Business & EconomyMining


By Staff Reporter

The government has secured US$460 million for the revival of ZISCO Steel, in tandem with Vision 2030.

President Emmerson Mnangagwa said this as he took his by-election campaign rallies to the Midlands Province, where thousands of party supporters were in attendance.

Addressing a bumper crowd at Mbizo stadium, Cde Mnangagwa confirmed that government has secured funding for the revival of ZISCO STEEL, which is being partnered by Kuvimba Mining House.

“You have heard what was announced last week that Kuvimba Mining House has partnered ZISCO in its revival. ZISCO used to drive our industrialisation, but whites sabotaged us. Now government has secured the 460 million dollars required. We used to take companies from the region, but now we say ‘the country is built by its own people’. So, the company, which is owned 65% owned by government, is now there. We also have Manhize Steel Plant, which has an investment over a billion dollars,” he said.

President Mnangagwa said government has implemented economic and electoral reforms to attract global capital, while re-engagements with the European Union are bearing fruit. 

“Regarding International Relations, engagement and re-engagement… Zimbabwe is open for business. Zimbabwe is a friend to everyone and an enemy to none and we must be a friend with every country. We have done economic and electoral reforms in order to attract global capital to come to Zimbabwe. We have made tremendous progress to ensure that we attract foreign capital. You have seen EU has removed other people on sanctions and we are in talks with good news expected in the next few months.”

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