Tanzania Zambia Railway Authority (TAZARA) requires USD 770.11m to solve its challenges, it has said in a New Year message e-mailed to The Guardian.
The message issued by the TAZARA Managing Director Akashambatwa Mbikusita Lewanika to mark the end of the year and beginning of 2012, said the needs must be considered in the fuller context of the authority’s place in the development of the Tanzanian and Zambian economies, as well as its equally positive place in the sub-regional transportation and communications for serving development and trade.
He called on the governments of Tanzania and Zambia to put up the needed resources, saying each must put up half of the money.
He said that once the recommended measures are taken, they would result in improving operations and the infrastructure, whilst at the same time enabling the authority to source investment capital from commercial lending institutions and provide the requisites for the smooth operations.
“Such a move would establish the authority as an economically sound and financially viable company and, in the long run, lighten the burden on state treasuries, adding that overall, it would enhance the economic and social development contribution to Tanzania and Zambia as well as other SADC, COMESA and EAC countries.
He commended the Governments of Tanzania and Zambia for the support that has been granted to TAZARA through the respective 2012 national budgets and called for long-lasting and comprehensive resolution of the long-standing challenges.
Mbikusita-Lewanika reiterated that the authority needs long-lasting comprehensive solutions to the long-standing problems that the Authority faces and that it was encouraging to see the two shareholding Governments taking steps towards that.
“There is no option for either abandoning the authority or continuing with piece meal interventions on the part of share holding governments. There is equally no merit in continuing to rely on external loan financiers of ad hoc equipments or services. What is called for is a comprehensive solution and nothing else.”