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Africa’s Richest Man to Invest $400 Million In Zimbabwe, Plans a Cement Factory

 

Africa’s richest man, Aliko Dangote, has indicated plans to build a cement factory in Zimbabwe.

He also plans to invest in coal mining and power generation in the South African region.

Mr. Dangote disclosed this on Monday after a closed-door meeting with Zimbabwe’s vice president, Emmerson Mnangagwa.

He said the proposed plant would produce 1.5 million tonnes of cement yearly, Reuters reported.

“We’ve already decided to invest in Zimbabwe, that’s why we are here,” he was quoted as saying.

Mr. Dangote is billed to meet Zimbabwe’s President Robert Mugabe soon.

Although he did not state the estimated cost of the new plant, he affirmed that construction would commence in 2016, following the government’s approval.

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aliko dankote africa richest man nigerian

Mr. Dangote’s factory in Ethiopia, which was unveiled in March 2015, is presently the biggest cement plant in East Africa.

The plant, located about 85 kilometres from Addis Ababa, the Ethiopian capital, was built on 134 hectares of land with a production capacity of 2.5 million tons.

Another cement plant owned by the billionaire, opened in Senegal in April.

The plant is reportedly worth $300 million, and will employ 5,000 locals.

By Evelyn Okakwu

source premium times

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Written by PH

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