Africa’s richest man, Nigerian billionaire Aliko Dangote, is expected to visit Zimbabwe soon to explore a massive investment package estimated at between US$800 million and US$1 billion. The plan — which includes establishing a cement factory, coal mine, limestone quarry, and power generation plant — is poised to become one of the largest private investments in Zimbabwe’s recent history.
The Sunday Mail has learned that Dangote’s high-level business mission is part of a broader regional investment tour and comes amid renewed efforts to position Zimbabwe as a leading destination for foreign direct investment (FDI) in southern Africa. The visit, according to organisers who spoke on condition of anonymity, will “significantly boost Zimbabwe’s global investment profile and create new employment and industrial development opportunities.”
Mr Dangote, who heads the Lagos-based multinational conglomerate Dangote Industries Limited, is no stranger to Zimbabwe. He previously visited the country in 2015 and 2018, expressing interest in setting up similar projects. However, those plans did not progress at the time due to a combination of bureaucratic and logistical challenges.
This time, sources close to the negotiations say the billionaire’s renewed interest follows proactive engagement by local business leaders and facilitators who approached him earlier this year. The visit and investment discussions are being coordinated by Bard Santner Markets Inc., a Harare-based financial advisory firm, together with Zimbabwean businesswoman and media professional Mrs. Josephine Mahachi.
Bard Santner — led by chief executive officer Mr. Senziwani Sikhosana — specialises in corporate finance, wealth management, and capital markets advisory services. Mrs. Mahachi, who has a background in journalism and entrepreneurship, has been instrumental in re-establishing contact between Dangote’s team and Zimbabwean authorities.
According to sources, preliminary meetings between Bard Santner executives and Dangote took place in June during the 32nd Afreximbank Annual Meetings held in Abuja, Nigeria. During that event, Dangote delivered a powerful address advocating for greater Pan-African trade and industrial integration under the African Continental Free Trade Area (AfCFTA) — a platform to which Zimbabwe is a signatory.
After the Afreximbank meetings, Mr. Sikhosana and his team toured several Dangote facilities across Nigeria and Zambia to understand his group’s operations and potential areas of collaboration. “It’s too early to comment publicly,” Sikhosana told The Sunday Mail. “But when the time is right, all parties — including government — will make the necessary announcements.”
Africa’s Richest Man Aliko Dangote Eyes US$1 Billion Investment in Zimbabwe
Dangote Industries Limited is one of Africa’s most diversified conglomerates, with operations spanning cement production, sugar refining, salt, flour, beverages, fertiliser, oil and gas, and real estate. Its flagship subsidiary, Dangote Cement, has integrated factories in 10 African countries, including Nigeria, Zambia, Ethiopia, Tanzania, Ghana, and South Africa.
The group also operates a multi-billion-dollar oil refinery and petrochemical complex in Lagos — one of the largest industrial projects in Africa — and is expanding its fuel distribution footprint across the continent. In Namibia, Dangote Petroleum Refinery is developing a major fuel storage and distribution terminal at Walvis Bay, designed to supply petroleum products from Nigeria to southern African countries such as Botswana, Zambia, and Zimbabwe.
With his upcoming visit, Dangote appears to be extending his company’s southern African footprint further inland — a move that analysts say could strengthen regional supply chains and create synergies with Zimbabwe’s infrastructure and resource base.
In Zimbabwe, the Dangote Group’s planned project will centre on establishing a cement manufacturing plant, a limestone quarry and grinding mill, and an integrated coal mining and power generation facility. Collectively, these projects are valued between US$800 million and US$1 billion.
The investment is expected to contribute directly to Zimbabwe’s Vision 2030, which aims to transform the nation into an upper-middle-income economy through industrialisation, job creation, and sustainable growth. The projects could also reduce Zimbabwe’s reliance on imported cement and boost local supply for housing and infrastructure development.
Sources say the deal will also include discussions around mining concessions, tax frameworks, work permits for technical experts, and investment security guarantees. Dangote is expected to meet with President Emmerson Mnangagwa and senior government officials to finalise these details and outline a roadmap for implementation.
If successful, the project will employ thousands of Zimbabweans directly and indirectly — from construction workers to engineers, transporters, and service providers.
Reinforcing Zimbabwe’s Investment Appeal
Zimbabwe has in recent years stepped up efforts to attract foreign investors by improving its ease of doing business and modernising investment laws. The Second Republic has launched various reforms to provide guarantees on property rights, repatriation of profits, and streamlined licensing procedures.
Officials say Dangote’s renewed interest is proof that these reforms are yielding results. “Zimbabwe is fast becoming an attractive investment hub,” said one government source. “The Dangote investment would send a strong signal to global capital markets that Zimbabwe is open for serious business.”
Dangote’s potential billion-dollar investment would represent more than just a business deal — it would symbolise growing international confidence in Zimbabwe’s economic recovery and its long-term development plan.
For the billionaire, whose companies employ over 40,000 people across Africa, Zimbabwe offers a strategic opportunity to expand into a market rich in raw materials, with access to regional trade routes via the Beitbridge border post and Walvis Bay port.
As one of Africa’s foremost advocates of self-sustained industrialisation, Dangote has consistently called for Africans to “own their value chains” and invest in local processing of natural resources. His renewed focus on Zimbabwe aligns squarely with that vision — and could mark the beginning of a new chapter in Zimbabwe’s reindustrialisation journey.
If all goes according to plan, Dangote’s next stop in Harare may not just be a courtesy call — it could be the beginning of one of Zimbabwe’s most transformative industrial partnerships in decades.
Source- Herald
