Dangote to invest $1 billion in Zimbabwe projects
Nigerian businessman Aliko Dangote will visit Zimbabwe to discuss investments worth up to one billion dollars in cement production, coal extraction and electricity generation. The African billionaire plans to meet President Emmerson Mnangagwa and government ministers about permits, taxes and operational details for factories that would employ local workers.
Dangote Industries operates cement plants across 10 African nations and runs refineries in Nigeria that supply fuel to southern Africa. Financial advisers from Bard Santner Markets and business facilitator Josephine Mahachi arranged meetings with Dangote executives starting in June at the Afreximbank conference in Abuja.
The investment package would establish a limestone quarry, grinding facility and power station. Dangote previously explored opportunities in Zimbabwe in 2015 and 2018, but did not complete any transactions. His group wants to build fuel storage terminals in Namibia that would distribute petroleum products to Botswana, Zambia and Zimbabwe.
