Government secures US$460 million for ZISCO revival

By Bruce Chahwanda, Political Editor

President Emmerson Mnangagwa says government has secured US$460 million for the revival of ZISCO Steel, which will be one of the success stories of the Second Republic in line with Vision 2030.

The ZANU PF First Secretary and President made the annoucement this Saturday as he took his by-election campaign star 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.”

Cde Mnangagwa also took a swipe at opposition political leaders for threatening violence and giving back land to the country’s former colonisers.  

“It’s undemocratic to be violent against democracy. In spite of these empty threats, we continue to focus on building our nation brick upon brick, stone upon stone… I heard Biti saying when they get into government they are going to return the whites back on the land. Never. We took the land. It shall never be colonised again. It is now ours.”

The revolutionary party is confident of a landslide victory in the forthcoming by-elections owing to great developmental work which the second republic is undertaking in both urban and rural areas.