Africa’s richest man, Aliko Dangote, is set to invest $1 billion in Zimbabwe, covering cement production, coal mining, and power generation.

The move marks a renewed effort by the Dangote Group to expand its industrial footprint across Africa, following previous but unsuccessful investment talks with Zimbabwean authorities in 2015 and 2018.

According to Paul Tungwarara, investment adviser to President Emmerson Mnangagwa, preparations are underway for a high-level meeting between the president and Dangote to finalise agreements on mining concessions, tax incentives, and regulatory approvals.

The project, if completed, will be one of Zimbabwe’s largest private industrial investments in over a decade, positioning Dangote strategically near the South African market.

This initiative aligns with Dangote’s broader pan-African industrial strategy, which includes operations in 17 countries and major ventures such as the $20 billion refinery in Nigeria and multiple cement and fertiliser plants across the continent.