Aliko Dangote Invests Over US$1 Billion in Zimbabwe

Aliko Dangote Invests Over US$1 Billion in Zimbabwe

Aliko Dangote is a Nigerian businessman and philanthropist. He is the founder and CEO of the Dangote Group, West Africa's largest conglomerate with operations in 17 African countries. His group is the continent's leading cement manufacturer and is also involved in other sectors, including agriculture and a large oil refining, petrochemical, and fertilizer complex. Dangote Cement Plc is West Africa's largest publicly listed company. By the end of 2025, Dangote was considered the world's richest Black person, with a fortune exceeding US$30 billion, largely due to his cement and oil businesses. The Dangote Group is a leading cement manufacturer and is also active in other sectors, including agriculture and a large oil refining, petrochemical, and fertilizer complex. Dangote Cement Plc is the largest publicly listed company in West Africa. As a leading African cement manufacturer, Dangote Cement operates cement plants in ten countries with a production capacity of over 51 million tons per year. He founded the Dangote Group in 1977, initially trading basic foodstuffs such as sugar and rice, before expanding into manufacturing and large-scale industrial projects. Dangote is also known for his philanthropic work through the Aliko Dangote Foundation, which he endowed with US$1.25 billion to promote health, education, and economic empowerment in Africa. He has also received numerous national and international awards, including the title of Grand Commander of the Order of Niger, and has served as an advisor for Nigerian election campaigns and global economic forums. According to the Zimbabwean Ministry of Information, Aliko Dangote has signed a significant investment agreement for the construction of cement plants, power stations, a fuel pipeline, cement industry facilities, energy sector infrastructure, oil pipelines, and a production facility. Dangote, which operates cement plants in ten countries, had already expressed interest in investing in Zimbabwe in 2015. Its plans included the construction of a $400 million Dangote Cement Plc plant with an annual processing capacity of 1.5 million tons. However, this project, along with several others discussed at the time, fell through due to difficult negotiations with then-President Robert Mugabe. In 2015, Dangote made another attempt and signed an investment agreement with the Zimbabwean government in Harare. The investment comprises an integrated industrial complex with a cement plant, coal mine, and power station, as well as a pipeline for transporting petroleum products. The deal is worth at least $1 billion and represents a significant contribution to Zimbabwe's industrialization. Dangote praised the political stability and transparency under President Emmerson Mnangagwa as key reasons for its renewed investment decision. In contrast, Dangote praised President Emmerson Mnangagwa for his efforts toward reforms, transparency, and the successful revitalization of the country's economy. "That has given us confidence that now is the right time to invest," Dangote remarked. @https://www.bloomberg.com/news/articles/2025-11-12/dangote-says-he-plans-to-invest-up-to-1-billion-in-zimbabwe @https://en.wikipedia.org/wiki/Aliko_Dangote