‘Low business handicaps NRZ’

“We are here to drive industry and industry drives the economy, but on our part there is nothing to move because most companies are not performing,” said Mr Masikati in an interview at the parastatal’s stand at the Harare Exhibition Park.
“Most of our clients are in Bulawayo and are producing nothing and this is difficult for us.”
Mr Masikati said the parastatal required US$400 million for recapitalisation.
“This is what we require in the short term but in the long term, the rail transport will require US$2 billion to modernise its operations,” he said.
Government, Mr Masikati said, was not providing adequate funds for the revival of the parastatal.
“Treasury promised us US$20 million this year but we received half of that. We understand the liquidity crunch but we also want the money to record progress. Of the US$15million we received last year, US$12 million has gone to the rail we acquired from China. We want the rail to remove cautions to stabilise our rail network countrywide,” he said.
Mr Masikati said the 14 locomotives NRZ had acquired from China to revamp operations were not yet delivered because there were no credit guarantors.
“We are waiting for Government to do something because we made an initial deposit of close to US$3 million long back but nothing has been delivered to date. We want to enhance our capacity and this will be achievable if we get those locomotives,” he said.
He urged the parastatal’s’ clients to participate in the organisation’s public private partnership programme.
“At the moment we have entered into an agreement with Sakunda where they have agreed to finance the refurbishment of 50 tankers.
“In the past we had 1 000 wagons and 10 locomotives financed through PPPs and it is to the advantage of those companies to do so,” he said.
NRZ, he said, would be providing rail leisure to tourists during next year’s United Nations World Organisation general assembly.
“We are also going to play our part during the biggest event and we hope to meet the requirements of our tourists,” he said.