In a major endorsement of Zimbabwe’s economic reforms, Nigerian billionaire Aliko Dangote has announced plans to invest up to $1 billion in the country. The investment will fund new cement and power plants, as well as a fuel pipeline.
Dangote, Africa’s wealthiest person, revealed the plan after meeting with President Emmerson Mnangagwa. He expressed strong confidence, stating that Mnangagwa has “turned the economy around,” making the present the right time to invest.
This renewed commitment follows a failed $400 million cement plant deal from 2015 under the previous administration. The new, larger-scale investment signals a significant belief in Zimbabwe’s improved business climate and marks a major expansion for Dangote’s pan-African industrial portfolio
