Nigeria’s Dangote Group will make investments at the least $1 billion in a pipeline, energy era and cement plant in Zimbabwe, its founder and CEO Aliko Dangote mentioned on Wednesday.
Dangote, Africa’s richest man, met Zimbabwe President Emmerson Mnangagwa and signed an funding settlement with the federal government on Wednesday morning.
“We now have simply signed an settlement between Zimbabwe and the Dangote Group to do varied investments in varied sectors a few of that are in fact cement, energy era and a pipeline to convey petroleum merchandise,” Dangote advised reporters in Harare.
He mentioned the pipeline would complement the Dangote Group’s plans to ascertain the largest oil refinery on the earth.
The industrialist beforehand visited Zimbabwe in 2015, then beneath the late President Robert Mugabe who was changed by Mnangagwa after a 2017 coup, however deserted plans to put money into the southern African nation for unclear causes.
Requested what had modified, Dangote mentioned: “There are various modifications between that point after we got here and now. The federal government is stable, there may be a whole lot of transparency.”
The Dangote Group has operations in 17 African international locations and one among its subsidiaries, Dangote Cement , is a number one cement producer on the continent.
