Cynthia Ezegwu
Aliko Dangote, President and Chief Executive of the Dangote Group, has announced plans to invest up to $1 billion in Zimbabwe to develop cement and power plants, as well as a fuel pipeline.
Dangote disclosed the plans on Wednesday after a meeting with Zimbabwean President Emmerson Mnangagwa in Harare. “Mnangagwa has turned the economy around. That really gave us the confidence that this is the right time for us to come and invest,” he said.
The visit, which was documented by Zimbabwean media on social media platforms, included an official reception at the State House by the Presidential Special Advisor on Investment, Dr. Paul Tempter Tungwarara. Discussions focused on strengthening investment cooperation and accelerating Zimbabwe’s economic development agenda.
According to Bloomberg, Dangote’s planned investments will span cement production, coal mining, and power generation. The engagement underscores Zimbabwe’s efforts to attract strategic investments by leveraging Dangote’s industrial capacity and influence across Africa.
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Dangote had previously explored similar investments in Zimbabwe in 2015, including a $400 million cement plant with a processing capacity of 1.5 million tons annually. However, those plans did not materialise following negotiations with then-President Robert Mugabe.
The businessman has recently expanded his footprint in Africa, signing a $2.4 billion fertiliser plant deal in Gode, Ethiopia, in August 2025. Construction began in October, with the facility expected to utilise Ethiopia’s abundant natural gas reserves from the Hilal and Calub fields to boost agricultural productivity, create jobs, and improve food security across the Horn of Africa.
The proposed Zimbabwean investments are seen as part of Dangote Group’s broader strategy to deepen its industrial presence and promote economic growth across the continent.