HARARE, Zimbabwe — Aliko Dangote, Africa’s richest man and chief executive of the Dangote Group, has announced a major investment agreement with the government of Zimbabwe, committing the conglomerate to projects valued at more than $1 billion across cement, power, and petroleum infrastructure.
Dangote disclosed the development to journalists on Wednesday, November 12, 2025, following a meeting with President Emmerson Mnangagwa in Harare.
The new deal marks one of the most significant foreign investment commitments Zimbabwe has secured in recent years, as the country seeks to stabilise its economy and attract global capital.
“… we have just actually signed an agreement between Zimbabwe and Dangote Group to do various investments in various sectors, some of which, of course, border on cement, some of it in power generation, and some of it in pipelines to bring petroleum products,” Dangote said.
He noted that the total investment will exceed $1 billion “because of the pipeline,” adding that the group is considering additional projects in the country.
Dangote praised Mnangagwa’s leadership, saying improvements in governance had boosted investor confidence.
“And also, when you look at what His Excellency has actually done in terms of turning the economy around, that really gave us the confidence that this is the right time for us to come and invest,” he said.
“And, you know, it’s like somebody, when you pass the exam, people have to give you a good mark. So His Excellency has passed that exam.”
The new deal marks a continuation of Dangote’s long-standing interest in Zimbabwe.
He previously announced potential investments in 2015, including plans for Dangote Cement to construct a $400 million plant with a capacity of 1.5 million tonnes annually.
That project did not materialise at the time, but the latest agreement signals a renewed commitment to the Zimbabwean market.
The investment also aligns with Dangote Group’s broader expansion across Africa.
On Sunday, October 5, 2025, the company began building a $2.5 billion fertiliser complex in Gode, Ethiopia, in partnership with Ethiopian Investment Holdings.
The project is expected to produce three million metric tonnes of urea annually, making it one of the largest fertiliser facilities globally.
In Zambia, Dangote Cement commissioned a 1.5 million tonnes per annum plant in 2015, solidifying its presence in the Southern African region.
The new Zimbabwean investment further deepens the group’s footprint in energy and industrial infrastructure across the continent.
With this agreement, Zimbabwe joins Ethiopia and Zambia as key destinations in Dangote’s continental investment drive, bolstering Harare’s ambition to re-engage international investors and rebuild critical infrastructure.
