Zinara on course to clearing DBSA debt

The Zimbabwe National Road Administration (Zinara) has made significant progress in reducing its US$200 million debt with the Development Bank of South Africa (DBSA), now owing US$59 million. Zinara board chair George Manyaya reported this update to the Public Accounts Committee, noting that clearing the debt would unlock funding for infrastructure development.

Zinara entered an interest recalculation contract with the Interest Research Bureau of Zimbabwe (IRBZ) in February 2020, focusing on the DBSA loan. By September 2021, Zinara requested DBSA to provide loan book information for interest calculation.

Manyaya also highlighted that Zinara had resolved 66 out of 71 issues raised in the 2019 Grant Thornton forensic audit, with the remaining issues pending in court. The audit addressed governance practices, financial controls, disbursement management, human capital, and procurement management.

Zinara has aligned its operations with audit recommendations and the Roads Act, restructured major supplier contracts, and the DBSA loan, which financed the Mutare-Plumtree Highway upgrade. Manyaya emphasized that Zinara is implementing a strategy focused on integrity, capacitation, engagement, and automation, and is in the final stages of procuring an e-tolling system.