Dangote team back in Zim

AN advance team for Africa’s richest man, Aliko Dangote, landed in Harare yesterday on a 10-day scouting mission for fresh business opportunities in the coal and power generation sectors, after initial attempts were blocked during former President Robert Mugabe’s reign nearly three years ago.

BY XOLISANI NCUBE

Led by its geologist, Naresh Kumar, the Dangote team said they were exploring opportunities in coal mining with a view to setting-up a power generation plant.

Kumar said they were looking at investing over a billion dollars, adding Dangote would visit Zimbabwe in the next few weeks to seal the business deals.

“We are targeting coal mining, but for now we are here to look for the mines and see how many we can get,” Kumar said.

Dangote was in Zimbabwe in 2015 after being lured by businesswoman, Josey Mahachi, but the billionaire failed to invest even a cent due to allegations of bribe demands by Mugabe’s Cabinet ministers.

The technical team was met at Robert Gabriel Mugabe International Airport by Buy Zimbabwe chairman Anxious Masuka as well as chief executive officer, Munyaradzi Hwengwere who said they would fully support the Dangote group’s renewed bid to invest in Zimbabwe.

“We hope this time around things won’t go off the rail, we hope that our government officials will not employ bureaucratic tendencies that would jeopardise this kind of investment,” Masuka said.

In 2015, Dangote made headlines when he visited the country to scout for possible investment. He has interests in cement manufacturing, energy, mining and agriculture.

He met Mugabe at State House and his team made numerous trips from Nigeria to Zimbabwe — all in vain.

Mahachi said she hoped President Emmerson Mnangagwa’s administration would expedite the Dangote group investment endeavours in Zimbabwe.


“We are looking at an investment opportunity of close to $1,5 billion,” she said.

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8 Comments

  1. This is simply a knee-jerk reaction to ED visit to China, they are fearing losing deals to China. Same with EU and other international bodies who flocked Zim the past few days. Real investment will only come after a credible election not under this coup government.

  2. ko nigeria apedza kuinvesta here?tinoda mabritish nemaAmericans

    1. That is a backward way of thinking. Investment is investment, even if it is from Nigeria. That is why black people never advance.

  3. This man is taking Zim for a ride. There is nothing he can offer, just after his publicity as a rich man. Fuck him off!!!

  4. All three comments coming from very shallow thinking minds indeed.

    Munorwadziwa yere kuti nyika yakubudurira under ED.Zimbabwe is bracing from an investment led recovery instead of a debt led recovery

    The former takes slightly longer than the latter.The advantage of an investment led recovery is that government doesn’t bear much debt which can be a problem for the coming generations which is us the youths.While on the other hand a debt led recovery can be catastrophic for the long term.

    Also give points on the somewhat good austerity policies that are slowly being noticed.

    Restructuring of investment policies are also bearing fruit.

    this man MR ED is surely bringing green shoots to our economy.

    I call on all educated youths with common sense understanding to see the difference and appreciate wat ED has done so far.

    1. tONY, the article is about Dangote and his lip investment in Zim, which started well ago when Ed was sucking Mugabe’s ass. You have a shallow mind dude if any.

  5. Gunu1235@ gmail comza

    Comment…uyaphupha Tony uphuphe mini libalele yini enziwe ngu ED wakho lo ecacayo,uthi ufundile kodwa umqondo wakho umfishane,i dont like ED wakho lo and zanu pf pls pls sithingithingi ndini,Chamisa has my vote

  6. u may not like him.but let’s be realistic,everything we have been complaining about the last 37 yrs under Mugabe regime is/has been rectified to some degree.

    indigenization,red tape,international engagement etc

    If u are doubting any changes, ask urself why bond/USD, transfer/bond rates are coming down.

    ask itself why the Zimbabwe stock exchange has stabilised

    ask urself why big USA mega cap companies like GE are considering investing.

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