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Video:African billionaire to set up cement plant in Zim

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Nigerian billionaire Aliko Dangote says his group will set up an integrated cement plant in Zimbabwe which will be bigger than all his plants.

Nigerian billionaire Aliko Dangote says his group will set up an integrated cement plant in Zimbabwe which will be bigger than all his plants.

Ndamu Sandu

The proposed investment is a major boost for the country that is seeking foreign direct investment to help rebuild the economy.

Aliko Dangote arrives at the Munhumutapa building
Aliko Dangote arrives at the Munhumutapa building

Dangote, who is Africa’s richest man with a net worth of $17,2 billion according to Forbes magazine, flew into Zimbabwe this morning.

In an interview with journalists after meeting Vice President Emmerson Mnangagwa, Dangote said his team was in the country to scout for investment opportunities and invest “like we have been doing in all the other African countries”.

“We want to set up an integrated cement plant here that will be bigger than all the plants that we have. We look at setting up something that can translate into a million and half tonnes so that even when we continue to use cement, there won’t be a shortage of cement here. We will make cement available,” he said.

Dangote said he had “a very good discussion with the Vice President and we discussed issues about areas of investment, areas of our interest”.

We would be sending a team next by week to look at areas these where we have interests,” he said.

Asked when the plant would be set up, Dangote said the timeframe depends “on getting all the recommended mining licences”.

“If we get it this year we will start construction by first quarter next year. We will move in very fast. It all depends with the government,” the billionaire said.

Dangote also Foreign Affairs minister Simbarashe Mumbengegwi, Energy and Power Development minister Samuel Undenge, Tourism minister Walter Mzembi and Mines and Mining Development minister Walter Chidakwa.

Early this month, Dangote Group opened up a cement plant in Ndola, Zambia.

The Dangote Group is into cement manufacturing and importing, sugar manufacturing and refining, salt refining, flour and semolina milling and noodles and pasta manufacturing among others.

The Dangote Group has cement manufacturing plants in South Africa, Zambia, Senegal, Ethiopia, Congo Republic, Gabon and Tanzania.