ZRL DEVELOPS NEW STRATEGIC BUSINESS PLAN TO RESPOND TO BUSINESS DYNAMICS- MR. HACHIPUKA
Zambia Railways Limited (ZRL) has developed a new Strategic Business Plan (SBP) to respond to business dynamics as well as align to the New Government’s vision as highlighted in the 8th National Development Plan.
Speaking during a Press Briefing this morning, Zambia Railways Limited Board Chairperson Mr. Emmanuel Hachipuka disclosed that the Board revised the 2021-2025 Strategic Business Plan following non-actualization of the major assumptions in the plan.
The Board Chairperson said the new Board realizes that the company is faced with many challenges, adding that it was imperative that the challenges were addressed head on, with urgency and determination in order to ensure the continued relevance of the company in the rapidly evolving business environment hence the development of the new SBP.
“I am pleased to announce that the thrust of the new SBP for the period 2024-2028 is to remove Temporary Speed Restrictions, repair the existing rolling stock and acquire new equipment. This will translate in improved utilization, equipment turn around, human and working capital and increased revenue.” said Mr. Hachipuka
He added that the company requires an investment valued at USD248.24million to be funded in order to implement the SBP.
And Mr. Hachipuka disclosed that one of the most pressing challenges that ZRL is facing is the current track condition which is aged and in a poor condition.
He said the deferred maintenance due to cash flow constraint has largely contributed to the current condition of disrepair of the railway infrastructure and rolling stock.
The Board Chairperson said the rolling stock capacity constraint is impacting on efficiency and service delivery in general.
Mr. Hachipuka urged members of the Board, employees and all stakeholders to join hands in overcoming the obstacles by embracing the spirit of determination.
“With our new Strategic Business Plan as our compass, we are poised to overcome obstacles, seize opportunities, and write a new chapter of business growth for Zambia Railways Limited.” Said Mr. Hachipuka.
