Online Reporter
Debra Matabvu, Senior Writer
Africa’s wealthiest individual, Mr Aliko Dangote, is set to arrive in the country for high-level talks regarding a potential US$1 billion investment to establish a major industrial complex, encompassing cement manufacturing, coal mining and power generation.
President Mnangagwa is expected to hold talks with Mr Dangote today, while the businessman will also engage several senior Government officials to fine-tune details of the proposed ventures.
The discussions will likely cover key aspects such as mining concessions, licensing, taxation, expert work permits, investment guarantees and broader mutual benefits for both parties.
Mr Dangote plans to set up a cement plant supported by a limestone quarry and grinding unit, alongside a coal mine and power station.
The combined projects are estimated to cost between US$800 million and US$1 billion.
In an interview, Presidential Investment Advisor Dr Paul Tungwarara confirmed today’s visit.
“I can confirm that Mr Dangote will meet with the President tomorrow (today)”, he said.
“He will also meet with other senior officials who include Ministries of Finance, Industry and Commerce, as well as Agriculture.”
Zimbabwe Investment and Development Agency (Zida) CEO Mr Tafadzwa Chinamo said the growing interest in investing in Zimbabwe over the past few years is a testament to the attractive policies being implemented by the Government.
“We have noted growing interest from investors across Africa who are exploring opportunities in Zimbabwe and we welcome such engagements as part of the broader dialogue on regional cooperation and industrial growth,” he said.
“Zimbabwe’s investment agenda is focused on creating long-term value for its citizens through job creation, infrastructure development and technology transfer.
“As with all investment missions, the ultimate goal is to ensure that these engagements translate into inclusive and broad-based growth.”
Economist Mr Persistence Gwanyanya said various reforms being implemented by the Government to attract investment and the ease of doing business are paying off.
“Given the country’s richness in natural resources, it’s unsurprising that Africa’s richest man continues to show interest in investing in Zimbabwe.
“Let us hope this time he will settle for something. We understand Dangote has strong interests and footprints in the manufacturing sector, specifically sugar, cement, among others and opportunities to invest in these areas are abundant
“Interestingly, Dangote’s renewed interest in Zimbabwe comes at a time when the Government has embarked on aggressive ease of doing business reforms, which may be viewed as a positive response by the international investment community to this policy.”
Mr Dangote previously visited Zimbabwe in 2015 and 2018 in a bid to invest in the same areas.
Ever since then, Zimbabwe has become an attractive tourism and investment destination owing to the Second Republic’s efforts to create a conducive business environment.
