The Tanzania Zambia Railway Authority (TAZARA) management is looking for investors who will rescue it from collapsing following its inability to perform due to lack of capital, according to a report published by East African Business Week.
The Authority spokesperson, Conrad Simuchile says that the company iss under-performing and needs some $3 million a month to operate.
According to the report, Simuchile says that five companies have shown interest in investing in the TAZARA, but their participation still hinges on approval from the management board regarding privatization processes.
Last week the Authority suspended operations in all stations in the Tanzania side and Kasama station in Zambia region due to a workers’ strike demanding their three months unpaid salaries.
Simuchile told East African Business Week, affected all stations located between Dar es Salaam and Tunduma in the Tanzania side and Kasama in Zambia.
“The unionized workers of the TAZARA have illegally withdrawn their labour, demanding their unpaid salaries for February, in some cases, and for March and April 2014, in all cases,” Simuchile said’.
The officer however could not reveal how much the strike could affect the Authority economically from the fact that all production activities had been impeded.
Source: East African Business Week
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