HARARE - The Zimbabwe government has short listed two investors out of the six who were vying to acquire the embattled Zimbabwe Iron & Steel Company, as part of the inclusive government's efforts to revive underperforming parastatals. (Pictured: Joel Gabuza, Parastatal and State Enterprise Minister)Among the investors interested in taking over Zisco were Arcelor Mittal (South Africa), Murray and Roberts (South Africa), Steel Makers Zimbabwe) Reclamation (South Africa) and Gateway (Zimbabwe) in association with an Indian firm.
Joel Gabuza, Parastatal and State Enterprise Minister, said that the short listed investors were presently before an inter-ministerial committee for further evaluation of their history, capacity and suitability.
“This is a process. For instance if there were 10 bidders, the government had to come up with say two from which the eventual winner would be recommended to the President and the Prime Minister.”
Once approved the investors would be referred to the inter-ministerial committee, which together with parent ministries would choose the final winner. Welshman Ncube, industry and commerce minister, recently said that the government would consider a sound debt management plan for Zisco as one of the major factors in arriving at the eventual winner. –
Post published in: Economy