Reported by: Ime Richard Aondofa | Edited by: Henry Owen
In a landmark move to strengthen economic ties and boost industrial development, Dangote Industries Limited has signed a $1 billion investment agreement with the Government of Zimbabwe. The signing ceremony took place on 13 November 2025 in Harare, Zimbabwe, with key figures in attendance.
Present at the ceremony were Aliko Dangote, President and CEO of Dangote Industries Limited; Mthuli Ncube, Zimbabwe’s Minister of Finance and Investment Promotion; Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries Limited; and His Excellency, President Emmerson Mnangagwa of Zimbabwe. The agreement marks a historic partnership between one of Africa’s largest industrial conglomerates and the Zimbabwean government.
The deal follows previous exploratory visits by Dangote Group to Zimbabwe in 2015 and 2018, during which the company considered ventures in cement, coal mining, and power generation. Those earlier plans, however, did not materialize at the time.
Financial records indicate that Dangote Cement Plc already holds subsidiaries in Zimbabwe, including Dangote Cement Zimbabwe, Dangote Energy Zimbabwe, and Dangote Mining Zimbabwe, with a 90% ownership stake in these entities. The new $1 billion investment is expected to expand the company’s operations, create jobs, and further stimulate industrial growth in the country.
The signing reflects Dangote Industries Limited’s long-term commitment to Africa’s industrial development and underscores Zimbabwe’s efforts to attract large-scale investments to boost its economy.
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