Africa’s Richest Man Aliko Dangote Expected in Zimbabwe for US$1 Billion Business Tie-Up

Aliko Dangote is expected in Zimbabwe to finalise a US$1 billion industrial investment deal covering cement production, coal mining and power generation (image source)

Nigerian billionaire industrialist Aliko Dangote is expected in Harare this week to finalise a proposed US$1 billion industrial package that spans cement production, coal mining and power generation, according to senior government and business sources. The deal is being described as one of the largest private-sector investment commitments to Zimbabwe in recent years and aims to ease shortages of construction inputs while boosting the country’s power supply.

Preparations for the high-level visit include scheduled meetings with President Emmerson Mnangagwa and senior cabinet ministers. State agencies and private facilitators are coordinating logistics, regulatory briefings and investment frameworks ahead of Dangote’s arrival. Representatives from local financial services firm Bard Santner have already travelled to Nigeria to help structure financing models and lay the groundwork for concession agreements and joint-venture arrangements.

The investment plan under discussion includes the establishment of a cement manufacturing plant and grinding facility, a limestone quarry, a coal mine and a dedicated power station to support integrated industrial operations. Officials have publicly placed the total project value between US$800 million and US$1 billion. Presidential investment adviser Paul Tungwarara said the negotiations will cover mining rights, operational licences, tax incentives, investment-security guarantees, and work permit protocols for technical personnel.

Analysts say a successful Dangote-led initiative could significantly reduce Zimbabwe’s persistent cement shortages, stabilise construction costs and add generation capacity for industrial growth. However, they caution that the economic impact will depend on implementation speed, transparent foreign-exchange frameworks and clear local-content obligations. Commentators note that while the proposal ranks among the most ambitious privately driven industrial expansions in over a decade, bankable terms will be crucial to winning the confidence of international financiers.

Local reaction remains cautiously optimistic. Stakeholders recall previous engagements in 2015 and 2018, when Dangote held talks with Zimbabwean authorities but negotiations stalled over disagreements on terms. Business groups say clarity on local jobs, supplier development, and reliable project timelines will be essential if this latest effort is to avoid similar setbacks.

“Discussions will centre on incentives, licences and the security of investment,” a government source said.

If concluded, the multi-billion-dollar package would signal renewed confidence in Zimbabwe’s industrial potential. Its ultimate success, however, hinges on fast-tracked approvals, predictable economic policy, and enforceable commitments to local participation.