9: Buy now, Pay later – The A to Z of consumer credit

Episode 10: What would you do if you had Sh500,000?

Episode 1: Financial fitness – walk before you can run

Episode 5: NSE – Taking stock of the market

Episode 6: Going offshore – cast your bread in many waters

Episode 9: How wife’s wake-up call led Ken to make more money