ZINARA Raises $117 Million For Road Rehab

Zimbabwe National Road Administration (Zinara) corporate communications manager Augustine Moyo last week revealed that the parastatal has raised $117 million for road infrastructure.

The Ministry of Finance is expected to chip in with an additional a $50 million. Said Moyo:

Government’s Roads Reclamation and Development Programme, which is already underway, seeks to reclaim and transform our roads into a world-class network.

It is against this background that Zinara has mobilised $62 million from the $150 million Infrastructure Bond for 2019.

The $62 million has already been disbursed to the Department of Roads for the Harare-Masvingo-Beitbridge highway.

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We also currently have another approved bond for roads with CABS/Old Mutual of $150 million, of which we have raised $55 million on a private placement basis. These are two-year bonds.

More: The Sunday Mail