Source: Zim economy can be turned around within 10 years – NewsDay Zimbabwe May 18, 2017
ZIMBABWE’S economy might be turned around within 10 years if government prioritises Ziscosteel as it is still relevant, former Parastatals minister, Gorden Moyo has said.
BY MTHANDAZO NYONI
Speaking at a discussion meeting on the re-industrialisation and economic revival of Zimbabwe in Bulawayo recently, Moyo said Ziscosteel was a game-changer in the Zimbabwean economy and government should prioritise it.
“In Zimbabwe, if we prioritise Ziscosteel and say we are going to ensure that the re-industrialisation in Zimbabwe is going to be centred around Ziscosteel because Ziscosteel used to employ over 5 000 people and it was one of the largest steel makers in Southern Africa,” Moyo said.
“Today, it is still relevant. There is lot of infrastructural construction around the world. So we need Ziscosteel.
When you raise Ziscosteel, you automatically need NRZ (National Railways of Zimbabwe) because NRZ has to move your coal to Ziscosteel.”
“So naturally, you have got your NRZ working and firing. But when NRZ is firing, it means Hwange Colliery mine has to work because you need coal to be collected by NRZ to be taken to Ziscosteel.”
Moyo said once those three were working, definitely Sable Chemicals that produces oxygen that is needed in steel making, would be needed.
“Once that is done, it simply means you now need your Zesa. You can’t do without energy. A lot of energy is needed by these four or five industries. If these five industries are being taken care of, in terms of that level of manufacturing, Zimbabwe will be back.
“You don’t need 20 years to get Zimbabwe back. Ten years Zimbabwe would be back and would be competing with other countries.”
The company officially closed last year after it terminated the contracts of its employees. Before the termination, the company was as good as closed after haggling during the era of the inclusive government stalled the entry of Indian firm Essar Africa Holdings in a deal worth $750 million.
Before that, an Indian firm Global Steel Holdings Limited had been given management control of the steel giant on the promise of injecting $400 million. The money never came.