NRZ holds AGM as rail revival gathers pace

THE National Railways of Zimbabwe (NRZ) is holding its Annual General Meeting in Bulawayo today (Tuesday) amid renewed efforts to revive the country’s rail freight system through private-sector partnerships and fresh investment.

The 9th and 10th AGMs will receive and consider the parastatal’s audited financial statements for the years ended December 31, 2022 and 2023, together with reports from the chairperson, chief executive officer and auditors.

The meeting comes as NRZ steps up efforts to rebuild its ageing fleet and infrastructure after years of under-investment.

Recently, the parastatal commissioned three refurbished locomotives and 100 wagons in Harare following a US$2,5 million investment by mining giant Zimasco under a public-private partnership.

Zimasco funded critical spares and consumables worth about US$2,46 million, while the refurbishment was carried out at NRZ’s Bulawayo Mechanical Workshops.

The programme included wheel profiling aimed at improving the durability, reliability and safety of the rolling stock.

The partnership is part of Government’s National Development Strategy 2 drive to increase private-sector participation in the rehabilitation of the rail network.

NRZ has also entered into a partnership with Beitbridge Bulawayo Railway (BBR), a unit of South African logistics group Grindrod, with Zimbabwean logistics firm Silvergill also involved.

The partnership recently facilitated the launch of lithium concentrate exports from Gwanda Lithium Mine to the Port of Maputo in Mozambique, with the first freight train carrying 1 000 tonnes departing from the newly commissioned BBR West Nicholson siding.

Now under the Mutapa Investment Fund, NRZ is pursuing a major recapitalisation programme.
Mutapa is negotiating a US$115 million Afreximbank facility to acquire 10 locomotives and 315 wagons while rehabilitating critical infrastructure.

A separate US$6 million package is expected to support the refurbishment of 520 wagons and maintenance equipment.

The investment push comes as NRZ seeks to recover from a steep decline in freight volumes, which fell from 12,4 million tonnes in 1998 to about 2,03 million tonnes last year.

NRZ is targeting 3,01 million tonnes this year and 12 million tonnes by 2030 as it seeks to restore rail’s role in Zimbabwe’s logistics and export economy.