Online Reporter
Nqobile Bhebhe
Business Reporter
THE National Railways of Zimbabwe (NRZ) has appointed Mr Munyaradzi Stephen Charangwa as its new chief executive officer (CEO), marking a significant shift from the traditional general manager structure, as the parastatal moves to strengthen corporate governance, enhance accountability and accelerate ongoing reforms.
The appointment, which is effective April 1, signals a deliberate transition towards a modern executive leadership model aimed at repositioning the rail operator for growth and improved service delivery.
In a statement on Saturday last week, the parastatal said: “National Railways of Zimbabwe (NRZ) is pleased to announce the appointment of Mr Munyaradzi Stephen Charangwa as its new chief executive officer, effective April 1, 2026.
“NRZ board chairperson Dr Misheck Sibanda announced the appointment of Mr Charangwa during a meeting with senior management in Bulawayo on Wednesday (recently).”
The NRZ said Mr Charangwa brings over 20 years of global experience in multi-asset investment management, programme and project management, as well as business turnaround strategies.
“His expertise spans infrastructure development, capital resource mobilisation and business performance optimisation, with a focus on emerging markets and frontier markets in Africa, Middle East and Central Asia.”
Previously, Mr Charangwa served as head of investments at the Zimbabwe Investment and Development Agency (ZIDA) and Old Mutual and as the Government investment adviser to NRZ and other State-owned enterprises.
“As a highly qualified professional, Mr Charangwa holds a BA (Hons) Management degree from Leeds University, a postgraduate diploma in Business Project Management from the University of Huddersfield and an MSc in Investment Analysis (with Distinction) from the University of Stirling,” added NRZ.
Dr Sibanda said the new CEO has been tasked with spearheading the recapitalisation and resource mobilisation drive to secure modern infrastructure, rolling stock and systems to improve reliability and customer service.
He further said Mr Charangwa is expected to lead a comprehensive review of NRZ operations, which includes eliminating inefficiencies, implementing rigorous cost-cutting measures and safeguarding service quality and safety.
“The board chairperson highlighted that the new CEO is expected to effect sound governance systems, uphold transparency and deal with corruption decisively, as well as strictly adhere to statutory frameworks.”
Mutapa Investment Fund deputy chief investment officer Mr Ernest Denhere challenged Mr Charangwa to turn around NRZ’s fortunes, underscoring the strategic importance of rail infrastructure.
“Railway infrastructure is a strategic national and regional asset, central not only to Zimbabwe’s economic recovery but also to regional trade, in promoting north-south corridors, transit, logistics and integration within Southern Africa,” he said.
Meanwhile, Mrs Ainah Dube-Kaguru, who has been acting general manager for the past year, has been appointed deputy CEO, reinforcing the new executive leadership structure.
She has been the substantive chief operations officer since 2023.
“The NRZ is confident that the combined wealth of expertise and experience possessed by Mr Charangwa and Mrs Dube-Kaguru will help to drive the company’s growth and transformation.”
NRZ is among nearly 30 State-owned enterprises whose assets were transferred to capitalise the Mutapa Investment Fund, as the Government intensifies efforts to unlock value and improve performance of public entities.
The rail operator is currently undergoing a major recapitalisation programme aimed at restoring operational efficiency and service delivery. Key interventions include the procurement of critical rolling stock — locomotives, wagons and coaches — to boost capacity, as well as the rehabilitation and upgrading of track infrastructure, signalling and communication systems, electrical infrastructure, and plant and equipment. In addition, NRZ is modernising its information and communication technology systems as part of broader efforts to reposition the entity as a reliable backbone of the country’s logistics and transport sector.
