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National Railways of Zimbabwe forensic audit complete

National Railways of Zimbabwe forensic audit complete

A FORENSIC audit of the struggling National Railways of Zimbabwe (NRZ), the country’s sole railway transport operator, has been completed, the Financial Gazette’s Companies & Markets (C&M) has established. The company’s board chairman, Larry Mavhima, revealed that the report, which covered the past five years, was handed over to his board last week. Mavhima, however, […]

Snake Blamed For Crash That Killed Eight People in Makueni

Snake Blamed For Crash That Killed Eight People in Makueni

The driver of a matatu that collided with a lorry at Malili on the Nairobi-Mombasa highway, killing eight people, was avoiding running over a snake, one of the accident victims has revealed. Ms Elizabeth Mwongeli, 28, told the Nation at Machakos Level 5 Hospital, where she was admitted, that just before the crash she heard […]

Stressed Air Zim plumbs new lows issuing handwritten boarding passes

Stressed Air Zim plumbs new lows issuing handwritten boarding passes

Struggling national carrier Air Zimbabwe this week sunk to new lows after it resorted to issuing handwritten boarding passes — triggering a torrent of bad jokes from travellers expressing their shock at the extent of the rot devouring the airline. This comes as the debt-ridden flag carrier is struggling to operate its full complement of […]

Zimbabwe’s state owned parastatal NRZ Loses Out $2.5 Billion

Zimbabwe’s state owned parastatal NRZ Loses Out $2.5 Billion

The National Railways of Zimbabwe (NRZ) has this year lost potential revenue of close to $2.5 billion in transport revenue to other transporters due to its in ability to take up cargo transport contracts, parliament has revealed. The country’s cargo carrier is in sorry state as it is struggling to maintain its wagons most of […]

Uganda Targets South Sudan, DR Congo With Logistics Hub

Uganda Targets South Sudan, DR Congo With Logistics Hub

Uganda is considered a cheaper cargo route for goods bound to South Sudan, than the direct route to from Mombasa to Juba. This was revealed by Mr Richard Kamajugo, the senior director for trade development at TradeMark East Africa while giving a keynote speech at the opening of the joint oil and gas convention and […]

Zimbabwe cabinet approves NRZ recapitalisation programme

Zimbabwe cabinet approves NRZ recapitalisation programme

CABINET has approved the National Railways of Zimbabwe (NRZ)’s recapitalisation programme which will see the ailing parastatal going into the market to source funding through technical partners and institutional investors. Addressing journalists in Bulawayo on Saturday, NRZ board chairperson Larry Mavhima said the framework for the recapitalisation of the company was made by cabinet on […]

26 Dead, Several Hurt in Kibwezi After Bus, Tanker Crash

26 Dead, Several Hurt in Kibwezi After Bus, Tanker Crash

Twenty six people have died while several have been injured after bus collided with a tanker at Kambu along the Nairobi-Mombasa highway, Kibwezi OCPD Leonard Kimaiyo says. The bus, belonging to Buscar company, was headed to Mombasa from Nairobi when the crash happened. Police said the driver of the bus was overtaking another vehicle at […]

Tanker Laden With 33,000 Litres Diesel Fuel Explodes in Lagos

Tanker Laden With 33,000 Litres Diesel Fuel Explodes in Lagos

A 33,000 litres tanker fully laden with diesel has crashed on a car in Lagos, leading to a fire outbreak. Sources said the tanker crashed on the BMW Car with registration number (LSD 462 CZ) while driving inward Ladipo area, Oshodi-Apapa expressway, Lagos. PREMIUM TIMES gathered that the tanker, with registration number TUT 258 XA, […]

Salvaging NRZ, Zisco and Hwange Colliery from total collapse

Salvaging NRZ, Zisco and Hwange Colliery from total collapse

Meanwhile, the minimum wage levels in the rest of the region only increased at average annual rates way below that level — 19 percent in Zambia, 6,3 percent in South Africa, 5,9 percent in Mozambique and only two percent per year in Botswana over the same period. While wage levels increased disproportionately in Zimbabwe, regional […]

Abuse at NRZ: Sits on $150m real estate: Asset register in shambles

Abuse at NRZ: Sits on $150m real estate: Asset register in shambles

THE rundown National Railways of Zimbabwe (NRZ) is sitting on countrywide real estate estimated to be worth more than $150 million, with the potential to raise at least $5 million in rentals monthly. According to information The Chronicle has pieced together in an in-depth investigation, the countrywide properties include guest houses in the country’s low […]

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