Africa’s richest man Aliko Dangote’s plans visit to Zimbabwe to finalise US$1 billion investments took a major step on Monday after he met the deal’s facilitators Bard Santner Markets Incorporated in Nigeria to finalise the arrangement.
Dangote, a billionaire from Nigeria, is eyeing investments in cement manufacturing, coal mining and power generation.
He met Bard Santner Markets Inc chief executive Senziwani Sikhosana at his offices in Lagos to finalise his visit. The advisory firm has been working with Zimbabwean journalist-cum business advisor Josephine Mahachi.
President Emmerson Mnangagwa has reportedly given the greenlight for Dangote to visit Harare over the investment proposal.
Mnangagwa’s investment advisor Paul Tungwarara confirmed the visit, which he said confirmed the government’s commitment to attracting high-impact investments.
“The richest man in Africa is coming to Zimbabwe at the invitation of President Mnangagwa,” Tungwarara told the state controlled media.
“The two have been in constant communication and we are presently working on the logistical aspects of the visit.
“We are keen to ensure that he makes a significant investment in Zimbabwe and avoid what happened during his previous visit in 2015, when he came, but did not return.”
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There were claims that some top officials in late president Robert Mugabe’s administration demanded bribes from the billionaire, which forced the Dangote Group of companies to rethink investing in Zimbabwe at the time.
This time the Dangote Group is said to be considering setting up a fully integrated cement factory, a limestone quarry and grinding plant as well as a coal mine and power station.
The projects are said to be estimated at between US$800 million and US$1 billion.
Mahachi was also quoted at the weekend confirming Dangote’s imminent visit.
“As much as I had hoped to keep this confidential until the right moment, it has proven challenging given the stature of the individual involved,” she said.
“As you may recall, I played a key role in facilitating Mr Dangote’s visit in 2015, and I firmly believe that everything unfolds in God’s perfect timing.
“I am pleased to confirm that Mr Dangote will be returning to Zimbabwe in the near future to explore new investment opportunities. While the exact date is yet to be finalised, a formal mandate has already been signed.
“This time, I have partnered with Bard Santner Incorporated, a distinguished financial institution, to ensure a seamless and well-coordinated process.”
Sikhosana said his firm’s role was to be financial advisors in the pending deal.
Our role is to ensure that the project is successfully consummated and to bring investment to the country,” he said. “We are facilitators and financial advisors on this deal.”
