NRZ to take US$533m investment campaign to SARA conference
THE National Railways of Zimbabwe (NRZ) says it will capitalise on the Southern African Railways Association (Sara) rail conference in South Africa next month to raise part of its estimated US$533 million needed to operationalise its infrastructure recapitalisation project.
The company is seized with the mobilisation and implementation of its strategic plan, which aims to grow the rail sector sustainably and promote rail as an environmentally friendly mode of transport.
In recent years, NRZ has been hard hit by lack of funding, obsolete equipment, vandalism and mismanagement accusations, which negatively affected the business.
The parastatal has been knocking on the doors of many potential investors, pitching various investment projects in an attempt to modernise its service and operations.
The 13th Sara rail conference is slated for August 20-23 and will run under the theme “Boosting Continental Trade via Rail: Investments in African Railways for the Sustainable Development of the Continent.”
NRZ chief strategy and planning manager, Mr Jacob Chionyere, has said the forthcoming conference presents an excellent opportunity for the company to engage with the rail industry and its suppliers, particularly as they work towards the recapitalisation of the institution.
“We are looking forward to exhibiting at the Sara conference. The conference is a good platform to interact with the industry and supplies as we try to recapitalise the institution,” he said in a video posted on the company’s X account.
“The key trust is fund mobilisation and implementation of our strategic plan. We need to ensure that we grow the rail sector.
“We want to raise about US$533 million to resuscitate our infrastructure and procure new rolling stock, including locomotives and wagons, to meet the demands of our growing industry.”
Mr Chionyere emphasised that NRZ’s priority was the mobilisation and implementation of its strategic plan, which seeks to achieve sustainable growth in the rail sector.
In line with Vision 2030, the parastatal strategies for recapitalisation are aimed at making NRZ a modern and efficient mode of transporter of choice for both bulk passengers and freight, especially with regards to the attainment of the US$12 billion mining industry.
“We plan to leverage the Sara conference to connect with potential funders and discuss key revitalisation projects aimed at improving infrastructure and rolling stock,” said Mr Chionyere.
He said the conference would also assist in alleviating the bottle necks on the North-South corridor.
Mr Chionyere said NRZ was looking forward to fruitful discussions and collaborations at the conference, which they believe will be pivotal in driving the growth and sustainability of Zimbabwe’s rail sector.
He said NRZ is eager to engage in productive discussions and meaningful collaborations with industry stakeholders adding that interactions will be instrumental in shaping the future of Zimbabwe’s rail sector, driving its growth and sustainability.
Zimbabwe’s railway network system stretches 2 760km but due to the waning of the infrastructure over the years, the rail network has cautions (the equivalent of potholes in the road network) totalling 64 and covering a distance of more than 254km. — chroncile
