President of the Dangote Group, Aliko Dangote arrives at the National Palace to attend the fertilizer complex shareholder investment agreement signing ceremony between Ethiopian Investment Holdings and Dangote Group, in Addis Ababa, Ethiopia, August 28, 2025,
Dangote, recognized as Africa’s richest man, met Zimbabwean President Emmerson Mnangagwa in Harare, where he signed an investment agreement with the government earlier in the day. Speaking to reporters after the signing, he said: “We have just signed an agreement between Zimbabwe and the Dangote Group to do various investments in various sectors, some of which are of course cement, power generation and a pipeline to bring petroleum products.”
According to Dangote, the planned pipeline will complement the company’s broader energy strategy, including its ongoing efforts to develop the largest oil refinery in the world. The investment is expected to enhance Zimbabwe’s industrial capacity and support regional energy infrastructure.
Dangote’s visit to Zimbabwe follows an earlier trip in 2015, when the country was under former President Robert Mugabe. At that time, plans for investment were shelved for unspecified reasons. Since then, leadership changes and policy reforms have reshaped Zimbabwe’s investment climate.
When asked about the renewed decision to invest, Dangote said: “There are quite a lot of changes between that time when we came and now. The government is solid, there is a lot of transparency.” His remarks reflected optimism about the current business environment and confidence in the government’s commitment to attracting foreign investment.
The Dangote Group operates in 17 African countries and is one of the continent’s largest industrial conglomerates. Its subsidiary, Dangote Cement (DANGCEM.LG), is among Africa’s leading cement producers, with operations that supply materials for both domestic and export markets. The planned Zimbabwean plant is expected to contribute to the country’s construction sector and generate new employment opportunities.
The announcement aligns with Zimbabwe’s efforts to stimulate foreign direct investment and diversify its energy and manufacturing sectors. The combination of the proposed pipeline, power generation facilities, and cement production signals a comprehensive industrial initiative aimed at boosting local production and reducing reliance on imports.
With the signing of this agreement, the Dangote Group’s entry into Zimbabwe represents a strategic expansion of its operations and underscores the growing role of African companies in driving regional economic development through large-scale industrial projects.
