Zimbabwe seeks Afreximbank loan to rescue railway

According to NewZimbabwe.com, the National Railways of Zimbabwe is negotiating a US$115 million Afreximbank loan to acquire 10 locomotives and 315 wagons and repair aging infrastructure. The move comes as NRZ struggles with decades of underinvestment, which has crippled its ability to transport mineral exports efficiently. John Mangudya, CEO of Zimbabwe's sovereign wealth fund Mutapa Investment Fund, disclosed the ongoing negotiations, highlighting the critical need for railway revival. The loan is vital for supporting the mining sector, which relies on rail for bulk exports, and could transform Zimbabwe's logistics if approved.