In a landmark move set to transform Zimbabwe’s industrial landscape, Dangote Group, led by African business magnate Aliko Dangote, has signed a $1 billion investment agreement with the Government of Zimbabwe. The deal focuses on the development of an integrated industrial complex encompassing cement manufacturing, coal mining, and power generation.
This bold investment marks one of Zimbabwe’s largest private-sector commitments in over a decade, aligning strategically with President Emmerson Mnangagwa’s Vision 2030—an agenda aimed at transforming Zimbabwe into a prosperous, industrialised upper-middle-income economy.
According to Dangote Group, the project will significantly boost domestic cement production, ensure a stable coal supply, and expand power generation capacity, thereby supporting the nation’s manufacturing and infrastructure development ambitions. The initiative is also expected to create thousands of new jobs and stimulate economic activity across multiple value chains.
While previous attempts by Dangote Industries to establish operations in Zimbabwe in 2015 and 2018 encountered regulatory and logistical challenges, this new venture is reported to be better structured and more viable, with identified project sites, streamlined permitting processes, and secured energy off-take agreements.
If successfully executed, Dangote’s investment will position him among the growing ranks of prominent Nigerian investors in Zimbabwe, alongside figures such as Benedict Peters of Aiteo Group, whose subsidiary, Bravura Holdings, is advancing major platinum and battery-minerals projects in the country.
Zimbabwe offers strategic advantages for Dangote Industries, including abundant limestone and coal reserves, a cement market still reliant on imports, and opportunities to strengthen national energy infrastructure.
The investment also reinforces Zimbabwe’s commitment to regional economic integration as a member of the African Continental Free Trade Area (AfCFTA), promoting intra-African trade and industrial cooperation.
“This project represents a renewed confidence in Zimbabwe’s industrial and policy landscape,” said Mark-Anthony Johnson, CEO of JIC Holdings. “It reflects Africa’s growing capacity to attract and retain transformative investments that advance sustainable development under the AfCFTA framework.”
As Dangote Group expands its footprint across 17 African markets, this Zimbabwean venture underscores the company’s long-term vision of driving self-reliant growth and industrial capacity across the continent.
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