The Sunday News
MATABELELAND North is poised for a major economic transformation following Africa’s richest man Mr Aliko Dangote’s decision to invest in the country, amid indications that two of the three ventures he has earmarked for Zimbabwe could be set up in the province.
Mr Dangote, who owns Dangote Group was in the country last week and told President Mugabe that he wanted to invest in cement manufacturing, coal mining and thermal power station construction. The cement manufacturing plant is estimated at $400 million.
While in the country, Mr Dangote also met the country’s two Vice-Presidents — Emmerson Mnangagwa and Phelekezela Mphoko — as well as several Government officials, among them acting Minister of Industry and Commerce, Dr Obert Mpofu.
In an interview, Dr Mpofu said although the location of the projects were yet to be identified, Matabeleland North, by virtue of its vast coal deposits would benefit from Mr Dangote’s coal mining and thermal power station construction venture.
“The province is blessed with abundant coal deposits and the fact that coal feeds into thermal power generation makes it logical for the ventures to be set up at one place. The identification of the actual places for the venture has not been done but Matabeleland is the destination,” he said.
Dr Mpofu said a team of technical evaluators from Dangote Group is expected in the country this week and is supposed to meet officials from the Zimbabwe Investment Authority (ZIA).
ZIA is the country’s investment promotion body set up by the Ministry of Economic Planning and Investment Promotion to stimulate and facilitate foreign direct investment and local investment.
Cabinet, Dr Mpofu said, has already moved to speed up Mr Dangote’s proposed ventures by unanimously endorsing the Nigerian billionaire’s decision to invest in Zimbabwe’s critical economic sectors.
“Cabinet overwhelmingly endorsed his decision to invest here. This is not a proposal, mind you, but a decision already made by a serious investor. Dangote categorically stated even to President Mugabe that his is a decision already made,” he said.
The expedition of Mr Dangote’s investment dove-tails with plans number three and five in the Ten Point Plan enunciated by President Mugabe during his State of the Nation Address recently.
To foist economic growth and create employment opportunities for the masses, President Mugabe pronounced that Government will focus on infrastructural development, particularly in the key energy, water, transport and ICTs sub-sectors. Plan number five encourages private sector investment.
Mr Dangote told journalists soon after meeting President Mugabe that his visit was highly fruitful and promised that his team will be back in no time to make a follow-up.
“We had a very, very good meeting with the President and I briefed him that we have already decided to invest in three areas.
“The first one is to do with power (generation), second one is cement (manufacturing) and the third one is coal (mining),” he said.
“Our team will be back in the country next week to execute this plan and what we have already planned to do in terms of investment, to create jobs and also to help Zimbabwe to develop their own economy.”
The investment by the Nigerian billionaire is also in tandem with the Infrastructure and Utilities cluster of the country’s economic blue print, the Zimbabwe Agenda for Sustainable Socio-Economic Transformation (Zim Asset).
The Infrastructure and Utilities cluster spells out that “in order for the Zimbabwean economy to register growth in a manner that is both competitive and effective, there is a need for the country to undertake work in critical areas such as the development of a robust, elaborate and resilient infrastructure.”
The Infrastructure cluster is concerned with the revamping of infrastructural assets and the reclamation of amenities in the country. These services relate to among other areas, energy and power supply.
