Dangote arrives in Zimbabwe

Africa's richest man, Mr Aliko Dangote, has arrived in Zimbabwe to explore a potential US$1 billion investment aimed at establishing a large-scale cement manufacturing, coal mining, and power generation complex.

The billionaire's arrival was confirmed yesterday by the Office of the President and Cabinet, which said President Emmerson Mnangagwa is expected to meet Mr Dangote today for high-level discussions.

In a post on X (formerly Twitter), journalist and business adviser Mrs Josephine Mahachi shared a picture of the Nigerian tycoon, writing: "He is here Zimbabwe."

According to sources, the planned investment - valued between US$800 million and US$1 billion - will include a cement plant, limestone quarry and grinding unit, coal mine, and power station. The project is expected to significantly boost Zimbabwe's industrial capacity and create thousands of jobs.

The visit marks Mr Dangote's third trip to Zimbabwe, following earlier exploratory visits in 2015 and 2018 that did not materialise into investment. This renewed engagement is being facilitated by Bard Santner Markets Inc, a Harare-based financial advisory firm, and Mrs Mahachi.

Bard Santner chief executive officer Mr Senziwani Sikhosana led a delegation that met Mr Dangote during the 32nd Afreximbank Annual Meetings held in Abuja, Nigeria, from June 25 to 28 this year. The meeting laid the groundwork for the current investment discussions.

Mr Dangote's business empire, Dangote Industries Limited, is one of Africa's largest conglomerates, with interests spanning cement, sugar, salt, fertiliser, oil and gas, beverages, real estate, and logistics across 17 African countries.

The proposed Zimbabwe venture aligns with the Government's Vision 2030 of transforming the country into an upper middle-income economy, driven by industrialisation and regional cooperation under the African Continental Free Trade Area (AfCFTA).

If successful, the Dangote project will represent one of Zimbabwe's most significant foreign direct investments in recent years, cementing the country's reputation as an emerging hub for Pan-African industrial growth.