Dangote Group, led by Alhaji Aliko Dangote, has signed a $1 billion investment agreement with the Government of Zimbabwe to develop an integrated industrial complex.
The deal represents a significant milestone in Zimbabwe’s industrialization agenda under President Emmerson Mnangagwa’s Vision 2030, which targets transforming the nation into an industrialized, upper-middle-income economy within the next decade.
According to Zimbabwean officials, the investment will cut across key sectors such as cement manufacturing, energy, and mining.
The integrated project is expected to boost Zimbabwe’s manufacturing capacity and help tackle the country’s infrastructure and energy challenges.
The agreement also covers the development of a fully integrated cement plant with its own limestone quarry and grinding facility, aimed at reducing Zimbabwe’s dependence on imported cement and stimulating growth in the local construction industry.
Additionally, the investment includes plans for a coal mine and power plant to supply energy for Dangote’s operations and strengthen Zimbabwe’s overall power generation capacity.
Recall, it was reported late last month that Dangote was preparing to launch a $1 billion investment project in Zimbabwe, following renewed talks during the Afreximbank Annual Meetings held in Abuja in June, which revived negotiations between both parties.
Dangote’s latest visit to Zimbabwe comes after earlier investment missions in 2015 and 2018, during which preliminary discussions with the government failed to produce a concrete agreement.
The $1 billion investment is expected to create thousands of direct and indirect jobs, with a particular focus on addressing youth unemployment.
The industrial complex will also stimulate local supply chains, benefiting small and medium-sized enterprises engaged in logistics, raw material supply, and construction.
Officials estimate the total cost of the projects to be between $800 million and $1 billion, positioning it as one of Zimbabwe’s largest private-sector investments in recent years.
