Aliko Dangote has responded to a Kenyan court challenge involving his proposed $16 billion refinery, recalling a previous legal battle in Senegal and insisting his group is prepared to defend its projects.

Aliko Dangote has questioned how Africa’s wealthy allocate their capital, arguing that investment in factories and productive businesses would have a greater economic impact than spending heavily on luxury assets.

Aliko Dangote says the IPO of his 650,000-barrel-per-day refinery will open within 10 to 12 days, with the company seeking about $5 billion.