Zimbabwe cancels funding deal for struggling railways - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

Once the preferred mode of transport for Zimbabweans, the southern African country's rail network has mirrored its economic decline.On Thursday, the government announced that it is canceling a deal to recapitalise the financially struggling state-owned National Railways of Zimbabwe , to the tune of $400 million.

But a government official said several deadlines to provide proof of funding had been missed and that differences had emerged between consortium partners, leading DIDG to present a funding structure that excluded Transnet.

Because there is no room for kickbacks.

Bullied by China to cancel the deal already.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

WATCH | Eskom media briefing - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Eskom Interim chairman and chief executive officer (CEO), Jabu Mabuza has announced that the power utility’s acting will be having a media briefing tonight to inform the country on its future plans for load shedding. This after they announced on Wednesday that stage 2 load shedding in be implemented to protect the country from a total collapse … So these are some of the guys who are refusing to be vetted by SSA we can't watch cause these no eletricty This is good news for me....stayindarksouthafrica
Source: SABC News Online - 🏆 32. / 51 Read more »