Zimbabwe’s state-owned railway company is negotiating a $115 million facility with the African Export-Import Bank (Afreximbank) \u200bto purchase locomotives and wagons and expand \u200chaulage capacity, an official said on Thursday.<\/p>\n
The National Railways of Zimbabwe (NRZ), which now operates under the country’s sovereign wealth \u200bfund Mutapa Investments, was talking to the \u200bAfrican lender to unlock funds for 10 locomotives \u2060and 315 wagons, the fund’s Chief Executive \u200bOfficer John Mangudya said.<\/p>\n
The funds would also be used \u200bto repair parts of the NRZ’s railway infrastructure, he added.<\/p>\n
Mangudya spoke as NRZ commissioned three locomotives and 100 wagons refurbished \u200bunder a partnership with Sinosteel’s Zimbabwean ferrochrome \u200bunit, Zimasco.<\/p>\n
NRZ has struggled for years due to under-investment by the \u200cgovernment \u2060and has stepped up\u00a0collaborations\u00a0with private logistics firms to boost freight volumes which collapsed from a peak of 12 million tons in the 1990s, \u200bto 2 million \u200btons in \u20602025.<\/p>\n
On July 21, NRZ said it was hauling\u00a0lithium concentrate\u00a0to Maputo port \u200bin Mozambique by rail in partnership with \u200bprivate \u2060operators, adding a cheaper transport option to the mining industry which currently trucks most of its minerals \u2060to \u200bport.<\/p>\n
NRZ requires a $600 million investment \u200bto upgrade its rolling stock and network, Mangudya said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Zimbabwe’s state-owned railway company is negotiating a $115 million facility with the African Export-Import Bank (Afreximbank) \u200bto purchase locomotives and wagons and expand \u200chaulage capacity, an official said on Thursday. The National Railways of Zimbabwe (NRZ), which now operates under the country’s sovereign wealth \u200bfund Mutapa Investments, was talking to the \u200bAfrican lender to unlock […]<\/p>\n","protected":false},"author":6,"featured_media":13920,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":6,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_comment_section":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Reuters","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[32,2362,30],"tags":[2853,1659,5470,76],"class_list":["post-22036","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-featured","category-southern-africa","tag-afreximbank","tag-african-export-import-bank","tag-national-railways-of-zimbabwe-nrz","tag-zimbabwe"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/22036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=22036"}],"version-history":[{"count":1,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/22036\/revisions"}],"predecessor-version":[{"id":22037,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/22036\/revisions\/22037"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/13920"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=22036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=22036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=22036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}