A wonder of the world — South African bank CEO commits to Dangote Refinery IPO listing

Sim Tshabalala, the chief executive officer of Standard Bank Group, a leading South African bank, has described the Dangote Refinery as a wonder of the world.

He disclosed this during a visit to the Dangote Refinery and Fertilizer Plant in Lagos.

Tshabalala confirmed that the bank assumes a central position in the refinery’s upcoming market listing in September 2026.

“This is a wonder to behold. It is massive, productive, and transformative,” he said.

Responding, Group Vice President of Oil and Gas at Dangote Industries, Devakumar Edwin, said the bank’s continued presence reflects the depth of that relationship.

“The bank visited us during construction and understood the scale of what we were building,” he said. “Today, the refinery is fully operational, and they can see what their support has helped us to create. It is like nurturing a tree and eventually seeing it bear fruits.”

On his part, the Managing Director and CEO of the Dangote Refinery, David Bird, described Standard Bank as one of the refinery’s strongest and most consistent backers.

“Seeing is believing, and it allows our partners to appreciate the scale of what has been achieved,” he said.