Zimbabwe President Emmerson Mnangagwa, under pressure to deliver on his promise of jobs, has anchored a revival of Zimbabwe's economy on boosting output from the mining sector.Zimbabwe's state-controlled iron and steel company ZISCO has invited new investors to help revive operations at the company that has been the target of interest from Indian and Chinese investors in the past, a company document seen by Reuters showed.
Essar Africa Holdings, a unit of India’s Essar Group, agreed to invest up to $4 billion in Zimbabwe Iron and Steel Company in 2011 but the deal collapsed. An agreement by China's R&F to invest $2 billion in 2017 also fell apart after Harare authorities sought to renegotiate the deal. ZISCO acting chairman Martin Manuhwa said in a circular seen by Reuters on Tuesday that the firm was again looking for new investors"who would be interested in availing funds to resuscitate" the company.