In a landmark move set to transform Southern Africa’s industrial landscape, Nigerian billionaire Aliko Dangote has signed a US$1 billion investment agreement with Zimbabwe.
The ambitious project includes the construction of a fertiliser plant and a 2,000 km pipeline stretching from Namibia’s Walvis Bay, through Botswana, to Bulawayo, Zimbabwe’s second-largest city.
Dangote formalized the deal during a meeting with President Emmerson Mnangagwa in Harare on Wednesday, signing a Memorandum of Understanding that represents one of the most significant private-sector investments in Zimbabwe in recent years.
The investment reflects growing confidence in President Mnangagwa’s economic reforms and expands Dangote’s conglomerate led by Africa’s richest man further into Southern Africa.
“The broader investment is in the hundreds of millions of dollars, maybe even more than a billion. We’ll share more details as we progress, but it will really exceed a billion because of the pipeline,” Dangote stated.
A presidential spokesperson highlighted that the project could reshape Zimbabwe’s production landscape, potentially reducing fuel import costs. The agreement also sets the stage for further developments across energy, cement, and fertiliser production, as well as infrastructure expansion.
Dangote is reportedly planning a major fuel storage facility in Walvis Bay, a move expected to lessen Southern Africa’s reliance on fuel imports from Europe and Asia.
