HARARE
–
Africa’s
richest
man,
Aliko
Dangote,
was
in
Harare
on
Wednesday
for
exploratory
talks
with
the
Zimbabwean
government
on
investments
worth
more
than
US$1
billion,
saying
he
was
encouraged
by
economic
reforms
under
President
Emmerson
Mnangagwa.
Dangote,
whose
fortune
is
estimated
at
about
US$30
billion,
met
Mnangagwa
and
signed
a
framework
investment
agreement
with
the
government.
He
previously
visited
Zimbabwe
in
2015
and
2018,
expressing
interest
in
cement
production
and
energy
projects,
but
nothing
materialised
from
those
trips.
“There
are
quite
a
lot
of
changes,”
Dangote
told
reporters.
“Now
the
government
is
solid.
There
is
a
lot
of
transparency.
Also,
when
you
look
at
what
His
Excellency
(President
Mnangagwa)
has
done
in
terms
of
turning
the
economy
around,
that
really
gave
us
the
confidence
that
this
is
the
right
time
for
us
to
come
and
invest.
“We
have
signed
an
agreement
between
Zimbabwe
and
Dangote
Group
to
do
various
investments
in
various
sectors,
some
of
which
are
in
cement,
some
in
power
generation,
some
in
a
pipeline
to
bring
petroleum
products.
“We
are
in
the
business
of
producing
oil.
We
have
the
largest
refinery
in
the
world
and
a
couple
of
other
investments
which
we
are
looking
at.
It
is
a
broad
investment,
really,
in
hundreds
of
millions
of
dollars,
maybe
even
up
to
a
billion.
But
really,
it
will
be
over
a
billion
because
of
the
pipeline.”
Presidential
spokesman
George
Charamba
said
the
discussions
were
exploratory
and
no
specific
project
deals
were
concluded
on
Wednesday.
“What
was
signed
was
a
global
agreement
which
may
pave
the
way
to
investments
of
about
US$1
billion;
no
agreement
on
any
specific
deal
was
signed
today,”
Charamba
said.
He
described
Dangote’s
engagement
as
“inspiring,”
highlighting
his
strong
belief
in
African-led
industrialisation
and
continental
self-reliance.
“He
was
particularly
insistent
that
African
capital
is
key
to
the
development
of
the
continent,”
Charamba
said.
“He
debunked
the
myth
of
smallness,
citing
Singapore
as
an
example,
and
argued
that
a
country
is
as
big
as
its
trade
hinterland.
Small
economies
like
Zimbabwe
can
be
cheaper
sites
of
production
if
they
think
beyond
national
markets.”
The
Dangote
Petroleum
Refinery,
the
world’s
largest
single-train
refinery,
is
currently
constructing
storage
tanks
in
Namibia
to
hold
at
least
1.6
million
barrels
of
petrol
and
diesel
for
distribution
across
southern
Africa.
The
tanks
are
expected
to
supply
fuel
to
Botswana,
Namibia,
Zambia
and
Zimbabwe,
with
plans
also
under
consideration
to
serve
southern
Democratic
Republic
of
Congo.
Senziwani
Sikhosana,
the
CEO
of
Bard
Santner,
which
is
structuring
the
investments,
and
journalist-cum-business
adviser
Josephine
Mahachi
accompanied
Dangote
to
his
meeting
with
Mnangagwa.
Dangote
left
Zimbabwe
for
Zambia
after
his
meetings
in
Harare.