Dangote group register company Aliko Dangote
Dangote

Mr Dangote

Harare Bureau
Dangote Group has formed a local investment arm that was registered on Tuesday to spearhead its prospective investments here. The group is a diversified conglomerate headquartered in Nigeria and operates in 14 other African countries, with Zimbabwe becoming its 15th investment destination on the continent.

Deputy Chief Secretary to the President and Cabinet Justin Mupamhanga, yesterday confirmed the development although he could not immediately name the new company. He said the government was doing everything possible to ensure speedy implementation of investment deals in areas that the group had shown interest in.

Dangote Group has expressed interest to invest in power generation, mining and cement manufacturing. Said Mupamhanga: “Basically, we are playing a facilitation role to reduce the waiting period on licensing and other things. “They registered their company on Tuesday and now they are putting their things in place. We are ready to facilitate easy programmes of investment and we hope this speed will apply to all other investors coming to Zimbabwe. We are trying to raise the banner on doing business in the country.”

As the government, Mupamhanga said they were happy with the way the deliberations were progressing.

“So far they have had meetings with the ministries of Energy and Power Development, Mines and Mining Development and other key State institutions,” said Mupamhanga.

It is understood that the team of technocrats from the Dangote Group, which is in the country to finalise the investment deals, was also set to meet officials from the Zimbabwe Revenue Authority and Zimbabwe Investment Authority, among other institutions.

Mines and Mining Development Deputy Minister Cde Fred Moyo yesterday confirmed that the team from Dangote Group met technocrats in his ministry on Tuesday. He said although he was yet to receive a full brief on their deliberations, he was aware that the team had expressed interest in a number of mining deposits including the asbestos producing Shabanie Mashava Mine.

“I know they have met geologists in the ministry and they have been interested in Shabanie-Mashava Mine,” he said. “I’m going to meet Shabanie (Mashava) chief executive to get a full briefing because this is one of our best deposits both by size and quality.” Secretary in the same ministry Professor Francis Gudyanga, said the Dangote Group had expressed keen interest on various limestone deposits around the country.

“As far as I know they are taking information they are studying. They are gathering information on various limestone deposits around the country. I can’t single out one deposit because we have many limestone deposits all over the country.” A six member delegation from the Dangote Group is in the country to finalise investment deals following a visit by its founder Aliko Dangote to Zimbabwe recently.

During his visit, Dangote met President Mugabe and his deputies Vice Presidents Emmerson Mnangagwa and Phelekezela Mphoko among other high ranking officials. After meeting President Mugabe at State House, Dangote told journalists that “we have already made our mind to invest” in Zimbabwe.

Zimbabwe is also in the process of finalising other mega investment deals that were signed by President Mugabe and President Xi Jinping of China in August last year.

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