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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 […]

National Railways of Zimbabwe too disgusting to foreign investors – Joram Gumbo

National Railways of Zimbabwe too disgusting to foreign investors – Joram Gumbo

TRANSPORT Minister Joram Gumbo says the amount of mismanagement that has been directed at the National Railways of Zimbabwe (NRZ) over the past years has rendered the troubled state firm unattractive to prospective investors. Gumbo was responding to questions from legislators in the upper house during a recent sitting. Asked if government would consider reviving […]

Zimbabwe’s parastatal rot – when looting becomes second nature

Zimbabwe’s parastatal rot – when looting becomes second nature

Ever wondered why the Zimbabwe Government and its ministers find parastatals attractive despite them costing the taxpayer billions of dollars? Our previous article asked questions on the wisdom of the government taking over Telecel mobile network. This article explores the reasons and why the Telecel conundrum and indeed government ownership of parastatals are attractive to […]

Zisco, NRZ ‘dead’ but Zimbabwe still paying loans for collapsed national projects, RBZ John Mangudya

Zisco, NRZ ‘dead’ but Zimbabwe still paying loans for collapsed national projects, RBZ John Mangudya

Reserve bank chief, John Mangudya, has expressed grave concern over the fact that the country is still paying loans for state enterprises and national projects that have since collapsed. Mangudya said this when he visited Harare Institution of Technology (HIT) incubation unit house at Feruka Refinery in the eastern border city recently. The unit specializes […]

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