Africa’s richest man, Aliko Dangote, said on Monday that he planned mining and power generation projects in investment-starved Zimbabwe as well as to set up a large cement factory.
Dangote met with Zimbabwe’s President Robert Mugabe in Harare in a rare sign of possible foreign investment for Zimbabwe. The country has been in economic decline for more than a decade.
Dangote told journalists that he and the President had had a good meeting and he explained to the president that they had decided to invest in three areas, power, cement and coal sectors.
The Nigerian billionaire said he would spend close to $400m on the cement plant, which will produce a million and half tons of cement a year, making it the biggest in the country.
He said the investment package would create jobs and help Zimbabwe develop its economy as well.
Dangote is the head and founder of multi-billion dollar Dangote Group. The group has interests in cement production in several countries.
He is ranked by Forbes magazine as 67th richest person in the world and the richest in Africa
