Dangote expected in Zimbabwe on Wednesday

Nigerian billionaire Mr Aliko Dangote is expected to arrive in Zimbabwe on Wednesday to finalise a US$1 billion investment deal spanning cement production, coal mining, and power generation, among other projects.

During the visit, the Dangote Group founder and chief executive will meet President Mnangagwa and other senior Government officials to conclude discussions on the investment framework, which includes mining concessions, licences, tax incentives, work permits for technical experts, and security of investment.

Sources close to the negotiations said the businessman's plan involves establishing a cement factory, a limestone quarry and grinding plant, a coal mine, and a power station, with cumulative project values ranging between US$800 million and US$1 billion.

Special Presidential Investment Adviser to the United Arab Emirates, Dr Paul Tungwarara, confirmed the visit in an interview.

"We are expecting him on the 12th of November, and he is expected to meet His Excellency, President Mnangagwa," Dr Tungwarara said.
"He will then present his investment plan to the President. Thereafter, we will be able to outline some of the projects he intends to pursue in Zimbabwe."

Economist Mr Trust Chikohora said the billionaire's visit sends a strong message about Zimbabwe's improving investment climate.

"His visit sends positive signals to potential investors, and we hope that massive investments will come out of it," Mr Chikohora said.
"He has been in the country before, so we hope that this time he will be seeking to invest. Zimbabwe needs foreign direct investment to stimulate economic growth and job creation."

Mr Dangote, Africa's richest man, heads Dangote Industries Limited, a Lagos-based conglomerate with vast business interests in cement, flour, sugar, salt, pasta, beverages, fertiliser, real estate, oil and gas, and logistics. The group also operates a large oil refinery, petrochemical plant, and fertiliser complex in Nigeria, and has operations in 16 other African countries.

The group's flagship subsidiary, Dangote Cement, runs integrated factories and grinding plants in Nigeria, Cameroon, Ghana, Senegal, Sierra Leone, Ethiopia, South Africa, Zambia, Tanzania, and the Republic of Congo.

Mr Dangote previously visited Zimbabwe in 2015 and 2018 to explore investment opportunities in the same sectors, but those plans did not materialise at the time.

Zimbabwe has, in recent years, recorded a notable rise in high-net-worth investor interest and multi-million-dollar project commitments across key sectors such as energy, mining, and manufacturing, driven by policy reforms under the Second Republic.

Mr Dangote's renewed engagement, analysts say, could mark one of the most significant private-sector investments in Zimbabwe in recent years.