Dangote Group, led by Africa’s richest man, Aliko Dangote, has signed a $1 billion investment deal with the Government of Zimbabwe to establish an integrated industrial complex.

The agreement marks a major step in Zimbabwe’s industrialization drive under President Emmerson Mnangagwa’s Vision 2030 agenda, which aims to transform Zimbabwe into an industrialized, upper-middle-income economy within the next decade

According to Zimbabwean authorities, the Dangote Group’s investment will span several sectors, including cement production, energy, and mining.

The integrated project is expected to strengthen Zimbabwe’s manufacturing base while addressing infrastructure and energy challenges.

The deal includes the development of a fully integrated cement factory equipped with a limestone quarry and grinding plant. The facility is expected to reduce the country’s reliance on imported cement and boost local construction output.

In addition, the investment covers the establishment of a coal mine and power station to support Dangote’s industrial operations and contribute to Zimbabwe’s energy supply.

Dangote’s visit to Zimbabwe follows earlier investment missions in 2015 and 2018, when initial discussions with the government did not result in a deal.

The deal includes the development of a fully integrated cement factory equipped with a limestone quarry and grinding plant. The facility is expected to reduce the country’s reliance on imported cement and boost local construction output.

In addition, the investment covers the establishment of a coal mine and power station to support Dangote’s industrial operations and contribute to Zimbabwe’s energy supply.

As part of the agreement, discussions were held on mining concessions, tax incentives, investment security, and work permits for technical experts involved in project implementation. The Zimbabwean government emphasized its readiness to provide a conducive investment environment to ensure project success.