Nigeria’s Dangote Group, one of Africa’s largest industrial conglomerates, has announced plans to invest $1 billion in Zimbabwe across key sectors, including cement production, mining, and energy, as part of its regional expansion strategy.
The announcement follows a meeting between representatives of Dangote Industries Limited and officials from Zimbabwe’s Ministry of Industry and Commerce in Harare. The investment package is expected to support infrastructure growth and job creation in the southern African nation, which is seeking to attract more foreign direct investment to boost its manufacturing and energy sectors.
A senior Dangote executive told reporters that feasibility studies are underway for a cement plant and power generation project, with land allocations and regulatory clearances already in progress. “Zimbabwe has immense potential for industrial growth, and we are committed to being part of that transformation,” the executive said.
According to Bloomberg and The Herald Zimbabwe, the Zimbabwean government has expressed optimism about the investment, noting that Dangote’s entry aligns with its ongoing drive to revive industrial capacity and diversify exports under the National Development Strategy 1 (NDS1).
