Dangote granted licences, back in Zim soon

Cash rich Nigerian businessman Aliko Dangote  has been issued with three licences for his $1,2 billion worth of investment proposals, officials have said.

 However, Zimbabwe Investment Authority chairman Nigel Chanakira said they do not know when Dangote would return.

 He said Dangote's return was personal issue.

"We have issued the ZIA licences for Dangote's three projects- cement, mining and energy" he said.

However, it is understood that experts from the Nigerian tycoon's holding company - Dangote Holdings - are winding up data analysis and will draw up feasibility studies.

ZIA  chief executive Richard Mubaiwa said his office was constantly in touch with Dangote's team.

"As an investment authority, we keep track of all investment proposals and I can confirm without doubt that the Dangote proposal is still on. I am in constant contact with the chief strategist, Mr Abdu Mukhtar, and he has been informing me that his team will return to the country soon.

"We are hoping to host them anytime from now. So far, they have not encountered any hurdles that they have communicated to us. We granted them the investment licence for their company and everything is in order."

 Mubaiwa added: "Some people have been saying that the cement investment is not necessary because we already have enough cement manufacturing companies here. This is ignorance of the highest order! We are going to need more cement as a serious construction boom is taking place. We have major road projects underway and all these need cement. Government is also implementing its housing programme and this is going to need lots and lots of cement as well. Moreover, some of the cement has been earmarked for export to Zambia."