ZISCO

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(ZISCO) is the largest steel works in Zimbabwe. It is located just outside Kwekwe, in Redcliff. Over the years the company has faced many operational problems and has been dogged with countless corruption scandals. As of early 2008, the company was producing less than 12,500 tonnes, way below the break-even capacity of 25,000 tonnes.[1] It was wholly owned by the government of Zimbabwe up until it invited bidders for a 64% stake of the ZISCO group of companies. 54% of the company is now in the hands of Essar Africa Holdings Ltd. The government of Zimbabwe holds 36% and a consortium of private investors holds 10%. The ZISCO group of companies include; BIMCO, Lancashire Steel, Frontier Steel, ZISCO Distribution Centre. All these companies are 100% owned by ZISCO.