Harare, Zimbabwe — Africa’s richest man, Aliko Dangote, is set to invest $1 billion in Zimbabwe, marking a major expansion of the Dangote Group’s footprint across Southern Africa.
The investment, which will span cement manufacturing, coal mining, and power generation, represents a renewed push by the Nigerian industrialist to strengthen the conglomerate’s operations on the continent.
According to government officials, preparations are underway for a high-level meeting between President Emmerson Mnangagwa and Dangote, following a series of renewed discussions during the Afreximbank Annual Meetings held in Abuja in June.
Paul Tungwarara, investment adviser to President Mnangagwa, confirmed that the billionaire’s visit to Zimbabwe is imminent.
“The richest man in Africa is coming to Zimbabwe at the invitation of President Mnangagwa. The two have been in constant communication, and we are presently working on the logistical aspects of the visit,” Tungwarara said.
“We are keen to ensure that he makes a significant investment in Zimbabwe and avoid what happened during his previous visit in 2015, when he came but did not return.”
Dangote’s renewed interest follows two earlier investment missions in 2015 and 2018, which did not yield concrete agreements. This time, officials say the political and economic environment is more conducive, with the government prioritizing large-scale industrial and energy projects to drive growth.
If finalized, the project will be one of the largest private sector investments in Zimbabwe in recent years, promising to boost infrastructure development, create jobs, and strengthen regional industrial integration.
The initiative also aligns with the Dangote Group’s Africa-wide growth strategy, which includes cement plants and energy projects in several countries such as Nigeria, Ethiopia, Senegal, and Tanzania.
