Home-grown solutions creating jobs: President
THE imminent reopening of the Zimbabwe Iron and Steel Company (Ziscosteel) in Redcliff, Kwekwe is a home-grown solution that will create thousands of jobs, as Government continues to implement domestic remedies to turnaround the economy, President Mnangagwa has said.
He said for years, Zimbabwe had been looking for solutions to resuscitate the steel giant in foreign lands when the way out was hidden in plain sight.
Addressing an oversubscribed ZANU PF star rally at Mbizo Stadium in Kwekwe yesterday, the ruling party’s First Secretary said funds to resuscitate the sleeping giant have been secured from a local company, Kuvimba Mining House, in which Government has a large shareholding.
“Ziscosteel is 89 percent owned by Government and 11 percent by other stakeholders. It was sabotaged to fail through economic sanctions and efforts to bring it back were being frustrated. So, we have said a country is built by its custodians. We used to reach out to foreign companies to run our companies and also sought foreign technology to assist in the revival of the company until we realised that we can pursue local solutions instead,” said President Mnangagwa.
He said the Government had settled for a proven investor among the list of local companies which had expressed interest in spearheading Ziscosteel’s resurgence.
“You saw the announcement we made last week, there is a need for over US$460 million to resuscitate Ziscosteel. So we entrusted Kuvimba, a local company in which Government owns more than 60 percent, with the task. We already have the US$460 million. You will see Ziscosteel firing again, we will bring back lost jobs. Kwekwe will be vibrant again,” said President Mnangagwa.
In its prime, Ziscosteel used to employ about 6 500 workers and sustained Redcliff, which has degenerated into a ghost town.
There have been multiple efforts to bring it back to life, but they have all flattered to deceive.
However, the Government is confident that this time it has found the right formula and the effects will extend to downstream beneficiaries.
President Mnangagwa said the Midlands province is on course to regain its footing as the country’s steel production hub with the US$1 billion Tsingshan Holdings plant in Manhize already
under construction.
“There is another company which has the biggest deposits of steel ore in Southern Africa. Currently it has over 32 billion metric tonnes of ore, which have been quantified in Manhize, Chirumhanzu. Construction work has already begun and within a year or so, we will have over 6 000 employees. A town of Kwekwe’s size is going to be born in Manhize.”
He told the thousands of ZANU supporters that he is confident that the country will reach its targets in the mining sector.
“Three years ago, when we entered the Second Republic, it (mining industry) was only worth US$2 billion. Right now, we are at US$6 billion. With the programmes we have, the mining sector will be at US$12 billion,” President Mnangagwa said.
Turning to the engagement and re-engagement programme, the President said Zimbabwe does not seek to make any enemies in its foreign policy.
“When we got into office we started re-engagement and engagement. Engagement is when we create new relations, re-engagement is with those we had relations with but they strayed along the way. Countries choose to either be an enemy to us, but we do not have any enemies. We do not seek hostilities against other countries but there are those that choose to stand against us and there is nothing we can do.
“The EU (European Union) removed some sanctions a few days ago. VP Chiwenga and ZDF Commander, General Phillip Sibanda, were removed from the sanctions list.”
He said during his recent trip to Belgium for the African Union and European Union summit in Brussels, AU Presidents urged their EU counterparts to see them as equal partners. “We told the EU to remove sanctions which were instigated by Britain to be imposed on Zimbabwe. Since Britain left the EU, we urged the EU to ensure that the country leaves with its baggage. We are engaged in discussions. In the next two months we will be giving you more good news,” said President Mnangagwa.
The President said every Zimbabwean has the DNA of the ruling party which gave birth to the nation.
He said while it was everyone’s democratic right to leave the revolutionary party to form their own political parties, the opposition should always bear in mind that ZANU PF was the source of those freedoms that Zimbabweans are enjoying.
“We must all remember that the mother to the birth of this Zimbabwe was ZANU PF and this is our home, a warm home,” President Mnangagwa said.
He said the revolutionary party will not be intimidated to lose focus by empty threats from the opposition but is forging ahead with its development agenda of achieving an upper middle income economy by 2030.
The rally marked the launch of ZANU PF’s campaign for the March 26 by-elections in the Midlands Province where there are five vacant National Assembly seats. At the rally, President Mnangagwa was accompanied by senior party members including Vice President and ZANU PF Second Secretary (Rtd) General Constantino Chiwenga, national chairperson Oppah Muchinguri-Kashiri, national political commissar Mike Bimha and Midlands provincial chairperson Cde Larry Mavima among others.