Zim GBC News | Business Reporter
HARARE – In a significant economic development, the Government of Zimbabwe and the continental conglomerate, Dangote Group, have signed a comprehensive agreement paving the way for major investments in the country’s energy, cement, fertilizer, and infrastructure sectors.
The announcement was made on Wednesday by the Deputy Chief Secretary for Presidential Communications, Mr. George Charamba, who described the pact as a “global agreement” covering the areas where the Nigerian-based group has expressed interest.
A key transnational project under discussion is a massive oil refinery and a sub-regional pipeline stretching over 2,200 kilometres from Walvis Bay in Namibia to Zimbabwe.
“The pipeline will land in Bulawayo but will reach Harare via Gweru. This new investment project is sure to change the production structure of Zimbabwe,” Charamba stated via his X (formerly Twitter) handle.
He further elaborated on the strategic importance of the fertilizer investment, linking it directly to regional food security.
“In respect of fertilizers, the Dangote group appreciates that Zimbabwe is an accomplished Agricultural Economy and is slotted to play a key role in subregional food security, as already stated by WFP.
The missing link has been investments in fertilizers which render Zimbabwe’s agricultural commodities uncompetitive when benchmarked against global prices,” Charamba said.
This agreement signals a reset in relations between Zimbabwe and the business empire of Aliko Dangote, Africa’s richest person. Nearly a decade ago, plans by the group to build a cement plant and invest in coal mining stalled due to bureaucratic delays and licensing disputes, creating a diplomatic row and casting a shadow over the country’s investment climate.
This new deal represents the most substantial multi-sector investment commitment from the Dangote Group in Zimbabwe since those initial exploratory visits, marking a potential new chapter for foreign direct investment in the country.
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