Over $240 Million Needed for Recapitalization of Zambia Railways Limited
Written by Mafken FM Newsroom on 18 September 2024
By Fridah Chalwe
Zambia Railways Limited (ZRL) has announced the need for $248 million in investment to implement its strategic business plan aimed at recapitalizing the company.
During a media briefing in Lusaka today, ZRL Board Chairperson Emmanuel Hachipuka highlighted that the company is currently operating at a loss due to significant operational challenges that must be addressed.
One of the most urgent issues facing the railway firm is the deteriorating condition of its tracks, which are aged and in poor repair.
Mr. Hachipuka noted that the current track conditions only allow for average train speeds of approximately 15 kilometers per hour.
He explained that deferred maintenance, primarily due to cash flow constraints, has severely impacted the state of the railway infrastructure and rolling stock.
