Africa’s richest man, Nigerian billionaire Aliko Dangote, plans to invest $400 million in constructing a large cement factory in Zimbabwe.
Dangote revealed this on Monday while addressing a group of journalists in Harare on Monday, after meeting with Zimbabwe’s President Robert Mugabe and Vice President Emmerson Mnangagwa. He also said he intends to invest in coal mining and power generation in the country.
“We want to set up an integrated cement plant here that will be bigger than all the plants that we have. We look at setting up something that can translate into a million and half tonnes so that even when we continue to use cement, there won’t be a shortage of cement here. We will make cement available,” he said.
Dangote said he had “a very good discussion with the Vice President and we discussed issues about areas of investment, areas of our interest”.
We would be sending a team next by week to look at areas these where we have interests,” he said.
Asked when the plant would be set up, Dangote said the timeframe depends “on getting all the recommended mining licences”.
“If we get it this year we will start construction by first quarter next year. We will move in very fast. It all depends with the government,” the billionaire said.
Dangote also spoke to Foreign Affairs minister Simbarashe Mumbengegwi, Energy and Power Development minister Samuel Undenge, Tourism minister Walter Mzembi and Mines and Mining Development minister Walter Chidakwa.
Early this month, Dangote Group opened up a cement plant in Ndola, Zambia.
The Dangote Group is into cement manufacturing and importing, sugar manufacturing and refining, salt refining, flour and semolina milling and noodles and pasta manufacturing among others.
The Dangote Group has cement manufacturing plants in South Africa, Zambia, Senegal, Ethiopia, Congo Republic, Gabon and Tanzania.