Dangote signs $1 billion investment deal in Zimbabwe
Nigerian industrialist Aliko Dangote has finalized investment agreements with Zimbabwe exceeding one billion dollars across cement manufacturing, power generation and petroleum distribution sectors. The billionaire entrepreneur met with President Emmerson Mnangagwa in Harare to formalize commitments that include establishing fuel infrastructure connecting Namibian storage facilities to southern African markets through pipeline networks.
Dangote operates the largest single-train petroleum refinery globally in Nigeria and plans to construct storage capacity for at least 1.6 million barrels of gasoline and diesel at Walvis Bay. The arrangement represents a renewed effort following unsuccessful investment attempts from nearly ten years earlier, with the businessman noting substantial improvements in the country’s regulatory environment and governmental stability since his previous visit.
