Online Reporter
Freeman Razemba
Senior Reporter
GOVERNMENT has reaffirmed its support for Air Zimbabwe’s efforts to strengthen strategic partnerships, expand regional connectivity and enhance the country’s position as an aviation and tourism destination as the national airline intensifies its turnaround strategy.
Speaking at Air Zimbabwe’s fourth annual general meeting (AGM) in Harare yesterday, Transport and Infrastructural Development Deputy Minister Joshua Sacco said the airline was entering a new phase of governance and investment oversight following its transfer to the Mutapa Investment Fund.
The AGM focused on corporate governance, financial restructuring and an integrity-driven turnaround strategy for the year ended December 31, 2024.
Deputy Minister Sacco said the reforms were in line with the Government’s broader objective of ensuring that State-owned enterprises operate with greater accountability, professionalism and commercial discipline.
“The 2024 financial year was significant in this regard. Following the transfer of Air Zimbabwe to the oversight of the Mutapa Investment Fund in terms of Statutory Instrument 156 of 2023, the airline entered a new phase of governance and investment oversight,” he said.
The Deputy Minister commended the airline for strengthening its governance structures through the appointment of a fully constituted skills-based board and key executives, including a chief finance officer, company secretary and risk officer.
Deputy Minister Sacco also welcomed progress made in addressing historical financial reporting and governance backlogs.
“The completion and audit of the 2020, 2021 and 2022 financial statements, followed by the restoration of the annual general meeting cycle, demonstrate that Air Zimbabwe is progressively returning to a culture of statutory compliance, transparency and accountability,” he said.
Air Zimbabwe remains a critical enabler of national connectivity, tourism development, trade and regional integration.
According to the Deputy Minister, the airline transported 33 676 passengers in 2024, connecting Zimbabwe with regional destinations such as Johannesburg and Dar es Salaam, while maintaining domestic routes to Victoria Falls and Bulawayo.
He highlighted the strong performance of the cargo division, which recorded significant growth during the period under review.
“The performance of the cargo business is particularly noteworthy. Cargo volumes increased by 59,4 percent, while regional cargo volumes grew by more than 101 percent.
“This demonstrates the potential for Air Zimbabwe to diversify its revenue base and support the movement of goods, agricultural produce, tourism-related products and other commercial cargo within Zimbabwe and the region.”
Deputy Minister Sacco urged management to continue developing cargo operations as a strategic component of the airline’s business model.
However, he noted that the passenger load factor of about 46 percent remained an area requiring attention, adding that improvements were needed in fleet availability, route economics, customer experience, digital platforms and strategic partnerships.
“The Government also supports the airline’s efforts to strengthen strategic partnerships, expand regional connectivity and pursue opportunities that enhance Zimbabwe’s position as an aviation and tourism destination,” said Deputy Minister Sacco.
Air Zimbabwe board chairman Dr Silvanos Gwarinda said the year under review marked a defining chapter in the airline’s history.
“While the airline continued to operate in a challenging global and domestic aviation environment characterised by high operating costs, constrained liquidity, supply chain disruptions and increasing regulatory demands, it also laid a solid foundation for long-term recovery and sustainable growth,” he said.
