HARARE - A new and ambitious United Kingdom-based firm, NewCo Limited, intends to build a state-of-the-art transport network in Zimbabwe, The Zimbabwean can now reveal.The firm is led by Caleb Chihota who has more than 20 years experience in logistics. The co-director is Paul Marshall Sibanda, currently Managing Director of UK-based Afromed Limited.
Chihota said his company intended to raise US$50 000 from 500 individuals who would purchase shares in the project. He said each individual would be required to chip in US$100 and receive dividends when the ambitious project gets underway and becomes fully operational in Zimbabwe.
The ambitious project comes at a time when Zimbabwe’s roads are potholed, dusty and too small for the increasing traffic countrywide. City councils are seriously cash-strapped and do not have any funds to repair the roads, sometimes leading to serious road accidents and loss of lives.
Chihota said NewCo Limited would buy minibuses which would transport commuters throughout Zimbabwe at a nominal fee, but much cheaper than what is currently being demanded.
“The proposed passenger transportation company is being incorporated under the Zimbabwe Companies Act 24:03,” Chihota told The Zimbabwean.
Chihota said his minibuses would have up-to-date gadgets including a satellite tracking system, radio communications as well as tags to identify the driver and vehicle by the Zimbabwe Republic Police (ZRP).
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