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*Mnangagwa Blames White People For Ziscosteel Collapse*

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President Emmerson Mnangagwa has claimed that white people caused the collapse of the Zimbabwe Iron and Steel Company (Ziscosteel).

Addressing a ZANU PF rally in Kwekwe on Saturday ahead of the 26 March by-elections, Mnangagwa claimed that whites sabotaged Ziscosteel from the time Zimbabwe got its independence from Britain in 1980. He said:

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> For over 20 years, Ziscosteel has been down. At its peak, Ziscosteel used to employ between 6000-7000 and those from the downstream industry.

> The company gave iron and steel to the entire region including East Africa and overseas countries.

> When we gained independence in 1980 as ZANU PF the whites were very unhappy.

> They started to sabotage Ziscosteel until it was brought to its knees.

He, however, did not explain how the whites sabotaged the company.

Mnangagwa said after attempting to bring in a foreign investor, his government decided to engage a local investor to resuscitate Ziscosteel. He said:

> We have been looking for external investors to resuscitate Ziscosteel and over US$450 million is needed for the resuscitation.

> Ziscosteel is owned by the government which has 89% and other stakeholders have 11%.

> We settled for Kuvimba, which is 65% owned by the government and it is going to resuscitate Ziscosteel.

> The US$450 million is already available.

A 2006 parliamentary inquiry established that Ziscosteel collapsed due to looting by government ministers and other senior officials.

However, the report is yet to be published.

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