Search / Recapitalisation
Zimbabwe unveils industrial growth blueprint for automotive sector
The Zimbabwe Industrial Reconstruction and Growth Plan (ZIRGP), a targeted economic manufacturing initiative, has outlined key strategies to boost domestic production of buses and trucks. Running from...Published: 30 Oct 2024 at 07:52hrs | 105 | by Staff reporter
Mthuli Ncube backs down on taxes
The Zimbabwean government has removed value-added tax (VAT) from selected meat products, reduced presumptive taxes for informal traders, and mandated that all government service fees be paid in local ...Published: 26 Jul 2024 at 06:39hrs | 1593 | by Staff reporter
NRZ, Chinese firm in US$500 million investment deal
THE National Railways of Zimbabwe (NRZ) is gaining momentum in its recapitalisation efforts, as it has signed a lucrative agreement with TransTech, a subsidiary of China Railway International Group (C...Published: 20 May 2024 at 09:24hrs | 62 | by Staff reporter
Modernisation of ZDF top priority
The recapitalisation and modernisation of the Zimbabwe Defence Forces is a Government commitment through research, development and learning from friendly nations, the Minister of Defence Oppah Muching...Published: 06 Dec 2023 at 05:03hrs | 11 | by Staff reporter
ZETDC calls for private investment in energy sector
The country's power utility, the Zimbabwe Electricity Transmission and Distribution Company (ZETDC), has implored economic players across all sectors to invest in renewable energy to complement govern...Published: 28 Nov 2023 at 05:15hrs | 1 | by Staff reporter
New brooms at NRZ
THE National Railways of Zimbabwe (NRZ) has appointed Ainah Dube-Kaguru as new chief operations officer (COO) while Patrick Mwashita was appointed to the position of chief finance officer.The ...Published: 27 Jul 2023 at 06:38hrs | 2 | by Staff reporter
'NRZ is an economic enabler'
NATIONAL Railways of Zimbabwe (NRZ) general manager Respina Zinyanduko has called for the recapitalisation of the parastatal so that it plays its economic transformative role by providing cost-e...Published: 25 Jul 2023 at 06:45hrs | | by Staff reporter
NRZ gets US$115m loan to procure new locomotives, wagons
A NEW era is beckoning for the National Railways of Zimbabwe (NRZ), which is expected to tap into a US$115 million line of credit negotiated by the Government towards procurement of new locomotives an...Published: 25 Jul 2023 at 06:39hrs | | by Staff reporter
Unifreight eyes cross-border business
LISTED transport and logistics firm Unifreight Africa Limited has revealed plans to diversify and de-risk the business by actively pursuing cross-border and contract haulage.The company, which...Published: 12 Jul 2023 at 08:18hrs | | by Staff reporter
Zimbabwe pens US$81,2m NRZ wagons, locomotives deal
THERE is a ray of light for the National Railways of Zimbabwe (NRZ), after Government signed a US$81,2 million deal with India for the procurement of 315 wagons and nine locomotives.The potentiall...Published: 16 Jun 2023 at 07:48hrs | | by Staff reporter
Massive staff exodus hits Mutare
MASSIVE staff exodus has hit Mutare City Council's fire and health departments as employees seek greener pastures due to poor remuneration and working conditions.In her presentation to the res...Published: 03 Apr 2023 at 06:28hrs | | by Staff reporter
Turkish firm makes headway in NRZ deal
THE National Railways of Zimbabwe (NRZ) says Turkish investor Yapi Merkezi, which plans to recapitalise and modernise its railway system, has completed a feasibility study on the project.In 20...Published: 19 Feb 2023 at 17:35hrs | 11 | by Staff reporter
Appointment of 81 year old Col Dube to NRZ board clarified
THERE is nothing irregular about the appointment of former Cabinet Minister and freedom fighter Colonel (Retired) Tshinga Dube to the board of the National Railways of Zimbabwe (NRZ) since this was ju...Published: 30 Jan 2023 at 07:10hrs | | by Staff reporter
$6 billion for new Zupco buses
Government will spend $6 billion to recapitalise Zupco next year in a development set to enhance service delivery and modernise the mass public transport system.Presenting the 2023 National Bu...Published: 04 Dec 2022 at 08:05hrs | | by Staff reporter
US$1,5m biscuit plant opens in Bulawayo
AGRO-PROCESSING factory, Flynote Investments Private Limited, has channelled more than US$1,5 million towards the establishment of new biscuit and stockfeed manufacturing units.Flynote Investm...Published: 30 Nov 2022 at 05:03hrs | | by Staff reporter
Govt to recruit 7 000 teachers
The GOVERNMENT will recruit an additional 7 000 teachers next year to enhance the delivery of quality education, with special focus on infant education.In the 2023 National Budget tabled in Pa...Published: 27 Nov 2022 at 14:51hrs | | by Staff reporter
Drones help NRZ recover stolen equipment
THE National Railways of Zimbabwe (NRZ) has recovered the bulk of its stolen equipment following the massive capacitation of its loss control unit in terms of human resources and acquisition of drones...Published: 17 Oct 2022 at 06:05hrs | | by Staff reporter
350 000 households seek Zesa grid connection
MORE than 350 000 households who have applied for electricity connection are still waiting to be connected to the grid, the Zimbabwe Electricity Transmission and Distribution Company (ZETDC) has said....Published: 11 Oct 2022 at 06:03hrs | | by Staff reporter
Top Belarus official jets into Zimbabwe
BELARUSIAN Deputy Prime Minister, Mr Piotr Parkhomchik, arrived in Zimbabwe yesterday and is expected to hold bilateral meetings with various ministries as the two countries seek to deepen their long ...Published: 10 Oct 2022 at 06:05hrs | 8 | by Staff reporter
Zimbabwe gold deliveries climb to 26 tonnes
Gold deliveries to Fidelity Gold Refinery in the nine months to September 2022 grew by 36 percent to 25,7 tonnes, from 18,9 tonnes in the same period a year earlier, raising the prospect that Zimbabwe...Published: 09 Oct 2022 at 07:50hrs | | by Staff reporter
'Pravin Gordhan disposing SAA in a fraudulent and corrupt manner'
Suspended public enterprises director-general Kgathatso Tlhakudi has filed a damning affidavit at the labour court this week accusing Minister Pravin Gordhan of "unlawfully" removing him from his posi...Published: 02 Oct 2022 at 16:47hrs | 3 | by Staff reporter
Harare-Kanyemba Road construction: 2km opened to traffic
The redesigning and rehabilitation of the Harare-Kanyemba Road in Mashonaland Central Province has moved a gear up following the completion and opening up of about 2km to traffic of part of the stretc...Published: 29 Jul 2022 at 06:47hrs | 2 | by Staff reporter
Mnangagwa talks tough on illegal mining
THE Government will not tolerate timber poaching, illegal mining, settlements in plantations, and deforestation as that will impede the rural industrialisation agenda being driven by the Second Republ...Published: 23 Jul 2022 at 07:25hrs | 1 | by Staff reporter
NRZ looting unearthed
AN internal audit has uncovered corporate governance rot, and looting at ailing parastatal National Railways of Zimbabwe (NRZ) with board chairperson Martin Dinha (pictured) and his board allegedly bl...Published: 24 Jun 2022 at 08:20hrs | | by Staff reporter
NRZ assets revalued to US$3 billion
NATIONAL Railways of Zimbabwe (NRZ)'s assets have been revalued at over US$3 billion, meaning the parastatal is not insolvent as previously alleged, a senior official said.Previously, the Stat...Published: 23 May 2022 at 06:35hrs | | by Staff reporter
Zimbabwe's platinum output rises 6%
ZIMBABWE'S platinum output increased by 6% to 475 000 ounces (oz) last year as the backlog of semi-finished inventory was processed through South African smelters and refineries, the World Platinum In...Published: 13 Mar 2022 at 08:07hrs | 1 | by Staff reporter
RBZ tells banks to shape up or ship out
BANKING sector experts have thrown their weight behind the Reserve Bank of Zimbabwe (RBZ)'s move to tighten screws on operators that fail to comply with new minimum capital requirements, which came in...Published: 18 Feb 2022 at 05:34hrs | | by Staff reporter
Local bus assembly begins next month
ZIMBABWE is set to begin assembling local buses next month and boost the motoring industry, create jobs and aid the Government's push for a modern and reliable mass public transport system.The...Published: 13 Feb 2022 at 20:39hrs | | by Staff reporter
Chiyangwa's company suspended from ZSE
The Zimbabwe Stock Exchange (ZSE) has suspended trading of ZECO Holdings shares effective 8 February 2022 for breaching the ZSE Listing requirements after the company entered a significant transaction...Published: 08 Feb 2022 at 18:06hrs | 7 | by Staff reporter
RBZ comes hard on bank shareholders
SHAREHOLDERS at financial institutions that have failed to meet new minimum capital requirements will forgo dividends until their firms comply with the central bank's directives, the Reserve Bank of Z...Published: 08 Feb 2022 at 05:37hrs | | by Staff reporter
NRZ to finalise Turkish deal
THE National Railways of Zimbabwe (NRZ) is finalising funding requirements for its recapitalisation deal with Turkish investor Yapi Merkezi, with the Hwange to Harare railway line set to be given prio...Published: 23 Jan 2022 at 08:00hrs | | by Staff reporter
Zimbabwe firms predict gloom
MORE than three quarters of businesses across various sectors of the economy have said the ease of doing business in Zimbabwe was unfavourable as a result of policy inconsistencies and limited financi...Published: 12 Dec 2021 at 19:14hrs | 5 | by Staff reporter
Air Zimbabwe to buy new planes next year
TREASURY will support flag carrier, Air Zimbabwe, to recapitalise through acquisition of new planes and expand its routes in 2022 under the airline's six-year strategic turn-around plan.The pl...Published: 03 Dec 2021 at 05:21hrs | 6 | by Staff reporter
Zupco creates 7 000 jobs
THE Zimbabwe United Passenger Company (Zupco) has created more than 7 000 jobs since the beginning of its revival programme in January 2019, with more drivers and conductors set to be employed as the ...Published: 21 Nov 2021 at 08:10hrs | 7 | by Staff Reporter
NRZ to cut on hired wagons, locomotives
THE National Railways of Zimbabwe (NRZ) is working on a framework to reduce wagons and locomotives hired from third parties as part of a broader scope to save the organisation millions of dollars in f...Published: 15 Nov 2021 at 05:21hrs | 7 | by Staff reporter
ZNCC backs call for power tariff hike
THE Zimbabwe National Chamber of Commerce (ZNCC) yesterday said government should grant troubled power producer, Zesa Holdings, authority to hike power tariffs and give impetus to its recapitalisation...Published: 11 Nov 2021 at 06:21hrs | 5 | by Staff reporter
Govt re-launches Zupco freedom train in Bulawayo
GOVERNMENT has re-launched the Zimbabwe United Passenger Company (Zupco) commuter train in Bulawayo to provide affordable transport services to residents.This follows an outcry by residents ov...Published: 10 Nov 2021 at 05:35hrs | 5 | by Staff reporter
Commuter train back on track
The journey is not at breakneck speed because of numerous stops along the way before reaching the final destination.The National Railways of Zimbabwe (NRZ) on Monday evening officially launche...Published: 10 Nov 2021 at 05:33hrs | 7 | by Staff reporter
Zupco pays NRZ ZW$14m monthly
THE Zimbabwe United Passenger Company (Zupco), which partnered the National Railways of Zimbabwe (NRZ) in providing an urban commuter transport service, is paying the rail parastatal ZW$14 million (ab...Published: 23 Oct 2021 at 23:52hrs | | by Staff reporter
Industry in fresh push for bailout
ZIMBABWE'S manufacturing sector has escalated its push for State-assisted bailout packages to stem a blazing crisis precipitated by the COVID–19 pandemic, a deteriorating foreign currency crisis and...Published: 15 Oct 2021 at 06:21hrs | | by Staff reporter
Zimbabwe coal miners get nod to export excess stock
Zimbabwe's coal producers have obtained temporary permits to export excess stock of power coal that have piled up due to low uptake by the Zimbabwe Power Company (ZPC).Frequent breakdowns at Z...Published: 01 Oct 2021 at 07:52hrs | 3 | by Staff reporter
NRZ-Turkish deal takes off
YAPI MERKEZI, the Turkish company which recently signed a Memorandum of Understanding with the National Railways of Zimbabwe (NRZ) to recapitalise and modernise the nation's railway system, has starte...Published: 26 Sep 2021 at 19:32hrs | 1 | by Staff reporter
Indonesia sets sights on NRZ
SOUTHEAST Asian nation, Indonesia, seeks to clinch deals in Zimbabwe's various economic sectors such as pharmaceuticals, rubber and the railways, an official has said.A representative of the I...Published: 24 Sep 2021 at 09:49hrs | 1 | by Staff reporter
Turkish investors arrive for NRZ deal
The recapitalisation of the National Railways of Zimbabwe is pacing up, with representatives of the Turkish construction company Yapi Merkezi that is keen to invest in the railway firm, arriving in Zi...Published: 08 Sep 2021 at 06:08hrs | | by Staff reporter
NRZ clears $326m salary arrears
The National Railways of Zimbabwe (NRZ) has cleared its legacy salary arrears that accrued from 2012, after paying out $326 million to employees from its coffers, in a development that is expected to ...Published: 07 Sep 2021 at 18:25hrs | 6 | by Staff reporter
Council splashes on luxury cars
MUTARE City Council has bought luxury vehicles for its top executives amid reports that at least US$320 000 has been set aside for the exercise.Mayor Blessing Tandi told Standard- people on Fr...Published: 01 Aug 2021 at 06:51hrs | | by Staff reporter
DIDG seek NRZ deal revival
THE Diaspora Infrastructure Development Group (DIDG) has pleaded with the Government to consider resuscitating its US$400 million National Railways of Zimbabwe (NRZ) recapitalisation proposal. ...Published: 27 Jul 2021 at 07:12hrs | 1 | by Staff reporter
Air Zimbabwe says administrators rescued the insolvent airline
AIR Zimbabwe administrators Grant Thornton, whose term of office came to an end last week when government appointed a six-member board, saved the airline from litigious creditors and set the troubled ...Published: 17 Jul 2021 at 15:26hrs | 7 | by Staff reporter
Zanu-PF dismisses fake news
Zanu-PF has dismissed as fictitious, a report in a local daily newspaper yesterday claiming the ruling party has failed to fulfil its 2018 election promises. In a statement yesterday, Za...Published: 16 Jul 2021 at 09:02hrs | 1 | by Staff reporter
CSC investor starts abattoir refurbishment
UNITED Kingdom-based Cold Storage Commission (CSC) investor, Boustead Beef Limited, last week began refurbishing the company's abattoir in preparation for its re-opening, Southern Eye can reveal....Published: 12 Jul 2021 at 07:42hrs | 2 | by Staff reporter
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