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Nigerian Billionaire Seeking Business Opportunities in Zimbabwe

  • Chris Gande

Nigerain billionaire Aliko Dangote

Nigerain billionaire Aliko Dangote

The visit to Zimbabwe by Africa’s richest man, Nigerian billionaire Ali Dangote, has brought some excitement to the country’s beleaguered business community following reports that the businessman is planning to invest in the impoverished nation.

Dangote, who has invested more than $400 million into a cement plant in Zambia, met with President Robert Mugabe and a number of government ministers on Monday.

Dangote told reporters in Harare that he had discussed with Mr. Mugabe his interests in investing in power, cement and coal projects.

"We had a very, very good meeting with the president and I told him that we have already decided to invest in three areas, one is power, second one is cement and third one is coal," Dangote told journalists.

Dangote is Africa's richest man as well as the richest man in Nigeria with a net worth of $17.7 billion as of August 2015 according to Forbes.

Economic analyst Prosper Chitambara with the Labor and Cconomic Development Institute of Zimbabwe, told VOA Studio 7 Dangote’s move to invest in Zimbabwe is welcome, adding it may encourage other potential investors to go to the country to seek investment opportunities.