Mnangagwa vows to resuscitate Ziscosteel

Government is working on modalities to resurrect the “sleeping” iron and steel giant Ziscosteel within the first 100 days of Emmerson Mnangagwa’s presidency.


Addressing chiefs in the Midlands capital, Gweru, on Saturday, Mnangagwa said his government has plans to ensure that Ziscosteel became operational within 100 days since assuming power.

“Ziscosteel and Shabanie Mines are part of our 100-day plan and they should be open within that period, we are working on it,” he said.

The iron and steel manufacturer which, at its peak, had a 5 000-strong workforce, officially closed its doors in 2016 and laid off what was left of its workers without paying them terminal benefits. Most of its infrastructure, equipment and spares have either been vandalised or looted over the years of the company’s redundancy.

The steel company workers’ union leader, Cheneso Jack was reportedly fired after accusing management of looting close to $1 million worth of spares and stock at the firm.

Industry, Commerce and Enterprise Development minister Mike Bimha said all the work to ensure that Ziscosteel will open within the 100 days had been done.

“I don’t want to disclose much information at the moment, but to say it is within our 100-day work plan to ensure that Ziscosteel is open,” he said.

The company is saddled with a $400 million debt, which includes workers’ terminal benefits, pensions, wages and salaries.

Chinese firm R&F is expected to pour in $1 billion into Ziscosteel, an investment which is expected to change the fortunes of Redcliff town, according to deputy mayor Vincent Masiiwa.

“If that investment comes through, it will change the fortunes of the council and that of our people who have been unemployed for a very long time. Some have been going to work, but not getting a salary,” he said.

Ziscosteel’s revival will trigger growth in Hwange Colliery Company Limited, National Railways of Zimbabwe and other suppliers.
The steel giant has over the years caught the eye of investors across the world, but the multimillion dollar deals have fallen through due to various reasons ranging from bureaucratic bungling to corruption.

In 2006, Indian firm Global Steel Holdings Limited courted Ziscosteel and was to inject $400m in a rehabilitate, operate and transfer arrangement.

However, an investigation by the Parliamentary Portfolio Committee on Foreign Affairs, Industry and International Trade revealed the deal would disadvantage Zimbabwe.

In 2011, Essar Africa Holdings’s bid to take-over the moribund parastatal, in a deal worth $750 million also hit a brick-wall due to bickering in the inclusive government.


  1. Less and less of promises and more and more action on the ground would go a long way in proving this new gvt’s seriousness to rebuild the economy.Chimboitaiwo makanyarara mozopembedzwa zvichinge zvaita.

  2. we want to hera what you have done not what you intend to do and will fail anyway

    1. Nailed it dead centre!

  3. Nailed dead centre!… and we thought it was Mugabe alone who had these lofty ideas while thin on the ground with tangible deliveries..This is a recipe for disaster!!!!!

  4. mnangagwa is clueless

  5. mnangagwa clueless.we are witnessing the same old rhetoric

  6. u can coup the president not the economy.ed ur days are numbered dont u ever forget that.#illegimate government

  7. These dinosaur factories are in serious teouble all around the world. New investors pour in millions only for them to fail again. They are dirty, poulluting monsters, and digging more coal to support a steel factory is even worse! Invest in new clean factories run on solar or renewable power sources – factories producing new clean technologies would be great.
    Build or construct new vehicles such as garbage trucks that burn the trash and convert it directly into fuel to make the vehicle go like they use in Japan – no landfill, no plastic bags or other rubbish.
    Come on Zimbabwe – this is the best opportunity EVER !

  8. Shabanie & mashava, ZISCO, ZIMASCO, Kamativi etc etc will all be running in 100 DAYS. To start due diligence on these companies will take not less than 6 months!!!! Negotiating a deal and signing one another 6 months. Mobilisation of resources and all the lot that goes into resuscitating a dead factory another 2 to 3 year. I hope this is not a start of other MEGA DEALS AFTER MEGA DEALS???? If it happens within 100 days…this ED president can rule until death takes him away. For now let us sell airtime vouchers an tomatoes to survive.


    1. Spot on! Most of them will now even survive due diligence. Shabanie has Mawere cloud darkening the legitimacy of any negotiators. ZISCO has the ESSAR chaos and with the same Bimha around, dont expect any due diligence to give a clean bill.

      AND best of all, most of the dead companies died and remained dead right under ED’s nose in Midlands!!

  9. he plundered it as a minister,getting tons of steel and not paying,started his own Africa Steel company ,nhasi you claim in your 100 days ..tongoona hedu

  10. A company that died under your watch and failed to come back for decades – still under your nose. And you hope to get it going in 100days.

    No comment

  11. Zimbabweans???? Your great learning is making you made. Nothing is impossible on all that has been said. Except in the mind of our learned MBAs and Doctors etc all need deep analysis which takes 2 years etc. Lets teach our MBAs that the research they take 2wo yrs to do can be done in two weeks.

  12. Kuwiriranakwakanakakugarakunzwanana Garanewakohamandishe

    Comment…Moitaseyi neUniversity yave paShabanie mine?

  13. Itai tione mudhara

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