North Korea has completed two statues of Zimbabwe's President Robert Mugabe, according to a news report, in Pyongyang's latest lucrative project in Africa.

The $5 million project is to mark the 90th birthday of the long-time leader of the southern African nation, the Telescope News reported last month.

The two statues, which began being crafted by Pyongyang in 2009, are believed to be ready for delivery, said the online news website, which specializes in African news.

The bigger bronze statue, worth $3.5 million, will be erected at a prominent place in Zimbabwe's capital city of Harare, while the smaller one with a price tag of $1.5 million is earmarked for the president's rural home in Zvimba, the website said, citing unidentified sources at Zimbabwe's National Museums and Monuments.

In 2010, North Korea also built a gigantic statue in Senegal in what the western African nation's president called a monument to Africa's renaissance. (Yonhap)