Key Points

• Dangote meets Zimbabwe’s president to finalise a $1 billion cement and power deal.
• The project will create jobs and strengthen energy supply across the country.
• Talks focus on guarantees to protect the investment from policy instability.

Nigerian billionaire Aliko Dangote will visit Zimbabwe this week to finalise plans for a $1 billion industrial project that combines cement production, coal mining, and power generation, according to people close to the talks.

The visit will include a meeting with President Emmerson Mnangagwa to conclude negotiations on mining rights, tax incentives, and investment guarantees.

The deal has been under discussion for several months and gained traction during the Afreximbank meetings in Abuja in June.

Key Investment Talks Advance

Harare-based Bard Santner Markets Inc. has been coordinating the discussions, led by Chief Executive Senziwani Sikhosana and investment facilitator Josephine Mahachi.

On the government side, presidential investment adviser Paul Tungwarara has overseen the necessary regulatory clearances.

If approved, the project would be one of Zimbabwe’s largest private investments in over a decade.

Officials say it could create thousands of jobs, expand cement capacity, secure local coal supplies, and boost power generation for industries struggling with shortages.

Renewed Push After Past Delays

Dangote has explored Zimbabwe before, with earlier attempts in 2015 and 2018 that stalled.

This time, negotiations are further along, with identified project sites, environmental clearances, and energy off-take agreements already outlined.

If successful, Dangote would join another Nigerian investor, Benedict Peters of Aiteo Group, whose company Bravura Holdings holds a platinum concession in Selous and a lithium project in Kamativi targeting first production in 2025.

Cement, Coal, and Power Integration

Zimbabwe presents an attractive opportunity for Dangote Industries, which operates in 17 African countries across cement, sugar, oil refining, and food production.

The country has abundant limestone and coal reserves, frequent cement shortages, and an unstable power grid that needs reliable new generation.

Sources said Dangote’s visit aims to turn draft agreements into binding contracts, beginning with the cement plant before expanding into coal and power.

Both sides are also expected to finalise policy guarantees that protect the project from future regulatory shifts.

If all terms are signed, construction could begin shortly after the visit, paving the way for a major boost to Zimbabwe’s industrial sector.

Reviving Industrial Confidence

Zimbabwe’s government has been seeking large-scale private investments to support its economic recovery.

Dangote’s renewed interest signals growing confidence among foreign investors willing to test the country’s commitment to policy stability and industrial reform.