The President/Chief Executive of the Dangote Group, Aliko Dangote, plans to invest up to $1 billion in Zimbabwe to develop cement and power plants, as well as a fuel pipeline.
According to Bloomberg, Dangote spoke to reporters after a meeting with Zimbabwean President Emmerson Mnangagwa in Harare on Wednesday, saying:
“Mnangagwa has turned the economy around. That really gave us the confidence that this is the right time for us to come and invest.”
Zimbabwean media/news company Zanu PF Celebs Official shared videos on Instagram from Dangote’s arrival at the State House. The posts noted:
“Patriotic business magnate Aliko Dangote arrives at State House, where he is officially received by the Presidential Special Advisor on Investment, Dr Paul Tempter Tungwarara, ahead of his meeting with H.E. President Emmerson Dambudzo Mnangagwa.”
“The engagement focuses on strengthening investment cooperation and accelerating Zimbabwe’s economic development agenda.”
According to the agency, Dangote met with President Mnangagwa to explore major business opportunities in cement, coal mining, and power generation, adding:
“The engagement underscores Zimbabwe’s drive to attract strategic investment by drawing on Dangote’s multi‑billion‑dollar industrial capacity and influence across Africa.”
Bloomberg also reported that Dangote had previously expressed interest in similar investments in Zimbabwe in 2015, including plans for his Dangote Cement Plc to build a $400 million plant with a processing capacity of 1.5 million tons a year.
That deal, along with others proposed at the time, failed to materialise after talks with then-President Robert Mugabe.
Etimes247 further reported that in August, Dangote inked a $2.4 billion fertiliser plant deal in Gode, Ethiopia, and began construction in October.
The plant is expected to leverage Ethiopia’s abundant natural gas resources from the Hilal and Calub reserves to boost agricultural productivity, create jobs, and enhance food security across the Horn of Africa.
