President Emmerson Mnangagwa has reiterated the government’s stand on the revival of big industries in the mining, agriculture and manufacturing sectors as top priority. According to the President, top on the government’s agenda is the transformation of the economy and creation of jobs for Zimbabweans.
While addressing a large gathering that witnessed the reception of interim solution equipment under the National Railways of Zimbabwe (NRZ)’s $400 million recapitalisation in Bulawayo yesterday, the President said comprehensive measures were being put in place to revitalise the big industries in order to create a conducive climate for increased investment.
The Diaspora Infrastructure Development Group (DIDG)/Transnet Consortium has partnered with NRZ to recapitalise the NRZ to the tune of $400 million and the deal is expected to be concluded by June this year.
“My Government is seized with the need to rescuscitate large domestic industries in mining, agriculture and manufacturing sectors such as, Zisco, Mashava Mine, Cold Storage Company, Willowvale and David Whitehead Textiles, among others. These are on my agenda to rescuscitate,” he said.
President Mnangagwa, who received the first batch of the leased equipment from South Africa, said a comprehensive strategies have been put in place to revive the transport sector, in particular the railway system, as a key enabler so as to facilitate solid growth in other sectors.
“The rail system is essential in the transportation of bulk and heavy goods in strategic sectors such as mining, agriculture and manufacturing. To this end, the significance of an effective and an efficient railway system cannot be overemphasised, more so in a landlocked economy like ours, as it enhances our ability to compete and integrate ourselves into regional and international markets,” said the President.
Under the interim solution deal, NRZ will lease 13 locomotives, 200 wagons and 34 passenger coaches from Transnet to address key resource gaps in its operations while negotiations for the $400 million recapitalisation package are being finalised. Already 150 wagons, seven locomotives and seven passenger coaches have been delivered with the remainder expected to be in the country by April this year.
Mnangagwa said an efficient railway system will significantly reduce the cost at which Zimbabwe lands its products on the export markets. He described the NRZ-DIDG/Transnet Consortium deal as a turning point in the country’s economy as it provides a strong foundation towards full industrialisation.
Mnangagwa commended DIDG and Transnet for putting together the $400 million deal saying this has come as a boost for his administration’s drive to turnaround the economy.