Online Reporter
Zimpapers Reporter
PRESIDENT Mnangagwa has granted approval for Nigerian billionaire Mr Aliko Dangote’s official visit to Zimbabwe, paving the way for a potential US$1 billion investment in cement manufacturing, coal mining and power generation.
The high-level visit is being facilitated by Bard Santner Markets Inc, in collaboration with Zimbabwean journalist-turned-business adviser, Mrs Josephine Mahachi.
The proposed investment aligns with President Mnangagwa’s Vision 2030, which aims to transform Zimbabwe into an empowered, modern, and prosperous upper-middle-income economy.
Mrs Mahachi confirmed that the visit had received the President’s official endorsement, paving the way for Mr Dangote and his delegation to meet with President Mnangagwa and senior Government officials to finalise the investment roadmap.
“As much as I had hoped to keep this confidential until the appropriate time, it has proven difficult given the prominence of the individual involved. As you may recall, I played a pivotal role in facilitating Mr Aliko Dangote’s visit in 2015, and I firmly believe that everything unfolds in God’s perfect timing.
“I am pleased to confirm that Mr Dangote will be returning to Zimbabwe in the near future to explore new investment opportunities. While the exact date is yet to be confirmed, a formal mandate has already been signed.
“This time, I have partnered with Bard Santner Incorporated, a distinguished financial institution, to ensure a seamless and well-co-ordinated process. Furthermore, we are working on this initiative directly with His Excellency President E.D. Mnangagwa through his investment adviser, Dr Paul Tungwarara,” said Mrs Mahachi.
Presidential Investment Adviser, Dr Paul Tungwarara, stated that President Mnangagwa had approved the visit, reaffirming the Government’s commitment to attracting meaningful, high-impact investors.
“Africa’s richest man is coming to Zimbabwe at the invitation of President Mnangagwa. The two have been in regular communication, and we are currently working on the logistical aspects of the visit. We are eager to ensure that he makes a significant investment in Zimbabwe and avoid a repeat of what happened during his previous visit in 2015, when he came but did not return,” said Dr Tungwarara.
Sources revealed that the Dangote Group intends to establish a fully integrated cement factory, limestone quarry and grinding plant, alongside a coal mine and power station — projects collectively estimated at between US$800 million and US$1 billion.
Mr Dangote, who heads Dangote Industries Limited — a Lagos-based conglomerate with extensive interests in cement, sugar, salt, fertiliser, real estate, oil and gas and logistics — is Africa’s wealthiest individual and one of its most influential industrialists. His group operates in 16 African countries and is behind one of the world’s largest oil refinery and petrochemical complexes in Nigeria.
Mr Dangote’s previous visits to Zimbabwe in 2015 and 2018 laid the foundation for collaboration, but prevailing circumstances at the time hindered the realisation of the projects. With President Mnangagwa’s direct endorsement and support, expectations are high that this landmark investment will finally come to fruition.
It may be great if we can have further clarity as to why those investments failed to take off in 2015. Was there something that Dangote was not happy about which has since been fixed by the second republic.Zimbabwe is yearning for more foreign direct investment but I sometimes feel a bit uncomfortable when potential investors go through the office of the President.We used/have the Zimbabwe Investment Centre which should sort all this and we only get the President during sod turning. The way this is put here ellict suspicion that there are “the chosen ones” whose path to invest is lined with gold!