CAAZ embarks on asset verification exercise

Civil Aviation Authority Zimbabwe (CAAZ )says it has begun the process of unbundling with an Inter-ministerial committee conducting an asset verification exercise which will inform the split process.

Last year, government enacted Civil Aviation Amendment Act which will see the regulator stand alone and the establishment of a separate entity, the Airports Company of Zimbabwe.

CAAZ Acting director-general Margaret Mantiziba told the Parliament Portfolio Committee on Transport and Infrastructure Development during a tour that the company was insolvent due to legacy debt amounting to US$268 million split as foreign debt, of US$ 166 million and shareholder loans worth US$102 million.

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