Aliko Dangote, Africa’s richest man and a Nigerian industrialist, has signed a $1 billion investment agreement with the Zimbabwean government to support cement production, coal mining, electricity generation, petroleum pipelines, oil refining and fertilizer plants.
The agreement aligns with Zimbabwe’s Vision 2030 economic agenda, which aims to boost industrial output, create jobs and reduce reliance on imports. It was signed during Dangote’s visit to Harare, where he is exploring further investment opportunities.
“I met Nigerian businessman Mr. Aliko Dangote, who is in Zimbabwe to explore investment opportunities,” President Emmerson Mnangagwa posted on social media Thursday.
He wrote that Zimbabwe and the Dangote Group had reached a wide-ranging agreement that covers energy, cement, fertilizer and infrastructure development under Vision 2030.
Dangote leads one of Africa’s largest industrial groups and has been expanding operations across the continent. His company recently invested in Ethiopia and operates a major oil refinery in Nigeria, the largest in Africa.
