The government has signed a multi-sectoral global investment agreement with Africa’s richest man, Aliko Dangote, marking a major step in renewed economic cooperation between the two parties.
The deal, sealed after a meeting between Dangote and President Emmerson Mnangagwa in Harare on Wednesday, paves the way for investments worth over US$1 billion in cement production, power generation, and fuel supply.
Dangote said the agreement reflects his confidence in Zimbabwe’s “improved transparency and business climate,” contrasting it with his first visit in 2015 when proposed projects failed due to bureaucracy and corruption.
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“There is a lot of change between that time when we came and right now it’s solid,” Dangote said.
“What President Mnangagwa has done in turning the economy around gave us the confidence to say this is the right time to invest.”
Under the new deal, Dangote Industries Limited will undertake projects in cement manufacturing, independent power production, and petroleum logistics, including plans for a fuel pipeline.
Further details on project timelines and implementation are expected to be announced as the investment programme rolls out.
