TAZARA Board of Directors Approves 2024/2025 Budget And Advances Revitalisation Plans
Issued on the Occasion of the 122nd Meeting of the TAZARA Board of Directors
The Tanzania-Zambia Railway Authority (TAZARA) Board of Directors held its 122nd meeting virtually on 26 July 2024. The meeting was attended by:
- Dr. Ally Possi, representing the Permanent Secretary, Ministry of Transport, Tanzania, Prof. Godius Kahyarara, Chairperson.
- Mr. Stephen Mbewe, representing the Permanent Secretary, Ministry of Transport and Logistics, Zambia, Eng. Fredrick Mwalusaka, Co-Chairperson.
- Mrs. Irene Mwamba Lumbwe and Mr. Sichizuwe Musokotwane, Board Members from Zambia.
- Prof. Razack Lokina and Mrs. Rukia Shamte, Board Members from Tanzania.
The Board deliberated on various matters pertaining to the Authority’s operations and reached several key resolutions, including the following:
Annual Budget for the Financial Year 2024/2025
The Board reviewed and approved Management’s proposed annual budget. The targets for the financial year 2024/2025 were set at 350,000 metric tons of freight traffic and 3,430,000 passengers. The projected total income is USD 55.19 million, anticipated from various sources including freight, parcels, passenger traffic, open access fees, and other non-operational activities.
Status Report on the Revitalisation of TAZARA
The Board was briefed on the ongoing efforts to revitalise TAZARA with the involvement of investors from the People’s Republic of China. The Board noted the importance of expediting the process to conclude negotiations and have a Memorandum of Understanding signed by September 2024.