JUST IN: Ziscosteel interim chair Mugano resigns in a huff



Renowned Economist and Ziscosteel board chairman Dr Gift Mugano has tendered his resignation from the company’s board with immediate effect amid clashes with Minister of Industry and Commerce Dr Sekai Nzenza over policy related issues, midlands news has learnt.

Both Dr Mugano and Minister Nzenza could not immediately reached for comments.

However, in his resignation letter which was leaked to the media, Dr Mugano attributed his depature from Zisco to sharp differences in recent media comments which insiders say could be related to the new foreign currency auction system.

In his letter which was addressed to Minister Nzenza, Mugano said he was unwilling to forfeit his freedom to comment candidly on policy issues in exchange for the Zisco board chairmanship.

Part of Mugano’ resignation letter reads “My contribution on the policy discourse is of primary importance which cannot be forfeited in favour of maintaining a micro role as interim Chairman and Board member of Zisco,” said Mugano.

He added that his resignation is as a result of “to our conversations over my comments in public media on government policies which are viewed by some sections of government as in direct conflict with my role as a board member of a state enterprise”.

Mugano’ resignation comes barely a week after the appointment of Dr Farai Karongo as the new Ziscosteel Chief Executive.

Dr Karonga replaces Alois Gowo, who retired from the company early this year.

Once the backbone of Zimbabwe’s industry, Zisco has not been operating since 2008 when it suspended production due to a number of challenges.