Ziscosteel in hunt for new managing director

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By Lebo Nkatazo

ZIMBABWE'S troubled iron and steel manufacturer, Ziscosteel, has advertised for a new managing director after Indian firm, Global Steel Holdings, went back on a planned take-over.

Indian national, Lalit Kumah Sehgal, packed his bags three months ago, just weeks before a corruption scandal blew up at the state-run firm with revelations that senior government officials, MPs and ministers siphoned billions of dollars from the organisation leaving it teetering on the brink of collapse.

Sehgal took over as managing director from Gabriel Masanga last year as part of the collapsed 20-year rehabilitate-operate-transfer agreement involving US$400 million.

Zisco’s projects and development manager, Alois Gowo, has been the acting manager.

The company’s board said Tuesday the ideal candidate should have “a minimum of 15 years of relevant working experience in either mining or steelmaking.”

The person should have the ability “to interact and communicate with government officials, business leaders and strategic partners at the highest level.”

A parliamentary committee is expected to table a report on the operations of
the steelmaker in the House of Assembly next week.

The committee has, however, been unable to get an explosive report compiled by the Economic Conduct Inspectorate made up of intelligence officials and civil servants from the Ministry of Finance.

Industry and Trade Minister Obert Mpofu confirmed the existence of the report but later backtracked. MPs are set to call for his impeachment.
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