IDC APPOINTS NEW ZAMBIA RAILWAYS LIMITED BOARD

The Industrial Development Corporation (IDC) has appointed new Board of Directors for Zambia Railways Limited (ZRL).

Speaking at the inauguration ceremony today, IDC Group CEO Mr Mateyo Kaluba told the new Board that the vision of IDC is to have a modernized railway company with improved operational efficiencies, service delivery standards as well as profitability.

Mr Kaluba said the growth of Zambia Railways is necessary as it will ultimately contribute to economic growth of the country.

“As shareholders we are elated by ZRL’s strategic direction of transforming the railway company into a total logistics solution provider. The transformation agenda fits in with the IDC goal on value addition” said Mr Kaluba.

Mr Kaluba has urged the new Board to play a pivotal role in positioning ZRL as a key player in transforming Zambia into a transport hub given the divergent areas of expertise and experience of the members.

“The introduction of SI No. 7 of 2018 on heavy and bulk cargo remains one of the many milestones witnessed in the history of the rail subsector in the country. In the last few years, ZRL has recorded an increase in both tonnage and revenue of about 31 percent and 25 percent respectively” the IDC Group CEO said.

Meanwhile new ZRL Board Chairperson Dr. Evans Chabala reiterated the significant role that the railways play in the economy stating that having ZRL as a viable logistics business would also ensure that there is competition in the market regarding freight costs which would translate into better financial performance of business.

“Imagine a scenario where Zambia Railways hauls a total of 6million tonnes a year. That would be equivalent to 200,000 trips of road freight trucks. The impact of this on the economy would be phenomenal. In addition, removing so many trucks from the road network would allow the economy to save significantly in terms of the cost of maintenance of roads due to the wear and tear” said Dr Chabala.

The newly appointed Directors are Dr Evans Chabala who is the Chairperson,Kabwe Chamber of Commerce and Industry President, Ms Christabel Ngongola –Reinke (Vice Chairperson) ,Engineering Insitution of Zambia President , Eng. Abel Ng’andu(Member) , Director Planning and Monitoring at Ministry of Transport and Communications, Mr Stephen Mbewe(Member), Kabwe Businessman , Mr Stanley Mwangule Kasengo(Member) and Chief Investments Officer at IDC ,Mr Muchindu Kasongola(Member) .