Investor Dangote expected Wednesday

Herald Reporter

Africa’s billionaire Aliko Dangote is expected to visit Zimbabwe this week to tie up business deals estimated to be around US$1 billion covering multiple sectors including cement, coal mining and power generation.

He is scheduled to visit the country this Wednesday in a fresh bid to strike new deals in key sectors with the potential to spur Zimbabwe’s economic growth.

On this business mission, the Nigerian billionaire will meet President Emmerson Mnangagwa and other top government and private sector officials to map out the investment deals. 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.

Dangote, a world-renowned business mogul, wants to set up 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 said.

“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 pursuing in Zimbabwe,” he said.

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 petrochemical plant and a fertiliser complex in Nigeria. It also has operations in 16 other African countries.