Africa’s richest man Dangote plans Zimbabwe investments
Africa’s richest man, Aliko Dangote, said on Monday that he planned mining and power generation projects in investment-starved Zimbabwe as well as to set up a large cement factory.
Dangote met with President Robert Mugabe in Harare in a rare sign of possible foreign investment for Zimbabwe, which has been in economic decline for more than a decade.
Zimbabwe’s power cuts to worsen
Zimbabwe’s two biggest electricity generation plants will start annual routine maintenance on Tuesday, leading to even deeper power cuts in the southern African nation, the state-owned utility said.
At best, Zimbabwe produces 1 345 megawatts (MW), half its peak demand, forcing local industries to use costly diesel generators to keep operations running. Electricity shortages have been blamed for keeping away potential investors.
The two power stations set for maintenance are Hwange, a coal-fired station in the west and Kariba hydro plant in the north, which jointly produce 90 percent of Zimbabwe’s power.