IN times like these, there is always the temptation to get swayed by the silly things happening in our country, like the Zodwa Wabantu’s undergarments saga, when there are more serious issues to look at such as the good news of the revival of the ZISCOSTEEL Company.
It is time we stop concentrating on trivialities. We have an economy that needs all our attention.
This week I focus on the positives that seek to unlock our potential for unprecedented growth and development.
On Monday last week, Government treated us to the good news that the nation has been waiting for.
In fact, this year has been the year that all good things have been seamlessly permeating our nation with results soon to be seen across the board.
In May, President Robert Mugabe officially launched the start of work on the dualisation of the Harare-Beitbridge Highway.
The project, to cost close to US$1 billion is expected to create 300 000 jobs.
Speaking at the launch President Mugabe called the rehabilitation ‘a game changer’ which will transform the country’s economy.
“This ground-breaking ceremony is a major breakthrough as Zimbabwe forges ahead with the implementation of ZimASSET, our economic blueprint since 2013,” said President Mugabe.
Austrian contractor Geiger International was last year awarded the tender for the 580-km road, which will be built under a Build-Operate-Transfer (BOT) model.
But it is the many benefits to the majority that make the project important.
Local companies will participate in the construction project to the tune of 40 percent of contract value.
The project is expected to take up to three years under the terms of the contract.
That same day, President Mugabe officially commissioned the country’s largest inland water body, the Tokwe-Mukosi Dam.
In his address at the commissioning of the dam, President Mugabe spoke of the economic gains to be derived from the project.
Some of these benefits include irrigation of about 25 000 hectares which will result in increased agricultural production.
The harnessed water for irrigation will enable the expansion of commercial sugar plantations to support irrigation schemes for commercial, A2 and A1 farmers.
The Tokwe-Mukosi Dam wall was designed with the potential of generating approximately 15 megawatts of power if the peak power facility concept is considered using water released for irrigation.
The power generated will be sold to Zimbabwe Electricity Distribution and Transmission Company (ZEDTC) and also used to power the anticipated projects of fisheries, hotels and lodges as the area is developed into a tourism resort.
Uptake agreements may be negotiated with mining companies like Renco Mine, which is in the vicinity of the project.
“This joyous moment demonstrates the Government commitment to ensure its people get enough food. The construction of this dam started way back in 1998 and due to economic challenges, it took time but today we are here to witness the commissioning of the Tokwe-Mukosi Dam. The dam was completed last year. Makorokoto! Amhlope!,” said President Mugabe.
This is why the announcement that Chinese company R&F will invest US$1 billion in ZISCOSTEEL is yet another step towards the development of the country that should be given the attention it deserves.
According to Industry and Commerce Minister Mike Bimha, the deal, will see investment of up to US$2 billion.
“When all these phases have been completed, we are looking at an initial injection of over US$1 billion and probably it will come to US$2 billion as we proceed,” said Minister Bimha.
Minister Bimha was speaking after a meeting at State House between Zhang Li, co-chair of R&F, and President Robert Mugabe.
According to Forbes magazine, Zhang Li is worth US$3,3 billion and his co-leader Li Sze Lim has a net worth of US$3 billion.
The ZISCOSTEEL deal, besides further strengthening the country’s relations with its all-weather friends, the Chinese, has the potential to transform many sectors of the economy.
The company used to be one of the country’s biggest employers with about 10 000 workers at its peak in the 1990s.
It was also a source of livelihood for a population of over 100 000 people in Redcliff and Kwekwe.
Its closure has negatively affected several industries across the country.
Its demise also affected Hwange Colliery Company and the National Railways of Zimbabwe.
Let those with ears listen.