Online Reporter
Debra Matabvu
Herald Reporter
AFRICA’S wealthiest man Mr Aliko Dangote has commended President Mnangagwa’s economic reforms, saying they have spurred economic growth underpinned by a stable and conducive environment for investment.His endorsement followed the signing of a broad agreement with the Zimbabwean Government, outlining his group’s interest in the energy, cement, fertiliser and infrastructure sectors.
Speaking to the media after signing the agreement at State House in Harare yesterday, Mr Dangote, who has a net worth of US$30 billion, commended President Mnangagwa for restoring investor confidence through bold economic transformation.
He previously visited Zimbabwe in 2015 and 2018 in a bid to invest in the same areas, but the plan did not materialise then.
Asked why he was back now, Mr Dangote said it was because President Mnangagwa had “passed the exam” through economic growth and investment reforms.
“There are quite a lot of changes,” Mr Dangote said.
“Now the Government is solid. There is a lot of transparency. Also, when you look at what His Excellency (President Mnangagwa) has done in terms of turning the economy around, that really gave us the confidence that this is the right time for us to come and invest.
“It is like somebody, when you pass the exam, people have to give you a good mark. So His Excellency has passed that exam. That’s why we are here, to make sure that we give him a very big mark.”
The billionaire was accompanied to State House by a Bard Santner Markets Inc delegation and Zimbabwean journalist-cum-business advisor Josephine Mahachi, who facilitated the investment plan and visit.
His current investment plans align with the Government’s vision to create an empowered, modern and prosperous country by 2030.
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, gas and logistics.
Its operations span other critical business interests, including a large oil refinery, petrochemical plant and fertiliser complex in Nigeria and 16 other African countries.
Mr Dangote said the intended investments will run into billions of dollars.
“We have signed an agreement between Zimbabwe and Dangote Group to do various investments in various sectors, some of which, of course, are in cement, some of it in power generation, some of it in a pipeline to bring petroleum products,” he added.
Professor Mthuli Ncube (right) to Mr Dangote
“We are in the business of producing oil. We have the largest refinery in the world and a couple of other investments which we are looking at. It is a broader investment, really. It is in hundreds of millions of dollars, maybe even up to a billion. But really, it will be over a billion because of the pipeline.”
The meeting was attended by Cabinet ministers, who included Professor Mthuli Ncube (Finance, Economic Development and Investment Promotion), Mangaliso Ndlovu (Industry and Commerce), Ziyambi Ziyambi Justice (Legal and Parliamentary Affairs) and Kazembe Kazembe (Home Affairs and Cultural Heritage).
Zimbabwe has become an attractive tourism and investment destination owing to the Second Republic’s efforts to create a conducive business environment.
This week, Dutch billionaire Marcel Boekhoorn led a delegation that met President Mnangagwa at State House to present his intentions to expand his mining investments in the country.
Peter Tanyanyiwa