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.

Copyright © 2012 The Herald. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.