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Alba Iulia
Thursday, May 28, 2020

TAZARA to be recapitalized-Ministers

Economy TAZARA to be recapitalized-Ministers

Tazara
Tazara

The Council of Ministers from Zambia and Tanzania has resolved to finance the re-capitalization of the Tanzania-Zambia Railways.

During a meeting held in Dar-es-salaam, the Council of Ministers notes that the performance of Tazara remained below break-even point and therefore requires immediate action to improve the situation.

In a joint communique the Council Ministers notes the need to review the Tazara Act as it was nearing final conclusion and the Bilateral Agreement to pave way for the revision of the Act which will be signed by the end 2019.

The Council of Ministers are targeting to develop a bankable business plan by March 2020 and also resolved the need to restructure the Authority once the Tazara Act is reviewed.

It was also agreed that in order to foster business for Tazara, preferential policies will have to be passed in the respective countries for at least 30 percent of bulky cargo to be transported by rail.

Transport and Communications Minister Mutotwe Kafwaya represented Zambia as chairperson while Engineer Isack Kamwelwe Tanzania’s Minister of Works, Transport and Communications, signed on behalf of Tanzania as co-chairperson.

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3 COMMENTS

  1. How many times will this sink-hole be recapitalised before we can realise it can never make a profit in government hands?

  2. Zambia, we failed to remit our contribution to the joint project with Botswana for the bridge and Botswana had to pay our share. I see the same happening with Tazara. We lack seriousness and enjoy embarrassment

Comments are closed.

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