Africa-Press – Zimbabwe. The government has officially placed Zimbabwe Iron and Steel Company Limited (ZISCOSTEEL) under the Mutapa Investment Fund (MIF), adding the long-collapsed steelmaker to its growing portfolio of struggling state-owned assets.
The MIF is tasked with managing and commercialising government-owned enterprises.
The move was formalised through Statutory Instrument 58 of 2026, published in a supplement to the Government Gazette on 20 March.
The 89% state-owned steelmaker, which has been idle for 18 years, now falls directly under the MIF alongside its previous preferred suitor, Kuvimba Mining House.
At its peak in the late 1980s and 1990s, ZISCOSTEEL produced up to 1.2 million tonnes of steel a year, employed more than 5,500 people directly, and supported an estimated 50,000 jobs in downstream industries such as construction, engineering, and manufacturing.
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