Dangote expands African investments with $1bn project in Zimbabwe

Africa’s leading industrialist and President of the Dangote Group, Aliko Dangote, has unveiled plans to invest $1 billion in Zimbabwe, further strengthening his company’s footprint across the continent.

The investment, announced after a high-level meeting with Zimbabwean President Emmerson Mnangagwa in Harare on Wednesday, will cover the development of cement and power plants, as well as a fuel pipeline, key sectors critical to Zimbabwe’s industrial and infrastructural growth.

Speaking to reporters after the meeting, Dangote said President Mnangagwa’s economic reforms had restored investor confidence in the country, making it an attractive destination for business.

“President Mnangagwa has turned the economy around. That really gave us the confidence that this is the right time for us to come and invest,” Dangote said.

Zimbabwean media outlet Zanu PF Celebs Official shared footage of Dangote’s visit to the State House, where he was received by Dr Paul Tempter Tungwarara, the Presidential Special Advisor on Investment. According to the report, the meeting centred on “strengthening investment cooperation and accelerating Zimbabwe’s economic development agenda.”

Sources confirmed that discussions focused on large-scale projects in cement manufacturing, coal mining, and power generation, areas where the Dangote Group has deep expertise and a proven track record. The engagement, they added, demonstrates Zimbabwe’s renewed efforts to attract strategic investments and harness the potential of Africa’s largest industrial conglomerate.

This marks Dangote’s return to Zimbabwe after an earlier attempt to enter the market in 2015, when his company proposed a $400 million cement plant with a capacity of 1.5 million tonnes per year. That deal stalled under the previous administration of the late Robert Mugabe.

Dangote’s renewed push aligns with his broader strategy of expanding operations across Africa’s emerging economies. His conglomerate currently operates in more than 10 African countries, with investments spanning cement, fertiliser, sugar, and oil refining.

Only months ago, the Dangote Group signed a $2.4 billion agreement for a fertiliser plant in Gode, Ethiopia. Construction began in October, with the project expected to harness Ethiopia’s rich natural gas reserves to enhance agricultural productivity and food security across the Horn of Africa.

With the Zimbabwe investment, Dangote reinforces his long-term commitment to driving Africa’s industrialisation through large-scale, transformative projects. The initiative also supports the vision of a more integrated African economy, where regional production and trade serve as engines of sustainable development.