National Railways of Zimbabwe slashes passenger train fares by 30pc
THE National Railways of Zimbabwe (NRZ) will starting next week reduce fares for passenger trains on major routes by up to 30 percent. In a statement, the railway company said it would cut fares for the Bulawayo to Harare, Bulawayo to Victoria Falls and Bulawayo to Sango Border with Mozambique routes. “NRZ is glad to […]
Vagrants burn 21 National Railways of Zimbabwe wagons
THE National Railways of Zimbabwe (NRZ) has blamed vagrants for allegedly causing the fire which burnt and destroyed the parastatal’s 21 wagons in Bulawayo last week. NRZ spokesperson, Nyasha Maravanyika, yesterday said the wagons were burnt after suspected vagrants lit a fire to warm themselves up and left it unattended on June 7. “What we […]
Bumper harvest to boost National Railways of Zimbabwe volumes
THE National Railways of Zimbabwe (NRZ) expects to move more than one million tonnes of freight internally this year spurred by the anticipated bumper harvest. Following the good rains Zimbabwe received in the 2016/17 summer cropping season, the Government has projected a bumper harvest of about 2.7 million tonnes of grain. NRZ chairman Mr Larry […]
Zimbabwe Govt grants NRZ project status . . .Recapitalisation exercise subject to various incentives
THE Government has granted National Project Status to the National Railways of Zimbabwe (NRZ)’s $400 million recapitalisation programme subjecting the project to various incentives till its completion. Speaking at NRZ’s pre-bid conference on Tuesday, Finance and Economic Development permanent secretary Mr Willard Manungo said in order to show full support and to ensure smooth implementation […]
Struggling National Railways of Zimbabwe patches together $400m recapitalisation plan
THE financially-struggling National Railways of Zimbabwe (NRZ) yesterday held a recapitalisation pre-bid conference in Bulawayo, as it seeks to raise $400 million to revive its operations and to repair infrastructure and equipment, to regain its lost market share. Addressing prospective bidders, who included international and local investors, NRZ deputy board chairperson, who is also chairman […]
Dilapidated rail network stifles Zimbabwe tourism growth
THE dilapidated railway system in the country is one of the major setbacks that frustrate growth in the tourism sector, a Zimstat survey has shown. According to a Zimbabwe Visitor Exit Survey (VES) for the year 2015/2016, a number of tourists are keen to enter the country using the railway transport system. Although many visitors […]
President Robert Mugabe the bishop of dictators: Tendai Biti
Former Finance minister and People’s Democratic Party leader (PDP), Tendai Biti has said most youth in the country now think it is now normal to be vendors on the streets and to see dilapidated infrastructure at companies such as National Railways of Zimbabwe (NRZ). Addressing PDP supporters during Africa Day celebrations in Bulawayo on Thursday, […]
Zimbabwe has incredible potential
ZIMBABWE is poised to be one of the fastest growing economies in Africa and will also become the most advanced in a very short space of time, but only if we have leadership which understands the concept of stewardship. I have been analysing Zimbabwe’s potential in various economic sectors including agriculture, mining, energy and infrastructure […]
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
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, […]
