By Dalena Reporters — Harare / Lagos — 12 November 2025
In a major move expanding his pan-African industrial footprint, Nigerian industrialist Aliko Dangote announced on Wednesday that his company, the Dangote Group, will invest at least US$1 billion in Zimbabwe, covering a multi-sector deal that includes cement manufacturing, power generation and a petroleum products pipeline. The investment agreement was signed following meetings in Harare between Dangote and Zimbabwean President Emmerson Mnangagwa.
Dangote told reporters the deal encompasses:
- A cement plant and associated limestone/quarry operations in Zimbabwe.
- A power generation facility, likely paired with mining and industrial operations to anchor the investment.
- A pipeline to transport petroleum products, part of the Dangote Group’s broader ambitions within Africa’s refined-petroleum sector.
After meeting President Mnangagwa, Dangote stated:
“We have just signed an agreement between Zimbabwe and the Dangote Group to undertake various investments in various sectors, some of which are of course cement, power generation and a pipeline to bring petroleum products.”
He added the pipeline would “complement” the Dangote Group’s ongoing plan to build the world’s largest oil refinery—a theme central to his strategy of integrating refining, logistics and manufacturing across Africa.
Zimbabwe had previously hosted discussions with Dangote back in 2015 under former President Robert Mugabe, but the deal did not materialise then. This time, Dangote reasoned the changed environment—including “solid government, a lot of transparency” under Mnangagwa’s leadership—made the investment viable.
Analysts say Zimbabwe provides several attractions to Dangote:
- Existing limestone and coal resources for cement and power operations.
- A regional manufacturing base with proximity to southern African markets.
- A government keen to attract large-scale industrial investment under its Vision 2030 agenda.
For Zimbabwe, securing a US$1 billion commitment from Africa’s leading industrialist is a significant win, potentially creating thousands of jobs, boosting manufacturing capacity and supporting energy infrastructure.
For Dangote Group, it is a strategic extension beyond its core Nigerian market into southern Africa, aligning with his vision of cross-continent industrial networks.
However, investors will watch for execution risks: Zimbabwe still faces policy unpredictability, infrastructure bottlenecks and currency risk—factors that previously derailed past deals.
Dangote’s own commentary acknowledged the delays of prior efforts, indicating a more careful negotiation this time.
The deal marks a milestone in African industrial collaboration: a Nigerian conglomerate committing large-scale capital not just in Nigeria but across the continent. If achieved, it could strengthen Zimbabwe’s industrial base and underscore Dangote’s role as a pan-African builder. Yet success will hinge on follow-through, regulatory stability and infrastructure readiness.
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