Dangote to invest $1bn in Zimbabwe’s cement, energy, pipeline projects

Dangote to invest $1bn in Zimbabwe’s cement, energy, pipeline projects

 

Africa’s richest man, Aliko Dangote, has sealed a landmark deal to invest over $1 billion in Zimbabwe’s cement, energy and petroleum sectors.

The billionaire businessman and Chairman of Dangote Group confirmed the development after meeting with Zimbabwe’s President, Emmerson Mnangagwa, in Harare on Wednesday.

“We have just signed an agreement between Zimbabwe and the Dangote Group to make major investments in several areas, including cement production, power generation, and pipelines to transport petroleum products,” Dangote said.

According to him, the total investment will exceed $1 billion, largely due to the inclusion of a fuel pipeline project.

He also hinted at other potential ventures the Group is considering in the country.

Dangote commended President Mnangagwa’s efforts to revive the Zimbabwean economy, describing his leadership as transparent and business-friendly.

“When you look at what His Excellency has done to turn the economy around, it gives investors like us the confidence that this is the right time to come in,” he said.

“It’s like someone who has passed an exam — His Excellency has truly earned high marks.”