Zimpapers Logo

Midlands Bureau
Steel manufacturer, Ziscosteel, is set to get a new board after Government retired the entire board that had been in office for the last decade. Industry and Commerce Minister Nqobizitha Mangaliso Ndlovu confirmed in an interview that the board led by Mr Nyasha Makuvise had overstayed and has been retired to pave way for a new one.

“We have retired the entire old board, the new one is expected anytime soon,” he said. “In fact, I already have the names and they are awaiting the approval of President Emmerson Mnangagwa.

“Under normal circumstances, the board is supposed to be in office for two terms of four years, that is a total of eight years in office. We are actually celebrating their tenure and appreciating the hard work in trying to turn around the fortunes of our great national asset.”

The board leaves office at time when allegations of looting of assets within the giant steel manufacturer were being mentioned.
During the commissioning of ZimCoke plant that is within the Ziscosteel plant recently, Midlands Provincial Affairs Minister Larry Mavima decried thefts within the parastatal.

“We all know that Zisco has been closed for a long period now,” he said. “While it appears that everything is intact, there are incidences of cannibalism and removal of assets from this particular public enterprise.
However, I should mention that management to an extent has tried to prevent this.”

Minister Ndlovu said the coming in of ZimCoke will help stop the thefts that has been happening at the steel company.
“I have heard about those allegations,” he said. “We, however, cannot say the retiring of the board is part of the solution, but I know for sure the coming in of ZimCoke which is set to resume operations in the near future will improve sanity at the parastatal.

“I understand they are bringing in top notch security that will be manning not only ZimCoke, but the entire Ziscosteel plant.”
Minister Ndlovu said an investigation will also be conducted in the near future to ascertain which assets were missing.

The coming in of the new board is expected to bring renewed hope and the revitalisation of the giant steel company which is considered one of the biggest in the region.

The company, with a capacity of employing more than 5 000 workers and supplying the whole region with steel, is seen as a major player in the country’ economic turnaround strategy.