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Prof Welshman Ncube Blamed For Zisco Deal Collapse . . . ‘Indian Investor Was Broke’-Says Speaker Of Parliament.
FORMER Industry and Commerce Minister Professor Welshman Ncube “misled” the Inclusive Government into signing the collapsed $750 million Essar Africa Holdings’ Ziscosteel deal without doing due diligence on the capacity of the investor, the Speaker of Parliament, Advocate Jacob Mudenda, has said. Zisco ceased operations in 2008 due to choking financial constraints and its re-opening has had many false starts in the past four years. Under the $750 million deal, Essar was supposed…
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