News / National
NRZ has no properties abroad
27 Aug 2024 at 07:40hrs | Views
THE National Railways of Zimbabwe (NRZ) has dismissed social media reports that it owns properties outside Zimbabwe and has lost records of some of them.
In a statement, the NRZ said it had often been confused with the NRZ Contributory Pension Fund, especially on matters relating to property ownership both within and outside Zimbabwe.
"The NRZ wishes to clarify certain misconceptions which have been trending on social media recently. Firstly, the NRZ does not own any shares and has no direct or indirect link, right or benefit from the London Stock Exchange," it said.
"Furthermore, NRZ does not own any property in the UK as some X users have claimed. NRZ has often been confused with the NRZ Contributory Pension Fund, especially on matters relating to property ownership both within and outside Zimbabwe."
It said the two were separate entities and were accountable individually, with the NRZ not having any rights nor control over properties owned by the pension fund.
"The NRZ clarified this position in a recent presentation to the joint sitting of the Parliamentary Portfolio Committee on Foreign Affairs and on Transport and Infrastructural Development. Secondly, there are claims that the NRZ owns and has legal right to a 2km strip of land on either side of the railway line," it said.
It said the correct position was that 45 metres of land on either side of the tracks was regarded as railway reserve land and was legally gazetted as such, as it was reserved for future railway expansion.
The NRZ did not own any land in Johannesburg nor properties in Zambia and Botswana, adding that the Rhodesia Railways used to own properties in Zimbabwe, Botswana and South Africa, but its assets were shared between successor railway entities, the Zambia Railways Limited and the National Railways of Zimbabwe.
"The Botswana line and properties, as well as a few houses in Mafikeng, South Africa, were thus disposed by the Higher Authority to the Botswana Government and sitting tenants respectively in the 1990s. The mining rights in South Africa that were given to Rhodesia Railways by the late Cecil John Rhodes are jointly owned by NRZ, Zambia Railways and South Africa's state mining entity called Africa Exploration Mining and Finance Corporation at 33,33 percent shareholding apiece," said the NRZ, adding these are managed by an entity called the Pan African Minerals Development Company.
In a statement, the NRZ said it had often been confused with the NRZ Contributory Pension Fund, especially on matters relating to property ownership both within and outside Zimbabwe.
"The NRZ wishes to clarify certain misconceptions which have been trending on social media recently. Firstly, the NRZ does not own any shares and has no direct or indirect link, right or benefit from the London Stock Exchange," it said.
"Furthermore, NRZ does not own any property in the UK as some X users have claimed. NRZ has often been confused with the NRZ Contributory Pension Fund, especially on matters relating to property ownership both within and outside Zimbabwe."
"The NRZ clarified this position in a recent presentation to the joint sitting of the Parliamentary Portfolio Committee on Foreign Affairs and on Transport and Infrastructural Development. Secondly, there are claims that the NRZ owns and has legal right to a 2km strip of land on either side of the railway line," it said.
It said the correct position was that 45 metres of land on either side of the tracks was regarded as railway reserve land and was legally gazetted as such, as it was reserved for future railway expansion.
The NRZ did not own any land in Johannesburg nor properties in Zambia and Botswana, adding that the Rhodesia Railways used to own properties in Zimbabwe, Botswana and South Africa, but its assets were shared between successor railway entities, the Zambia Railways Limited and the National Railways of Zimbabwe.
"The Botswana line and properties, as well as a few houses in Mafikeng, South Africa, were thus disposed by the Higher Authority to the Botswana Government and sitting tenants respectively in the 1990s. The mining rights in South Africa that were given to Rhodesia Railways by the late Cecil John Rhodes are jointly owned by NRZ, Zambia Railways and South Africa's state mining entity called Africa Exploration Mining and Finance Corporation at 33,33 percent shareholding apiece," said the NRZ, adding these are managed by an entity called the Pan African Minerals Development Company.
Source - New Ziana
