ARGUABLY Africa’s richest man, Aliko Dangote, is scheduled to visit Zimbabwe this week to discuss a US$1 billion deal that straddles across investments in cement, coal mining and power generation.
Dangote’s much expected visit this Wednesday becomes his third after previously similar engagements with Zimbabwean authorities in 2015 and 2018 amid reports he withdrew interest following “absurd” conditions presented by government.
The State media reported that during his visit, the Nigerian billionaire will meet President Emmerson Mnangagwa and other top bureaucrats to cobble details of his envisaged investment plan.
“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,” reported the State-owned Sunday Mail.
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It further said sources privy to the deal say Dangote, who is the group chief executive officer, wishes 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 told The Sunday Mail that the businessman was keen to invest in the country.
“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 pursing in Zimbabwe,” the newspaper quoted its source.
Dangote Industries Limited, a Lagos-based diversified conglomerate, has 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 petro-chemical plant and a fertiliser complex in Nigeria. It also has operations in 16 other African countries.
Its largest subsidiary, Dangote Cement, has integrated factories and operations across 10 African countries, namely, Nigeria, Cameroon, Ghana, Senegal, Sierra Leone, Ethiopia, South Africa, Zambia, Tanzania and the Republic of Congo.
