Source: NEW: Billionaire businessman Dangote arrives in Zimbabwe – herald
Online Reporter
NIGERIAN billionaire businessman Mr Aliko Dangote has arrived in Zimbabwe to explore opportunities to establish a vast cement, coal mining and power generation complex in a deal worth about US$1 billion.
In a post on her X handle this morning, accompanied by a picture of the serial investor, journalist-cum-business adviser Mrs Josephine Mahachi said: “He is here Zimbabwe”.
Earlier, the Office of the President and Cabinet confirmed that Mr Dangote will be meeting President Mnangagwa on Wednesday morning.
It is believed that Mr Dangote’s business safari to the region, where he is already operating, will massively boost Zimbabwe’s profile as an attractive destination for foreign direct investment and create new development and job opportunities.
His investment plans align with the Government’s vision to create an empowered, modern and prosperous country by 2030.
The billionaire runs Dangote Industries Limited, a Lagos-based diversified conglomerate with 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, petro-chemical plant and fertiliser complex in Nigeria and 16 other African countries.
Sources say in Zimbabwe, the Dangote Group wants to build 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.
Mr Dangote previously visited Zimbabwe in 2015 and 2018 in a bid to invest in the same areas, but the plan did not materialise at the time.
He has now renewed his interest after being approached by executives of a local Harare-based financial advisory firm and a business facilitator.
The investment plan and visit are being facilitated by Bard Santner Markets Inc and Mrs Mahachi.
Bard Santner is a local financial advisory firm that specialises in corporate finance, asset management, wealth management, microfinance and remittances.
The meetings with Mr Dangote started in June this year during the 32nd Afreximbank Annual Meetings held in Abuja, Nigeria, from June 25 to 28.
Mr Dangote delivered a moving address at the Afreximbank gathering, underlining the need for Pan-African investments and regional and economic development and integration, taking advantage of the continental free trade agreements, as well as value addition.
The African Continental Free Trade Area agreement, to which Zimbabwe is an active participant, creates a single continental market for goods and services, aiming to boost intra-African trade, economic growth and industrialisation.
A Bard Santner delegation to the Afreximbank meeting, led by company chief executive officer Mr Senziwani Sikhosana, met with Mr Dangote to initiate the current dialogue and process on investment.
After that, Mr Sikhosana and Bard Santner executives, including executive directors Mr Tatenda Hungwe and Mrs Lucia Chingwaru, visited the Dangote Group to see and better understand what he has been doing in other countries.
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