TAZARA receives $80m cash injection
The Governments of Zambia and Tanzania (the equal owners of TAZARA), are set to inject $80m into the operations of TAZARA over the next 12 months. 11.5% of the amount will immediately be allocated toward paying two months of employee salary arrears as well as some working capital.
It's no secret that the entity has been facing many challenges of a financial and operational nature for a very long time which have not been adequately addressed. The railway was built 40 years ago by the Chinese government who had also ponied-up $500m dollars (in the 70s) for the project. TAZARA was among the top items on the agenda of the Chinese VPs recent visit to both Zambia and Tanzania. Last month, China Railway Construction Corporation (CRCC), who are the contractor and consultant of TAZARA said they were in the final stage of selecting a new management modality of running TAZARA which would see the entity move from a socialism type management to a more market-focused management.
Zambeef makes Boston Consulting Group's 'top 50 emerging market local dynamos' list
Zambeef Plc made global consulting firm Boston Consulting Group's (BCG) list of '50 Emerging Market Local Dynamos'. The list (not exhaustive) contains 50 private companies that were selected by BCG under the following criteria:
Barricks Lumwana mine rumored to be up for sale
Several prominent publications have reported that Barrick Gold could be open to a $1bn plus offer to take Lumwana mine off its hands. Barrick is looking to trim assets in order to trunaround 4 years of disappointing performance and pay down debt.
Trying to decipher this puzzle that is Zambia by using a variety of publicly available data (structured and unstructured) in conjunction with my own skill/experience. * * *