African billionaire and business magnate Aliko Dangote has signed a landmark $1 billion investment agreement with the Government of Zimbabwe, targeting cement manufacturing, coal mining, and power generation. The deal marks one of the largest single private-sector investments in the country’s recent history, positioning Zimbabwe as a new frontier for pan-African industrial expansion.
The partnership will establish an integrated industrial complex, featuring a state-of-the-art cement factory, a limestone quarry, and a coal-powered energy plant designed to support both Dangote’s operations and Zimbabwe’s national power grid. The investment, valued between $800 million and $1 billion, is projected to create thousands of jobs and stimulate local supply chains, particularly in mining, logistics, and construction.
The initiative aligns with President Emmerson Mnangagwa’s Vision 2030, which seeks to transform Zimbabwe into a prosperous, industrialized upper-middle-income economy. Discussions also covered mining concessions, tax incentives, investment security, and work permits for international technical experts.
Speaking at the signing ceremony, officials praised Dangote’s commitment as a “vote of confidence” in Zimbabwe’s economic reforms and investment climate. Once completed, the project is expected to not only boost cement production capacity but also enhance energy independence, accelerating Zimbabwe’s march toward sustainable industrial growth.
