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Michael Magoronga, Business Correspondent

THE Zisco board and management are set to beef-up security at the company following reports of rampant looting of resources at the defunct iron and steel giant, allegedly by former workers and thieves.

Besides former workers who are well acquainted with the plant, machete-wielding gangs, are reportedly threatening to attack security personnel to gain entry into the plant.

The world’s longest conveyor belt at one time, measuring 15,6 kilometres, was the first to be stripped by the thieves.

Zisco acting board chairman Dr Gift Mugano confirmed the massive looting at the sleeping giant, saying this was also retarding revival of the biggest steel manufacturer north of Limpopo.

He said the former workers were leading and orchestrating the stealing of assets like cables, pipes and the conveyor belt.

“The situation on the ground is that there is looting at the company by some former workers and thieves who are taking away cables and other material from the plant for resale. 

“Machete-wielding thieves have also targeted the company as they go and threaten the security with machetes before getting inside and looting the resources,” Dr Mugano said.

Going forward, he said management would beef-up security and carrying out a forensic audit to account for the stolen property.

“We are going to beef up our security to avoid such happenings from being repeated. 

“We are also going to carry out a forensic audit and an evaluation of assets so that we account for every asset,” said Dr Mugano.

He said the Government had already been notified about the need for an audit.

“Plans for an audit are at an advanced stage as we have already notified the Ministry of Industry and Commerce about it and any time it can be carried out so that we account for every asset,” he said, adding that investigations would be carried out and those found on the wrong side of the law would be prosecuted.

“Yes, we have the allegations and investigations are to be carried out and whoever will be found on the wrong side will be prosecuted. 

“We are taking no prisoners on this one, whoever will be found on the wrong side of the law will face the music,” said Dr Mugano.

The Redcliff-based steel plant was closed at the height of hyperinflation in 2008.

Following its closure, Zimbabwe is importing US$400 million worth of steel and its products annually.

In this light, Government has proclaimed the urgent need to invest and develop anchor industries for strategic sectors. 

At its peak in the 1990s, the former steel giant employed over 5 000 people.