Aliko Dangote, widely regarded as Africa’s wealthiest individual, is in Harare to finalise a sprawling US$1 billion (R17.16 billion) investment deal with the Zimbabwean government.
Dangote to invest in Zimbabwe
According to The Herald Online, Dangote’s planned investment centres on an integrated industrial complex that includes a cement plant, a coal mine and a power station.
This marks a major step in Zimbabwe’s efforts at national industrialisation.
According to reports, Dangote had previously expressed interest in investing in Zimbabwe in 2015 and 201), but the deals stalled.
This new visit marks a renewed push, backed by government support and structured facilitation.
High level talks move closer to sealing the deal
Dangote is set to meet President Emmerson Mnangagwa to finalise details around mining concessions, tax incentives, and investment guarantees.
The deal, which has been in the works for several months, picked up pace during the Afreximbank annual meetings held in Abuja in June, according to Billionaires Africa.
In June both sides managed to resolve key sticking points and outline the next steps toward implementation.
Harare-based Bard Santner Markets Inc. has been facilitating the negotiations, led by CEO Senziwani Sikhosana and investment facilitator Josephine Mahachi.
On the government side, presidential investment adviser Paul Tungwarara has been steering the process, ensuring that all policy and regulatory approvals stay on track.
Who is Aliko Dangote?
Born in Nigeria, Dangote is the founder and CEO of the Dangote Group, a pan‑African conglomerate with diversified interests in cement, sugar, fertiliser, oil and gas, and other sectors.
Forbes currently ranks Dangote as the 91st richest person in the world, with a net worth of $25.5 billion.
His flagship cement business, Dangote Cement Plc, is Africa’s largest cement producer. It has production capacity of over 50 million tonnes annually across multiple countries.
