Zimbabwe Seeks 115M Rail Loan
Zimbabwe is negotiating a 115 million dollar facility with Afreximbank to fund new locomotives and wagons for its state railway operator. The National Railways of Zimbabwe requires significant investment to modernize its infrastructure and boost freight capacity.
Zimbabwe is negotiating a $115M loan from Afreximbank to acquire 10 locomotives and 315 wagons for its state railway operator. The funding targets rolling stock upgrades as the rail network seeks to recover from decades of under-investment. Freight volumes collapsed from 12M tons in the 1990s to 2M tons.
Mutapa Investments Chief Executive Officer John Mangudya said the package will also finance critical infrastructure repairs. NRZ requires a total investment of $600M to fully modernize its operations.
