Mr Aliko Dangote prepares for a highly anticipated visit to Zimbabwe for a landmark US$1 billion investment deal. The African billionaire is scouting locations for a colossal industrial complex, a venture that sources estimate could be worth a staggering US$1 billion. This potential investment is set to encompass cement manufacturing, coal mining, and power generation, marking one of the most significant foreign direct investment prospects for the nation in recent years.
The landmark visit is being orchestrated by a consortium of local facilitators, including the Harare-based financial advisory firm Bard Santner Markets Inc. and renowned Zimbabwean business facilitator Mrs Josephine Mahachi. Initial discussions are believed to have been sparked during the 32nd Afreximbank Annual Meetings in Abuja, Nigeria, this past June.
A delegation from Bard Santner, led by Chief Executive Officer Mr Senziwani Sikhosana, seized the opportunity to engage Mr Dangote directly. Following this, the executives undertook a tour of the Dangote Group’s operations in other nations to better understand the scale and scope of his enterprises.
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Dangote To Meet President Mnangagwa For Landmark US$1 Billion Investment Deal
When approached for commentary on the advanced negotiations, the facilitating parties maintained a stance of cautious optimism. Mr Sikhosana of Bard Santner indicated that it was premature to divulge specific details to the public. He stated,
“It’s too early to talk about these issues in the public. When the right time comes, authorities and ourselves as facilitators will make the necessary announcements.”
Echoing this sentiment, Mrs Mahachi confirmed that she would only comment when the time is appropriate, underscoring the sensitive and high-stakes nature of the discussions. The planned investment dovetails with the Government’s national development strategy, signalling a significant boost for the country’s economic ambitions.
This is not Mr Dangote’s first attempt to establish a foothold in Zimbabwe, having previously visited in 2015 and 2018. However, insiders suggest the climate is now more favourable. The Dangote Group, a sprawling conglomerate with interests from cement to oil refining, already operates in 17 African countries.
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Its expansion into Zimbabwe is seen as a strategic move to deepen its footprint in Southern Africa. Before any concrete plans are finalised, Mr Dangote intends to meet with His Excellency President Mnangagwa and senior government officials. These high-level talks are expected to cover critical details, including mining concessions, licences, tax incentives, and assurances regarding the security of the monumental investment, paving the way for a new chapter of industrial development.
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