Prof Welshman Ncube Blamed For Zisco Deal Collapse . . . ‘Indian Investor Was Broke’-Says Speaker Of Parliament.

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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Mnangagwa’s Ziscosteel ‘Lies’ Laid Bare With Essar Deal Collapse

Mnangagwa’s Ziscosteel ‘Lies’ Laid Bare With Essar Deal Collapse

PUMPED UP and feeling anointed to succeed after the Zanu PF congress, Vice President Emmerson Mnangagwa toured the collapsed Ziscosteel in December 2014 and declared that the company – closed since 2009 – would soon resume operations. Addressing a campaign rally in his then Chirumhanzu constituency, the Midlands political godfather declared: “Very soon, production will resume at New Zimsteel (Zisco’s new name) and this will go a long way in reviving the economy.” The suffering…

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Ziscosteel Workers Contracts, Terminated And Zim Gvt Takes Over Firm’s US$700m Debt

Ziscosteel Workers Contracts, Terminated And Zim Gvt Takes Over Firm’s  US$700m Debt

GOVERNMENT will, with effect from December 1 this year, terminate all contracts for Ziscosteel workers on three months’ notice and absorb its wage liabilities in a bid to attract investors to resuscitate the company, Finance Minister, Patrick Chinamasa has said. The development confirms the collapse of the Redcliff steelmaker’s much-vaunted takeover by an Indian company despite vice president Emmerson Mnangagwa insisting in February this year that plans to restart the closed company were at an…

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Former Warriors Defender ‘Paul Gundani’ Has Died

Former Warriors defender Paul Gundani has died. Gundani, who played for ZiscoSteel and Lancashire died at a private clinic in his home town of Kwekwe at lunch time after a short illness.He had been taken to the clinic in the morning after his condition had deteriorated. It is understood the former Dream Team stalwart, who was the Footballers Union of Zimbabwe (FUZ) secretary general, first complained of fever and a headache on Sunday. source-newsday  

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