Africa’s richest man, Nigerian billionaire Aliko Dangote, is expected to arrive in Zimbabwe on Wednesday to finalise a landmark US$1 billion investment deal that will significantly boost the country’s industrial and energy sectors. The massive investment package will span cement production, coal mining, and power generation, among other strategic areas aimed at accelerating Zimbabwe’s economic transformation.
During his high-profile visit, Mr Dangote is scheduled to meet President Emmerson Mnangagwa and senior Government officials to conclude discussions on the project’s framework. Negotiations are expected to focus on key aspects such as mining concessions, tax incentives, investment security, and work permits for technical experts. Sources close to the discussions revealed that the Dangote Group plans to establish a cement manufacturing plant, a limestone quarry and grinding facility, as well as a coal mine and power station to support industrial operations and national energy supply.
The proposed projects, valued between US$800 million and US$1 billion, represent one of the largest private sector investments Zimbabwe has attracted in recent years. The Special Presidential Investment Adviser, Dr Paul Tungwarara, confirmed the visit, describing it as a breakthrough moment for Zimbabwe’s industrial revival.
“We are expecting him on the 12th of November, and he is expected to meet His Excellency, President Mnangagwa. He will present his investment plan to the President, after which we will outline the specific projects he intends to pursue in Zimbabwe,” Dr Tungwarara said.
Economists have welcomed the development, describing it as a strong endorsement of the country’s improving investment climate under the Second Republic. Economist Batsirai Matsika noted that Dangote’s renewed interest highlights growing investor confidence in Zimbabwe.
“His visit sends positive signals to potential investors. We need such large-scale foreign direct investment to drive economic growth, create jobs, and enhance industrial productivity,” Matsika said.
Mr Dangote, who chairs the Dangote Group, runs one of Africa’s largest conglomerates with operations in over 16 African countries. His business empire spans cement, sugar, flour, salt, fertiliser, oil and gas, real estate, and logistics, among other sectors. The group’s flagship subsidiary, Dangote Cement, operates major plants across Nigeria, South Africa, Zambia, Tanzania, Ethiopia, Ghana, and Senegal, positioning it as the continent’s leading cement producer.
If successful, the Dangote investment will not only boost domestic production and employment but also mark a major step in Zimbabwe’s journey toward industrialisation and energy self-sufficiency, in line with Vision 2030.
Zim on the right path