Dangote's Billion-Dollar Investment Boost in Zimbabwe

The Dangote Group, led by CEO Aliko Dangote, plans to inject $1 billion into Zimbabwe for a pipeline, power generation, and a cement plant. This agreement with President Emmerson Mnangagwa's government marks renewed interest in Zimbabwe after previous plans stalled under former leadership.

The Dangote Group, a major industrial conglomerate in Africa, has announced plans to invest a substantial $1 billion in Zimbabwe. This investment covers the construction of a pipeline, the establishment of power generation facilities, and the development of a cement plant, as confirmed by CEO Aliko Dangote during a meeting with Zimbabwean President Emmerson Mnangagwa.

The agreement represents a renewed interest in Zimbabwe by Dangote, who halted earlier investment initiatives under the former President Robert Mugabe. The new deal showcases the Dangote Group's strategic intention to expand its operations across 17 African countries, with Dangote Cement already being a significant player in the continent's cement manufacturing industry.

Dangote attributes the revival of interest to positive changes under the current Zimbabwean government, noting improvements in transparency and governance. This is positioned as a strategic move for the Dangote Group, particularly as it prepares to complement its upcoming large-scale oil refinery with the new pipeline venture.

(With inputs from agencies.)