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Dangote delegation jets in to finalise business deals in Zimbabwe

by Staff Reporter
08 Sep 2015 at 00:25hrs | Views
A high-powered delegation from Dangote Industries Limited, owned by Africa's richest man, Alhaji Aliko Dangote, has arrived in the country to finalise several business deals in Zimbabwe.

The six-member delegation, led by Dr Abdul Mukhtar, comprises of lawyers and geologists, and a Zimbabwean, Rumbidzai Sithole, who works as an Corporate Strategy Specialist.

The team is scheduled to hold meetings with several government ministers including the Minister of Mines and Mining Development, Cde Walter Chidhakwa.

Dr Mukhtar said he is in the country as promised by Mr Dangote who visited the country recently.                               

"We are here to further interests shown by Mr Dangote who was here last week. We will only leave Zimbabwe when all business deals are sealed," he said.

The intention to invest in cement by Africa's richest man, Dangote, has been hailed as it will bring competition and affordable prices in the cement industry.

In an interview with ZBC News, Tinshell Holdings CEO, Tinashe Manzungu said the investment has come at an opportune time when the government is working towards accommodation provision for home seekers.

Manzungu added that the move will complement government's efforts in providing accommodation, saying local demand for cement will significantly increase as government has targeted to roll out a housing scheme targeting 313 000 units by 2018 under the ZIMASSET economic blueprint.

"The coming in of new players in the cement industry will enable the growth of the construction sector," said Manzungu.

The Nigerian billionaire said he would spend close to US$400 million on the cement plant, which will produce 1,5 million tonnes of cement a year, mak┬Čing it the biggest in country.

Source - ZBC