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    BREAKING NEWS
    $1.1 Billion Senegal’s postponed Ndayane Deep Waterport to be Constructed in Coalition with DP World
    A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development
    $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa’s established Broadband Coverage by 2030
    Nigeria Launches National Domestic Payments Card Program
    In Guinea-Bissau, ECOWAS Parliament held a 3 Day Seminar on the Adoption of a Single Currency for Member African States
    $30 Billion has been pledged by the African Development Bank and Development Partners to Finance Food and Farming in the Next Five Years
    $7.9 Billion in Exports glid in 2021 from the East African Community (EAC) Bloc to Africa amidst the Novel Corona Virus (COVID -19) Consequence
    President William Ruto of Kenya has Urged fellow African Rulers to address on Agribusiness beyond Production to Value Addition and Manufacturing
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    Zimbabwe National Road Administration Pays out US$173 Million for Roads

    Posted On 08 Jan 2020
    By : New Africa Business News, Staff Correspondent
    Comment: 0

    By Abdul Rahman Suagibu –

    Photo Credit: Unsplash

    NEW AFRICA BUSINESS NEWS, Freetown, Sierra Leone- ZIMBABWE National Road Administration (ZINARA) expended $173 million to road authorities in 2019 as Government binarized endeavors to necessitate an efficient transport system befitting an upper middle income economy by 2030.

    The process of disbursing followed a directive to the institution’s new board, led by Engineer Michael Madanha, to stop implementing road projects and reverberate to legislated mandate as enshrined in the Road Act.

    Recipients of the funds were local authorities, department of roads in the Ministry of Transport and Infrastructural Development and the District Development Fund. Precisely, the board also restructured ZINARA following recommendations made in a Grant Thornton forensic audit report in 2019.

    ZINARA board member and Public Relations Committee Chairperson Ms. Lizwe Bhunu informed the press that, funding of road projects was at the heart of the new board in line with Vision 2030.

    “As the new board, we stamped our authority and stopped ZINARA from implementing road projects which is a preserve of road authorities,” said Ms. Bhunu.

    “By doing so, we eliminated a huge chunk of the challenges at ZINARA as most of them were emanating from implementation of these projects.

    “After restoring good corporate governance at the institution last year, ZINARA managed to disburse at least $173 million to road authorities for road projects. Local authorities that acquit their disbursements on time also receive their next disbursements early.”

    Ms. Bhunu said it was the desire of the new board to see ZINARA funding a world-class road network befitting an upper middle income economy by 2030.

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    For New Africa Business News Abdul Rahman Suagibu Reports,  Africa Correspondent

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    $1.1 Billion Senegal's postponed Ndayane Deep Waterport to be Constructed in Coalition with DP World

    A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development

    $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa's established Broadband Coverage by 2030

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    • $1.1 Billion Senegal’s postponed Ndayane Deep Waterport to be Constructed in Coalition with DP World
    • A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development
    • $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa’s established Broadband Coverage by 2030
    • Nigeria Launches National Domestic Payments Card Program
    • In Guinea-Bissau, ECOWAS Parliament held a 3 Day Seminar on the Adoption of a Single Currency for Member African States

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