Zambia Targets Energy Investment with Africa’s Richest Man

Zambia is positioning itself for a landmark energy sector investment following high-level discussions between President Hakainde Hichilema and Africa’s wealthiest entrepreneur, Aliko Dangote, at State House in Lusaka on Wednesday, November 12.

The talks centred on expanding Dangote Group operations in Zambia, particularly within the energy sector, “with the objective of fostering job creation, industrial growth and economic diversification,” Hichilema said in a statement on Thursday, November 13.

“We reaffirm our government’s commitment to maintaining a stable, transparent and investor-friendly environment that enables the private sector to thrive,” he added, highlighting Zambia’s ongoing efforts to attract foreign investmentunder its economic reform programme.

Dangote, whose conglomerate spans cement, sugar, salt, oil refining, and petrochemicals across more than ten African countries, has been instrumental in driving industrialisation across the continent.

The potential move into Zambia represents a significant milestone for the country’s investment portfolio, signalling confidence in Lusaka’s reform agenda and economic stability.

Hichilema lauded Dangote’s leadership as “a testament to the power of vision and determination,” emphasising the government’s readiness to collaborate with the private sector to unlock new growth opportunities.