Zeco Bounces Back
Bulwayo — ZECO Holdings, which recently emerged from liquidation, says it will be hiring 800 more workers as production at its plant moves towards full capacity utilization.
The company owned by Phillip Chiyangwa went into provisional liquidation in 1995 due to operational difficulties. It was established in 1964 under the ownership of Thomas Meikles.
Harold Madziwo, the Zeco chief executive said the engineering firm, which at its peak built wagons for railway companies in Zambia, Tanzania, Mozambique, Ethiopia and Kenya had secured new markets in Botswana.
"We have had a number of jobs or work to be done coming from Botswana," he said in an interview last week.
"We are operating at between 13% and 15% capacity utilisation while other companies are running at below 10%.
"We are looking forward to increasing our workers to 1 000, a number that is associated with Zeco when running at full capacity."
Madziwo said by penetrating the Botswana market, Zeco would improve its market visibility.
Government says it expects industries to reach 60% capacity utilisation by the end of the year as planned in economic recovery plans.