Dangote expected in Zimbabwe for a potential US$1bn deal

Nigerian billionaire and Africa's wealthiest man, Mr Aliko Dangote, is expected in Zimbabwe soon to discuss plans for a major cement, coal mining, and power generation project valued at approximately US$1 billion, exclusive sources have revealed.

Organisers familiar with the planned visit say Dangote's business engagement will enhance Zimbabwe's profile as an attractive destination for foreign direct investment while creating significant development and job opportunities. The proposed investment aligns with the government's Vision 2030 goal of building a modern, empowered, and prosperous nation.

During his visit, Dangote is expected to meet President Emmerson Mnangagwa and senior government officials to finalise discussions on the investment plan. The Nigerian tycoon heads Dangote Industries Limited, a Lagos-based conglomerate with extensive operations in cement, flour, sugar, salt, pasta, beverages, fertiliser, real estate, oil, gas, and logistics, spanning 17 African countries.

Sources indicate that in Zimbabwe, the Dangote Group intends to establish a cement factory, limestone quarry and grinding plant, coal mine, and power station, with a cumulative valuation between US$800 million and US$1 billion. Dangote previously visited Zimbabwe in 2015 and 2018 to explore similar ventures, but the plans did not materialise.

The renewed interest is reportedly driven by outreach from executives of Harare-based financial advisory firm Bard Santner Markets Inc and Zimbabwean journalist-cum-business facilitator Mrs Josephine Mahachi. Bard Santner, which specialises in corporate finance, asset management, and wealth management, first engaged Dangote during the 32nd Afreximbank Annual Meetings in Abuja, Nigeria, held from June 25 to 28, 2025.

During the Afreximbank event, Dangote emphasised the importance of Pan-African investments, regional economic development, and value addition under the African Continental Free Trade Area (AfCFTA) agreement, which Zimbabwe actively participates in. Following the meeting, Bard Santner executives, led by CEO Mr Senziwani Sikhosana, held follow-up discussions with Dangote and visited his operations in Nigeria and Zambia to better understand his business model.

The Dangote Group currently operates across 17 African nations, with Dangote Cement present in ten countries, including Nigeria, Cameroon, Ghana, Senegal, Sierra Leone, Ethiopia, South Africa, Zambia, Tanzania, and the Republic of Congo. The conglomerate is also developing a large-scale fuel storage and distribution hub at Walvis Bay, Namibia, to supply gasoline and diesel across Southern Africa.

Sources say Dangote's investment in Zimbabwe will hinge on negotiations regarding mining concessions, licences, tax incentives, work permits for experts, and the security of investment. Officials and facilitators have declined to comment in detail, stating that announcements will be made at the appropriate time.

Zimbabwe has increasingly attracted investors under the Second Republic, which has focused on creating a conducive business environment, making Dangote's planned investment a potential milestone for the country's industrial and economic growth.