africas richest man dangote plans zimbabwe investments
Last Updated : GMT 12:34:34
Arab Today, arab today
Arab Today, arab today

Africa's richest man Dangote plans Zimbabwe investments

Arab Today, arab today

Arab Today, arab today Africa's richest man Dangote plans Zimbabwe investments

Business magnate man Aliko Dangote
Harare - AFP

Africa's richest man, Aliko Dangote, said Monday that he planned mining and power generation projects in investment-starved Zimbabwe as well as to set up a large cement factory.

Dangote met with President Robert Mugabe in Harare in a rare sign of possible foreign investment for Zimbabwe, which has been in economic decline for more than a decade.

"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.

"We have already made up our minds to invest and so we are here and we will invest."

The Nigerian billionaire said he would spend close to $400 million on the cement plant, which will produce a million and half tonnes of cement a year, making it the biggest in country.

He said the investment package would create jobs and "to help Zimbabwe to develop their own economy."

Dangote is the head and founder of multi-billion dollar Dangote Group which has interests including cement production in several African countries.

The company also has major oil, gas, food and real estate investments across the continent.

Zimbabwe's economy has collapsed since Mugabe's land reforms of 2002, which broke the country's agricultural backbone.

Laws which require locals to hold majority stakes in all firms are also blamed for scaring off foreign investors.

Many companies have closed, downsized or relocated.

The International Monetary Fund said this year Zimbabwe's economic prospects looked "difficult", with growth falling again after a brief improvement.

Food shortages, rampant inflation, economic sanctions and disputed elections have added to the country's woes in recent years.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

africas richest man dangote plans zimbabwe investments africas richest man dangote plans zimbabwe investments

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

africas richest man dangote plans zimbabwe investments africas richest man dangote plans zimbabwe investments

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Airbnb raided by Japan

GMT 01:55 2017 Saturday ,18 November

Airbnb raided by Japan
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday