NRZ finalising US$115m Afreximbank loan

Farirai Machivenyika
Senior Reporter
The National Railways of Zimbabwe is finalising a US$ 115 million loan deal with Afreximbank to go towards the rehabilitation of infrastructure.
This was said by Mutapa Investment Fund deputy chief investment officer, Mr Enerst Denhere, in his presentation to the Parliament’s Public Accounts Committee today.
The money will go towards the rehabilitation of rail, locomotives and wagons to improve the performance of the parastatal.
At its peak, the NRZ moved around 12 million tonnes in freight, but the figure has drastically dropped to 2,1 million tonnes.
Mr Denhere said the NRZ has adopted a phased approach in its turnaround strategy that includes infrastructure rehabilitation and the expansion of operations.

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