WE, in the village, always keep a finger on the nation’s economic pulse. Thus, we see the revival of Zimbabwe’s iron and steel industry as something that will signifi cantly transform not only the country’s economy but also the broader regional and continental economies. Over the years, the steel sector has faced numerous challenges, from the lack of investment to infrastructural decay and limited technological advancement.

However, there is renewed hope on the horizon, thanks to the signifi cant steps being taken by both the Government and private sector players. President Emmerson Mnangagwa’s call for the urgent revival of the iron and steel industry is a clarion call that we cannot aff ord to ignore. In the past six years alone, Zimbabwe has reportedly spent over US$1 billion on importing steel and iron products. This is a staggering amount that could have been re-invested into our local economy if we had a viable, self-sustaining iron and steel sector. Today, we are presented with a chance to reverse this trend and take control of our economic destiny.

It is commendable that operations have already commenced at Dinson Iron and Steel Company, a signifi cant milestone in the revival of the industry. However, the road ahead requires concerted eff ort from all stakeholders.

The revitalisation of the iron and steel sector is more than just a matter of national pride; it is a matter of economic survival and prosperity. If we heed President Mnangagwa’s call and prioritise the growth of this sector, we can accelerate the overall growth of our economy and become a major player in the regional and global markets. Iron and steel are fundamental to any industrial economy. They form the backbone of multiple key sectors, including construction, automotive, manufacturing, infrastructure development and even defence. These industries, in turn, drive employment, technological advancement and innovation, leading to a multiplier eff ect that stimulates the entire economy. For Zimbabwe, the revival of its iron and steel industry holds the promise of economic diversifi cation and long-term stability. Historically, the country was one of the leading producers of steel in Africa, with the Ziscosteel plant in Redcliff serving as a major contributor to the economy. However, due to various challenges, including under-investment, and obsolete technologies, the sector began to decline, leaving a signifi cant gap in the supply chain for steel products. As a result, Zimbabwe became reliant on imports to meet its domestic demand for iron and steel, further depleting the country’s foreign currency reserves.

The potential benefits of a thriving iron and steel industry in Zimbabwe cannot be overstated. Not only will it provide a signifi cant boost to our manufacturing sector, but it will also reduce the need for imports, improving the balance of payments and conserving precious foreign currency. Moreover, a robust iron and steel sector will create thousands of jobs, both directly within the industry and indirectly in related sectors such as transport, logistics and construction. These jobs will provide a foundation for economic growth, poverty reduction and social stability. The US$1 billion spent on iron and steel imports over the past six years is a fi gure that should worry every Zimbabwean. This amount could have been directed towards strengthening our domestic industry, creating jobs and improving the quality of life for citizens.

The fact that we continue to rely on imported steel products not only drains our foreign currency reserves but also creates an unsustainable economic model that leaves us vulnerable to external shocks and market fl uctuations. The revival of our domestic steel industry will signifi cantly reduce the amount of money spent on imports and ensure that we retain value within our borders. By focusing on self-sufficiency and local production, we can protect our economy from the volatility of international steel prices and ensure that Zimbabwean businesses have access to affordable, high-quality steel products. This, in turn, will help spur the growth of local industries, create jobs and support the development of critical infrastructure projects such as roads, bridges, schools and hospitals. Additionally, the establishment of a competitive, locally based iron and steel industry will reduce Zimbabwe’s dependence on foreign markets for steel products. Instead of spending billions of dollars on imports, we could use that money to stimulate domestic production, grow local businesses and accelerate economic growth. One of the most encouraging developments in the revival of Zimbabwe’s iron and steel industry is the commencement of operations at Dinson Iron and Steel Company in Manhize.

The company’s efforts to establish a world-class steel manufacturing plant in the country are a step in the right direction. Dinson’s commitment to investing in Zimbabwe’s future represents a significant opportunity to re-ignite the iron and steel sector and contribute to the country’s industrialisation agenda. This new development has the potential to unlock a number of benefits for the economy. For one, it will create thousands of direct and indirect jobs, providing much-needed employment opportunities for local communities. The company is also expected to contribute significantly to the country’s tax revenue, which can then be re-invested into social and economic development programmes.

Moreover, the presence of a strong player like Dinson Iron and Steel Company will have a positive ripple effect throughout the economy. The company’s investments in infrastructure, logistics and supply chains will create opportunities for local businesses to grow and expand. In particular, companies in the transport, mining, and manufacturing sectors stand to benefit from the increased demand for raw materials, equipment and services. However, while Dinson Iron and Steel’s efforts are commendable, the revival of Zimbabwe’s iron and steel industry cannot rest solely on the shoulders of one company.

The Government, private sector and international investors must continue to collaborate to ensure that the sector receives the support and investment it needs to grow and thrive. The successful revival of the iron and steel industry requires significant investment. This includes both local and foreign capital, as well as expertise and technology transfer. Local investors must also play an active role in the development of the iron and steel industry. Zimbabwe is home to a number of successful businesses and entrepreneurs who can contribute to the growth of the sector. By supporting local investment in the industry, we can ensure that the economic benefits of a revived iron and steel sector remain within Zimbabwe. Furthermore, local investors are more likely to re-invest their profits into the economy, creating a sustainable cycle of growth. The revival of Zimbabwe’s iron and steel industry will not only have a profound impact on the national economy but also on the broader regional and continental economies.

Zimbabwe is strategically located within Southern Africa, and a thriving steel industry will support regional industrialisation efforts. Countries in the region, such as Zambia, Mozambique and Botswana, rely on the supply of steel products for their own infrastructure and manufacturing needs. By reviving Zimbabwe’s iron and steel industry, we can become a key supplier of steel to these countries, creating regional trade linkages and boosting intra-African trade. The African Union’s Agenda 2063, which seeks to transform Africa into a united, prosperous and self-reliant continent, aligns perfectly with the objectives of revitalising Zimbabwe’s iron and steel industry. As we work to strengthen our industrial base, we also contribute to the broader goals of economic integration, job creation and sustainable development on the continent.

The revival of Zimbabwe’s iron and steel industry is not just a national issue — it is a regional and continental imperative. By focusing on this key sector, we can create thousands of jobs, reduce our reliance on imports, strengthen our industrial base and contribute to the economic development of Southern Africa. President Emmerson Mnangagwa’s call for the urgent revival of the iron and steel sector is one that should resonate with all Zimbabweans. This is a challenge and an opportunity that we must seize with both hands. The commencement of operations at Dinson Iron and Steel Company is a welcome step forward, but it is only the beginning. We must continue to attract both local and foreign investment, create a conducive environment for growth, and ensure that the benefits of a revived iron and steel industry are felt throughout the economy. As we build the iron and steel industry brick by brick, we will not only transform our own nation but also contribute to the prosperity of the region and the continent at large.

Let us all heed President Mnangagwa’s call and ensure that the iron and steel industry is fully revived. The future is in our hands, and it is time to invest in the future of our country, our region and our continent. Together, we can make this vision a reality.

Businessman Tawanda Chenana is also a philanthropist and Secretary for Lands for ZANU-PF Mashonaland East Province.