The Herald (Harare)

15 October 2012

Zimbabwe: NRZ Needs U.S.$10 Billion

The National Railways of Zimbabwe urgently requires up to US$2 billion capital injection to realise its full potential. The revelation was made at consultative workshop hosted by the parastatal, which saw various regional railway players converging to share ideas on capacity utilisation.

Speaking on behalf of the Minister of Transport, Communication and Infrastructural Development Nicholas Goche, the ministry's permanent secretary Mr Munesushe Munodawafa said the government was aware that the economic melt down had caused enormous challenges for the parastatal.

"The NRZ requires US$10 billion in the next 10 years to be fully recapitalised and transformed," said Mr Munodawafa.

NRZ board chairperson Dr Kotsho Dube called for the participation and collective ownership by the stakeholders to satisfy their needs and also those of the economy.

Dr Dube said the NRZ was a strategic utility, which played a pivotal role in reviving the economy but could not undertake the task on its own. The workshop was themed TEAM (Together, Everyone Achieves More) and was attended by members of the Southern Africa Railway Association (SARA) from countries such as South Africa Mozambique, Zambia and Botswana who shared operational problems.

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