ED clears path for Dangote’s visit to Zimbabwe

STAFF WRITER President Emmerson Mnangagwa has given the greenlight to Nigerian billionaire Aliko Dangote’s official visit to Zimbabwe, marking a major breakthrough in plans to finalise his long-awaited US$1 billion investment in cement manufacturing, coal mining, and power generation. The high-profile visit, expected soon, is being facilitated by Bard Santner Markets Incorporated and Zimbabwean journalist-turned-business adviser Josephine Mahachi. It is also supported by Presidential Investment Advisor Dr Paul Tungwarara and the government. President Mnangagwa’s greenlight clears the way for Mr Dangote to travel to Harare for high-level meetings aimed at cementing the investment roadmap, which aligns with Vision 2030, the President’s blueprint to transform Zimbabwe into an empowered, upper-middle-income economy. Dr Tungwarara confirmed the approval, saying it reaffirms the government’s commitment to attracting high-impact investors to Zimbabwe. “The richest man in Africa is coming to Zimbabwe at the invitation of President Mnangagwa. The two have been in constant communication, and we are presently working on the logistical aspects of the visit. We are keen to ensure that he makes a significant investment in Zimbabwe and avoid what happened during his previous visit in 2015, when he came but did not return,” said Tungwarara. Sources close to the deal revealed that the Dangote Group plans to establish a fully integrated cement factory, a limestone quarry and grinding plant, alongside a coal mine and power station — projects collectively estimated between US$800 million and US$1 billion. Ms Mahachi, who played a central role in coordinating Dangote’s 2015 visit, confirmed that the President had officially approved the trip. “As much as I had hoped to keep this confidential until the right moment, it has proven challenging given the stature of the individual involved. As you may recall, I played a key role in facilitating Mr Dangote’s visit in 2015, and I firmly believe that everything unfolds in God’s perfect timing. “I am pleased to confirm that Mr Dangote will be returning to Zimbabwe in the near future to explore new investment opportunities. While the exact date is yet to be finalised, a formal mandate has already been signed. “This time, I have partnered with Bard Santner Incorporated, a distinguished financial institution, to ensure a seamless and well-coordinated process. “Furthermore, we are working on this initiative directly with His Excellency President Mnangagwa through his investment advisor, Dr Paul Tungwarara,” said Mahachi. Bard Santner’s executive banker, Sikhosana, said preparations were underway to ensure the success of the multi-sector investment. “We are pleased to confirm that Mr Aliko Dangote will be visiting Zimbabwe to pursue a big investment project in the mining and power sectors. Our role is to ensure that the project is successfully consummated and to bring investment to the country. We are facilitators and financial advisors on this deal. Mr Dangote has long championed the vision of Africans investing in Africa — a philosophy that strongly aligns with our own ethos as a financial institution. We thank His Excellency President E.D. Mnangagwa and the Government of Zimbabwe for their unwavering support on this project and for enabling such a transformative investment which will spur other investment inflows, especially foreign direct investment, to boost economic development and create job opportunities for Zimbabweans.” Dangote, who chairs Dangote Industries Limited, a Lagos-based conglomerate with interests spanning cement, sugar, salt, fertiliser, real estate, oil and gas, and logistics, is Africa’s richest man and one of its most influential industrialists. The group operates in 16 African countries and is behind one of the world’s largest oil refinery and petrochemical complexes in Nigeria. Mr Dangote’s earlier visits to Zimbabwe in 2015 and 2018 laid the groundwork for collaboration, but the projects stalled due to circumstances at the time. With President Mnangagwa’s direct approval and support, expectations are high that the long-awaited investment will finally take off, potentially positioning Zimbabwe as a key industrial hub in southern Africa.

Cookie	Duration	Description
cookielawinfo-checkbox-analytics	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional	11 months	The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy	11 months	The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.

ED clears path for Dangote’s visit to Zimbabwe

Subscription Required

Related

Concern over rising cases of GBV

MPs fret over PSMAS rot

Harvesting from an unlikely source

ZACC probes Harare over US$200m deal

ED hands Mutinhiri diplomatic post

Munetsi’s Wolves stay in doubt

Subscription Required

Related

Dangote eyes Zimbabwe in fresh US$1bn investment push

Multiplier effect of pensions shapes development momentum

Related Articles

Tax dragnet closes in on fuel firms

Delta to commission new production line in November

Old Mutual lists tomorrow

Councils complicit in illegal settlements: Zanu PF