Africa’s richest man prepares for a major investment in Zimbabwe

September 2, 2015 OPINION/NEWS

 

By

Mathew Masinge

Nigerian billionaire Aliko Dangote, reportedly Africa’s richest man, is set to build an integrated cement plant, power generation and coal mining operation in Zimbabwe which will be larger than any of his current plants.

The anticipated investment will be a favourable boost for the country which needs more foreign direct investment in rebuilding its economy.

Dangote, who has been rated Africa’s richest man in Forbes Magazine, with a net worth of $17.2 billion, met with Zimbabwe’s first Vice President Emmerson Mnangagwa.

 

index4
             Aliko Dangote meets with Emmerson Mnangagwa

 

Addressing journalists after his meeting with the Vice President, Dangote said his team is already doing the ground work and preparing to come to Zimbabwe soon.

“Just as we have been doing in all the other African countries, we are going to set up an integrated cement plant in Zimbabwe and this one will be bigger than all the plants that we have. We are looking at setting up something that can translate into a million and half tonnes so that even when we continue to use cement, there won’t be a shortage of cement here. We will make cement available. We would be sending a full team next by week to look at areas where we have interests” he said.

Dangote stated that his meeting with the Vice President yielded positive aftermaths.

“I am pleased to say that I had a very good discussion with the Vice President and we discussed issues that directed me to areas of investment, areas of our interest” he said.

Dangote said building the plants will depend on how quickly his firm gets the required licences.

“We have placed our application for licences and if we get them we will start construction by the first quarter next year. We will move in very fast. It all depends on the government” the billionaire said.

 

Aliko-Dangote-Forbes-Africa-May-Issue-on-BellaNaija.com_-458x600

 

 

The billionaire also met with Zimbabwean Foreign Affairs minister Simbarashe Mumbengegwi, Energy and Power Development minister Samuel Undenge, Tourism minister Walter Mzembi and Mines and Mining Development minister Walter Chidakwa.

Founded in 1981, the Dangote Group is into cement manufacturing and importing, sugar manufacturing and refining, salt refining, flour and semolina milling and noodles and pasta manufacturing, among others.

The Dangote Group has cement manufacturing plants in South Africa, Senegal, Ethiopia, Congo Republic, Gabon and Tanzania and a recently opened plant in Zambia.

 

 

 

 

 

11065910_484057641760651_3419345228659084524_n

Mathew Masinge

Mathew is journalist, blogger and an actor based in Harare. He writes for the Herald, Zimbabwe’s largest daily newspaper.

1 Comment

Leave a Reply