Dangote to Build $1 Billion Industrial Complex in Zimbabwe After Refinery Expansion
- Aliko Dangote’s African expansion plans just received a massive boost, as the billionaire moved to invest $1 billion in Zimbabwe
- The Nigerian business mogul disclosed that his conglomerate would build a $1 billion industrial complex in Zimbabwe
- The complex would integrate cement production, coal mining and power generation
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Africa’s richest man, Aliko Dangote, has unveiled plans to invest $1 billion in a new industrial complex in Zimbabwe, marking another bold step in his mission to drive Africa’s industrial transformation.
The project will integrate cement production, coal mining, and power generation, and is expected to become one of Zimbabwe’s largest private industrial investments in more than a decade.
Source: Getty Images
Dangote intensifies push for Africa's industrialisation
According to Business Insider Africa, discussions between Dangote Group representatives and Zimbabwean officials began during the Afreximbank Annual Meetings in June. Momentum has since gathered for a high-level meeting between President Emmerson Mnangagwa and the Nigerian billionaire.
Tungwarara, an aide to President Mnangagwa, confirmed that the government is working to ensure Dangote’s visit results in a firm investment commitment.
“We are keen to ensure he makes a significant investment in Zimbabwe and avoid what happened in 2015 when he came but did not return,” a Zimbabwean outlet quoted him as saying.
The 67-year-old business magnate is expected to meet with senior officials to finalise mining concessions, tax incentives, investment security, and regulatory approvals.
Dangote announces ambitious refinery expansion
The development comes shortly after Dangote announced plans to expand his 650,000-barrel-per-day Lagos refinery to 1.4 million barrels per day, a move that would make it the world’s largest refining facility.
The refinery's expansion plan, which has received support from the Nigerian government and the Afreximbank, will reportedly gulp $5 billion and is expected to be completed in 2027.
Dangote’s expansion into Zimbabwe aligns with the group’s long-term vision to industrialise Africa, lower operational costs, and strengthen raw material integration.
More jobs for Africans
Experts say the complex could boost Zimbabwe’s foreign direct investment inflows, create thousands of jobs, and position the country as a regional hub for cement and energy production.
Operating in 17 African countries, the Dangote Group continues to play a defining role in reshaping the continent’s industrial and economic landscape through ventures spanning cement, fertiliser, energy, and logistics.
Source: Getty Images
Dangote’s net worth hits $30 billion
Legit.ng earlier reported that Africa’s wealthiest man, Aliko Dangote, finally crossed a net worth of $30 billion, the first time any African has achieved such a feat.
According to the Bloomberg Billionaires Index, Dangote increased by $2.25 billion to $30.3 billion as of October 24, 2025, ranking him 73rd among the world’s richest individuals.
The latest surge in Dangote’s wealth follows the recent commissioning of Dangote Cement’s new 3-million-tonne-per-year plant in Attingué, Côte d’Ivoire.
Proofreading by Funmilayo Aremu, copy editor at Legit.ng.
Source: Legit.ng
