Online Reporter
Sunday Mail Reporter
NIGERIAN billionaire Mr Aliko Dangote is expected in the country on Wednesday to tie up a US$1 billion deal that covers investments in cement, coal mining and power generation, among other areas.
During the visit, he is scheduled to meet President Mnangagwa and other senior Government officials to discuss details of the investment plan.
Discussions are likely to centre around details of the deal, particularly mining concessions, licences, tax issues and other incentives, work permits for experts, security of investment and mutual benefits of the deal. Sources privy to the deal say the Dangote Group chief executive officer wants to build a cement factory, limestone quarry and grinding plant, coal mine and power station.
The projects are cumulatively valued between US$800 million and US$1 billion. Special Presidential Investment Adviser to the United Arab Emirates Dr Paul Tungwarara told The Sunday Mail that the businessman was keen to invest in the country.
“We are expecting him on the 12th of November, and he is expected to meet His Excellency, President Mnangagwa. He will then present his investment plan to the President. Thereafter, we will then be able to say and talk about some of the investments he is pursing in Zimbabwe,” he said.
Economist Mr Trust Chikohora said Mr Dangote’s visit sends positive signals about the investment environment in Zimbabwe.
“His visit sends positive signals to potential investments, and we hope that massive investments will come out of his visit,” he said.
“He has been in the country before, so we hope that this time he will be seeking to invest in Zimbabwe. We need foreign direct investment to stimulate economic growth and job creation.”
The billionaire runs Dangote Industries Limited, a Lagos-based diversified conglomerate with vast business interests in cement, flour, sugar, salt, pasta, beverages, fertiliser, real estate, oil and gas sectors and logistics. Its operations span other critical business interests, including a large oil refinery, a petro-chemical plant and a fertiliser complex in Nigeria. It also has operations in 16 other African countries.
He previously visited Zimbabwe in 2015 and 2018 in a bid to invest in the same areas, but the plan did not materialise at the time. Its largest subsidiary, Dangote Cement, has integrated factories and operations across 10 African countries, namely, Nigeria, Cameroon, Ghana, Senegal, Sierra Leone, Ethiopia, South Africa, Zambia, Tanzania and the Republic of Congo.
Over the past eight years, Zimbabwe has been able to attract high-net-worth investors and multi-million-dollar investments.
