Presidential Investment Advisor Dr Paul Tungwarara has emerged as a key figure in facilitating the return of Nigerian billionaire Mr Aliko Dangote to Zimbabwe, as the country moves closer to sealing a potential US$1 billion investment deal spanning cement manufacturing, coal mining, and power generation.
President Mnangagwa has officially approved Mr Dangote’s visit, which is being coordinated through Dr Tungwarara’s office, underscoring the administration’s renewed drive to attract major global investors in line with Vision 2030.
Speaking to The Herald, Dr Tungwarara confirmed the high-level engagement and revealed that both President Mnangagwa and Mr Dangote have been in continuous communication regarding the planned visit.
“The richest man in Africa is coming to Zimbabwe at the invitation of President Mnangagwa. The two have been in constant communication, and we are now finalising logistical aspects of the visit,” said Dr Tungwarara. “We are determined to ensure that this time, the engagement leads to tangible investment outcomes — unlike in 2015, when Mr Dangote visited but did not return.”
According to sources close to the talks, the Dangote Group is eyeing an integrated industrial venture that includes a cement plant, limestone quarry, coal mine, and a power generation unit — projects collectively valued between US$800 million and US$1 billion.
The visit, expected soon, is being facilitated by Bard Santner Markets Incorporated and Zimbabwean journalist-turned-business advisor Ms Josephine Mahachi, who has worked closely with both Dangote and local partners since his first visit a decade ago.
Ms Mahachi confirmed that a formal mandate for the visit has already been signed and credited Dr Tungwarara’s coordination for helping streamline discussions between the Dangote team and the Office of the President.
“This time, I have partnered with Bard Santner Incorporated, a distinguished financial institution, to ensure a seamless process. We are working directly with His Excellency President Mnangagwa through his investment advisor, Dr Paul Tungwarara,” said Ms Mahachi.
Mr Dangote, who chairs Dangote Industries Limited, runs one of Africa’s largest conglomerates with interests across cement, fertiliser, sugar, salt, oil, gas, and logistics. His company operates in 16 African countries and recently commissioned one of the world’s biggest oil refineries in Nigeria.
Mr Dangote’s previous visits to Zimbabwe in 2015 and 2018 laid early groundwork for possible collaboration, but shifting economic conditions prevented progress at the time. Now, with Dr Tungwarara spearheading coordination at the highest level, expectations are high that this time Zimbabwe will secure one of its largest private industrial investments in years.
“President Mnangagwa is serious about transformative, high-impact investments,” Dr Tungwarara emphasized. “This engagement signals Zimbabwe’s readiness to welcome serious partners who will contribute to the country’s industrialisation and job creation agenda.”
Mr Dangote’s visit is expected to signal renewed investor confidence in Zimbabwe and further consolidate the President’s efforts to turn the nation into a regional industrial hub by 2030.
