Organisers who
want to remain unnamed for now say Mr Dangote’s business safari to the region,
where he is already operating, will massively boost Zimbabwe’s profile as an
attractive destination for foreign direct investment and create new development
and job opportunities.
His investment
plans align with the Government’s vision to create an empowered, modern and
prosperous country by 2030.
During his
expected visit, Mr Dangote intends to meet President Mnangagwa and senior
Government officials to discuss details of the investment plan.
The billionaire
runs Dangote Industries Limited, a Lagos-based diversified conglomerate with
vast business interests in cement, flour, sugar, salt, pasta, beverages,
fertiliser, real estate, oil and gas sectors, and logistics.
Its operations
span other critical business interests, including a large oil refinery,
petro-chemical plant and fertiliser complex in Nigeria and 16 other African
countries.
Sources say in
Zimbabwe, the Dangote Group wants to build a cement factory, limestone quarry
and grinding plant, coal mine and power station.
The projects
are cumulatively valued between US$800 million and US$1 billion.
Mr Dangote
previously visited Zimbabwe in 2015 and 2018 in a bid to invest in the same
areas, but the plan did not materialise at the time.
It is believed
he has now renewed his interest after being approached by executives of a local
Harare-based financial advisory firm and a business facilitator.
The investment
plan and visit are being facilitated by Bard Santner Markets Inc and Zimbabwean
journalist-cum-business adviser Mrs Josephine Mahachi.
Bard Santner is
a local financial advisory firm that specialises in corporate finance, asset
management, wealth management, microfinance and remittances.
Mrs Mahachi is
an award-winning Zimbabwe-born journalist, entrepreneur and business
facilitator.
It is believed
the meetings with Mr Dangote started in June this year during the 32nd
Afreximbank Annual Meetings held in Abuja, Nigeria, from June 25 t0 28.
Mr Dangote
delivered a moving address at the Afreximbank gathering, underlining the need
for Pan-African investments and regional and economic development and
integration, taking advantage of the continental free trade agreements, as well
as value addition.
The African
Continental Free Trade Area agreement, to which Zimbabwe is an active
participant, creates a single continental market for goods and services, aiming
to boost intra-African trade, economic growth and industrialisation.
A Bard Santner
delegation to the Afreximbank meeting, led by company chief executive officer
Mr Senziwani Sikhosana, met with Mr Dangote to initiate the current dialogue
and process on investment.
After that, Mr
Sikhosana and Bard Santner executives, including executive directors Mr Tatenda
Hungwe and Mrs Lucia Chingwaru, visited the Dangote Group to see and better
understand what he has been doing in other countries.
Asked for
comment, Mr Sikhosana said: “It’s too early to talk about these issues in the
public. When the right time comes, authorities and ourselves as facilitators
will make the necessary announcements.”
Mrs Mahachi
said she will only comment at the right time. Sunday Mail
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