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20 firms eye National Railways of Zimbabwe stake

20 firms eye National Railways of Zimbabwe stake

MORE than 20 potential investors have expressed interests in partnering the National Railways of Zimbabwe in its bid to recapitalise its operations. In a telephone interview with Sunday Business on Friday, NRZ board chairman Mr Larry Mavima said the company was overwhelmed by the response it was getting from various potential investors across the globe. […]

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, […]

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 […]

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 […]

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 […]

National Railways of Zimbabwe to seek private partnerships

National Railways of Zimbabwe to seek private partnerships

The cabinet has given the nod for the National Railways of Zimbabwe (NRZ) to look for private partnership in its recapitalisation drive in a move that could see the ailing parastatal turning around its fortunes for better. The move has given the ailing NRZ a fresh impetus. Addressing journalists in Bulawayo, NRZ board chairman Mr […]

National Railways of Zimbabwe – When and where did the wheels fall off?

National Railways of Zimbabwe – When and where did the wheels fall off?

SPEAKING in Beitbridge on June 1 1965, Ian Smith, then Prime Minister of Rhodesia now Zimbabwe, said: “The main argument at the moment for linking the Rhodesian railway system to the Beitbridge was a strategic one, not an economic one. “As regards the Rutenga-Beitbridge link,” he went on, “we have evaluated the pros and cons […]

Salvaging NRZ, Ziscosteel and Hwange Colliery from total collapse

Salvaging NRZ, Ziscosteel and Hwange Colliery from total collapse

IN the last three instalments, I have endeavoured to show the historical background and importance of NRZ, Ziscosteel and Hwange Colliery to the economy and its industrialisation bid. I went on to look at the problems these interrelated companies have faced and so in this instalment, I look at the solutions to some of the […]

Zimbabwe government pumps $200m into ailing parastatals

Zimbabwe government pumps $200m into ailing parastatals

Zimbabwe’s cash-strapped government has pumped nearly $200 million into the country’s struggling parastatals. This comes as calls have been getting louder for the cash-strapped country to restructure its loss-making parastatals to make them attractive for foreign investment and recapitalisation. Market experts said the opportunity cost of missing revenue from government enterprises was being felt across […]

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