Dangote to Invest Over $1B in Cement, Energy Sectors of Zimbabwe

Dangote to Invest Over $1 Billion in Cement and Energy Sectors of Zimbabwe

Aliko Dangote, Africa’s richest man and the CEO of Dangote Group, has announced a landmark investment plan in Zimbabwe valued at over $1 billion.

This initiative marks a significant expansion of the conglomerate’s footprint in Southern Africa and is set to transform Zimbabwe’s industrial and energy landscape.

The investment will cover three major areas: cement production, power generation, and petroleum infrastructure.

The announcement came after Dangote met with Zimbabwean President Emmerson Mnangagwa in Harare, where both parties signed an agreement to formalize the projects. Dangote confirmed that the deal includes establishing cement and power plants, as well as constructing a pipeline to transport petroleum products into the country. He emphasized that the total investment exceeds $1 billion largely due to the inclusion of the pipeline project, which is expected to be a critical piece of infrastructure for Zimbabwe’s energy sector.

Dangote praised President Mnangagwa’s economic reforms, noting that the transparency and progress achieved under his leadership gave the conglomerate confidence to invest at this scale. He likened the reforms to “passing an exam,” suggesting that Zimbabwe’s government had demonstrated the credibility needed to attract large-scale foreign investment.

This is not Dangote’s first interest in Zimbabwe. Back in 2015, he expressed plans to build a $400 million cement plant with a processing capacity of 1.5 million tonnes annually. Although those earlier plans did not materialize, the new agreement signals a renewed and much larger commitment.

The cement plant envisioned under the current deal will contribute significantly to Zimbabwe’s construction industry, reducing reliance on imports and supporting infrastructure development.

The power generation component of the investment is equally vital. Zimbabwe has long struggled with electricity shortages, and Dangote’s entry into the sector could help stabilize supply, boost industrial productivity, and improve living standards.

The petroleum pipeline project will also address one of Zimbabwe’s persistent challenges: the high cost and logistical difficulties of importing fuel. By creating a direct pipeline, Dangote Group aims to streamline petroleum distribution and reduce costs for businesses and consumers.

This investment places Zimbabwe alongside other African nations where Dangote has made major industrial commitments.

In Ethiopia, the group recently began constructing a $2.5 billion fertilizer plant in partnership with Ethiopian Investment Holdings, expected to produce three million metric tonnes of urea annually.

In Zambia, Dangote Cement already operates a plant with a capacity of 1.5 million tonnes per year. These projects highlight Dangote’s strategy of expanding across Africa with large-scale industrial ventures that address critical infrastructure gaps.

For Zimbabwe, the deal represents more than just financial inflows. It signals growing investor confidence in the country’s economic trajectory and could serve as a catalyst for further foreign direct investment.

The cement, energy, and petroleum sectors are foundational to industrial growth, and Dangote’s involvement is likely to accelerate Zimbabwe’s efforts to modernize its economy and strengthen its regional competitiveness.

In summary, Dangote’s $1 billion-plus investment in Zimbabwe is a transformative development that promises to reshape the nation’s industrial and energy sectors.

With cement production, power generation, and petroleum infrastructure at its core, the initiative is poised to deliver long-term benefits for Zimbabwe’s economy, while reinforcing Dangote Group’s position as a leading force in Africa’s industrialization.