News / National
Nkosinathi Ncube led ZINARA scoops top award for revenue collection
27 Mar 2025 at 06:07hrs | Views
The restructuring of the Zimbabwe National Road Administration (ZINARA) has proven to be a game-changer, as the institution's Board Chairperson and Chief Executive Officer (CEO) won top honors in the revenue collector's category at the 2025 Performance-Based Contracts Awards and Signing Ceremony.
President Mnangagwa conferred the awards at State House on Monday, recognizing the two leaders as the overall best-performing Board Chairman and CEO, respectively. This accolade comes as ZINARA has been lauded for its remarkable transformation over the past five years, marked by restructuring and various reforms that culminated in major progress recorded in 2024.
ZINARA has successfully transitioned into a transparent and financially stable state entity, significantly contributing to national infrastructure development projects - shedding a past marred by governance deficiencies and mismanagement. In its latest report, ZINARA highlighted key achievements in financial management, governance, operational efficiency, and road infrastructure funding, ushering in a new era of accountability and progress.
ZINARA's operational efficiency saw a dramatic turnaround, with the organization collecting ZWG$6.6 billion (US$346.3 million) in 2024, doubling its prior-year performance of ZWG$3.3 billion and surpassing its target of ZWG$5.6 billion. The institution recorded significant revenue from licensing fees, tolling fees, fuel levies, and transit fees, all exceeding previous targets. In a historic achievement, ZINARA received a clean audit for its 2023 financial statements—the first since its incorporation. Additionally, the organization resolved 67 percent of the issues raised in the Auditor-General's 2023 Report to Management, recording the highest compliance rate in the public sector for the year.
ZINARA has also made significant progress in managing its loan obligations. The balance of its Development Bank of Southern Africa (DBSA) loan was reduced from US$165 million in December 2020 to US$42 million by December 2024. The organization successfully negotiated a lower interest rate, dropping from 8.16 percent in 2020 to 5 percent, easing its financial burden and freeing up funds for critical infrastructure projects.
With these milestones, ZINARA's turnaround story reflects its commitment to sound financial management, transparency, and effective service delivery.
President Mnangagwa conferred the awards at State House on Monday, recognizing the two leaders as the overall best-performing Board Chairman and CEO, respectively. This accolade comes as ZINARA has been lauded for its remarkable transformation over the past five years, marked by restructuring and various reforms that culminated in major progress recorded in 2024.
ZINARA has successfully transitioned into a transparent and financially stable state entity, significantly contributing to national infrastructure development projects - shedding a past marred by governance deficiencies and mismanagement. In its latest report, ZINARA highlighted key achievements in financial management, governance, operational efficiency, and road infrastructure funding, ushering in a new era of accountability and progress.
ZINARA has also made significant progress in managing its loan obligations. The balance of its Development Bank of Southern Africa (DBSA) loan was reduced from US$165 million in December 2020 to US$42 million by December 2024. The organization successfully negotiated a lower interest rate, dropping from 8.16 percent in 2020 to 5 percent, easing its financial burden and freeing up funds for critical infrastructure projects.
With these milestones, ZINARA's turnaround story reflects its commitment to sound financial management, transparency, and effective service delivery.
Source - The Herald
