By Own Correspondent  

AFRICA’s richest man, Aliko Dangote’s recent announcement of a whopping US$1 billion investment plan in Zimbabwe is set to create thousands of jobs for the locals.

The recent  visit marked the second bold attempt to invest in the Southern African nation following initial efforts almost a decade ago which failed to see the light of the day due to tariff disputes, and allegations of bribe demands, prompting the tycoon’s team to leave the country disappointed.

The heavily import dependent nation presents lucrative investment opportunities exposing the widening trade deficit which reached approximately US$2.1 billion, driven by imports growing faster than exports. While exports grew by 3% to US$7.4 billion, imports increased by 4% to US$9.5 billion, resulting in a 6% expansion of the deficit.

The tycoon touched the ground in the morning and spent almost the whole day at State House where he held discussions and signed a number of agreements with the President Emmerson Mnangagwa and his top officials.

Speaking to the media shortly after the meeting, the Nigerian based tycoon confirmed that over a billion dollars will be invested in the country.

“We have just signed an agreement between Zimbabwe and the Dangote Group to do various investments in various sectors. Some of which of course are in cement manufacturing, power installation and to bring petroleum products. You know I am also in the business of producing   petroleum. We have one of the largest refineries in the world,” he said.