Zisco board launches fresh probe

• Ministers named in Zisco looting

• Free for all at Ziscosteel

• MPs table motion for Mpofu's impeachment

• Ziscosteel in hunt for new managing director

• Zisco whistle blowers threaten to sing

• MPs want to impeach Mpofu over Zisco

• Mpofu faces new quiz over inconsistencies

• Mpofu, Mangwana under pressure over Zisco

By Staff Reporter

ZIMBABWE'S troubled Iron and Steel Company (Ziscosteel) board has launched a fresh probe into the looting of the firm after being denied sight of a graft report compiled following investigations it had commissioned, it emerged Wednesday.

Sources close to the invetigation said Zisco's fresh probe began two weeks ago and should be concluded before Christmas.

A source said the Zisco board led by David Muringani, who is also the Zimbabwe Chamber of Mines chief Executive, began the investigations after requesting the report from government to no avail.

The sources added that of all the Zisco board members, only Muringani had been shown the report detailing the looting of state assets by ministers and top Zanu PF officials.

A source revealed: "Muringani was shown a copy. He only read it but was not allowed to take it. Those who were shown the National Economic Conduct Inspectorate (NECI) report were made to sign a confidentiality form."

Sources added that Muringani was proving instrumental in the latest investigation as he has knowledge of those who were named in the elusive report and their actions.

The source added: "The board has been kept in the dark about the goings on at Zisco. It was not even briefed on the take-over by Indian firm, Global Steel Holdings, or the circumstances surrounding its quick exit."

The sources also said the Zisco board had not formally notified government about its probe amid fears that it could be stopped.

Muringani was not answering calls on his mobile late Wednesday, and was repeatedly said to be out of his office.

The government has refused to publish the NECI report into the looting of Zisco. Industry and Trade Minister, Obert Mpofu, faces impeachment after telling MP's that senior government officialsm were behind the looting, before changing his story to suggest companies linked to the officials wre in fact the one names in the report.

The privately-owned Zimbabwe Independent newspaper last week began naming ministers said to be fingered in the report.

Higher Education Minister Stan Mudenge, Indigenisation Minister Samuel Mumbengegwi, Science and Technology Minister Olivia Muchena and her Small-to-Medium Enterprises Development counterpart, Sithembiso Nyoni, have all been fingered as Zisco looters (read report).

The Ziscogate saga is shaping up into one of the worst corruption scandals since Independence in 1980.
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