Zimbabwe News Update
zbc
3 min read
Nigerian business magnate and industrialist aliko dangote has commended president emmerson mnangagwa for steering zimbabwe towards economic stability and transparency, saying the country has created a strong foundation for investment and growth. Speaking during his recent engagement with president mnangagwa at state house in harare on wednesday, mr dangote said he was impressed by the progress zimbabwe has made since his last visit, describing the government as solid and the economic reforms as confidence-inspiring, sending a message that the country is open for business. Dangote, whose net worth stands at us$25 billion, signed a multi-sector investment deal worth over us$1 billion with the government through his dangote group.
“well, we have just actually signed an agreement between zimbabwe and the dangote group to do various investments in various sectors, some of which, of course, are in a broader discipline like cement, power generation, with some of it in the pipeline, and to bring petroleum products. “it’s a broader investment, really, in the hundreds of millions (united states dollars), maybe even up to a us$1 billion, but, you know, we will tell you the amount as we go. But really, it will be over us$1 billion because of the pipeline. There are quite a lot of changes between the time when we came and this time round. The government is solid. So, his excellency has passed that exam, and that is why we are here to make sure that we give him a very big mark,” mr dangote said.
Mr dangote likened president mnangagwa’s transparency in governance and accelerated economic performance to that of a student who had passed a critical test with distinction, saying the results of zimbabwe’s reform agenda were now visible. “there is a lot of transparency and also when you look at what his excellency (president mnangagwa) has done in turning the economy around, that really gave us the confidence to say look, this is really the right time to come and invest,” he said. Speaking after meeting the prominent businessman, president mnangagwa expressed optimism and said mr dangote’s interest in investing in the country is a clear testimony of zimbabwe’s positive economic growth.
“i received nigerian businessman and investor, mr dangote, who is in zimbabwe to explore investment opportunities across key sectors. Following our discussions, zimbabwe and the dangote group signed a global agreement focusing on energy, cement, fertiliser, and infrastructure development. This partnership reflects growing investor confidence in zimbabwe’s economic transformation agenda. “a major highlight is the regional oil refinery and pipeline project originating from walvis bay, namibia, which will traverse several sadc countries, including zimbabwe. The pipeline will enhance regional energy security and support industrial growth. In the area of fertilisers, the dangote group recognises zimbabwe’s strong agricultural base and its strategic role in regional food security.
Investment in local fertiliser production will significantly boost agricultural competitiveness and productivity. We welcome this collaboration as a milestone towards industrialisation, energy self-sufficiency, and sustainable growth in line with vision 2030,” he said. Dangote born april 10, 1957, is the founder and president/chief executive of dangote industries limited, the largest conglomerate in west africa. A graduate of al-azhar university in cairo, egypt. Dangote began his business career in 1978, trading in rice, sugar, and cement before he ventured into full-scale manufacturing. The group he founded currently has a presence in 17 african countries and is a market leader in cement on the continent.
One of the group’s subsidiaries, dangote cement plc, is the largest listed company in west africa and the first nigerian company to join the forbes global 2 000 companies list. Source: zbc news
