THE Airports Company of Zimbabwe (ACZ) has set high-level targets for 2024 that include enhanced safety and security, diversification of revenue streams, as well as better-quality airport facilitation as it pursues a 2030 vision of being a regional choice in airport services.
ACZ ended 2023 on a high note having achieved a number of major milestones that include the rehabilitation of the Robert Gabriel Mugabe International Airport (RGMIA) to world-class standards and also the Victoria Falls International Airport that is now playing host to several world-acclaimed international airlines.
The company is also targeting to complete outstanding strategic initiatives during the course of the year that will enhance revenue growth and non-aeronautical revenue contribution among others.
In 2023, ACZ achieved the airline frequencies target and recorded 299, an increase from 240 in December 2022, while four new airlines, new routes and added frequencies on existing routes contributed to the attainment of the achievement.
Revenues generated was US$23.9 million by October while expected annual revenues were US$30.9 million.
Presenting on the ACZ 2023 Strategic Overview recently at the ACZ Strategic Planning Workshop, the company’s Finance director, Mr Verengai Ruswa said ACZ has been on a growth drive since inception.
“Strategic focus has been on route development initiatives, collaborative destination marketing, skills development and retention, stakeholders’ engagement and collaborations (Airports Council International (ACI), Zimbabwe Tourism Authority (ZTA), Public Sector Construction Productivity Fund (PSCPF), Zimbabwe Investment and Development Agency (Zida) and private sector),” he said.
He said of key was also non-aeronautical revenue development, infrastructure development and maintenance as well as cost containment and efficiency monitoring.
On high-level targets for 2024, Mr Ruswa said on governance and administration they were aiming for improved organisational performance and improved compliance score.
“This will ensure we attain 10 percent revenue growth, 20 percent non-aeronautical revenue contribution and 100 percent compliance score with Public Enterprises Corporate Governance Act (PECOGA) and Civil Aviation Authority (CAA).”
He said on airport operations and management they were targeting improved airport facilitation, enhanced safety and security which would see the complete upgrade of facilitation systems.
Mr Ruswa said on airport infrastructure development, there was a need for improved airport infrastructure which would include the completion of refurbishment of domestic and old international terminal buildings at Robert Gabriel Mugabe International Airport (RGMIA), sourcing of financing for non-aero initiatives, 100 percent implementation of maintenance plans and development of master-plans.
“On key strategies for 2024, ACZ’s focus will be on diversification of revenue streams such as airport hotels in partnership with Public Service Commission (PSC) Pension Fund and Cargo Village at RGMIA among others.”
“Other revenue streams will be activation of cargo potential at Joshua Mqabuko Nkomo International Airport, a solar farm at the airport as well as at RGMIA and Victoria Falls International Airport. We will also uplift catering facilities at VFIA and RGMIA and consider acquisition of property to cushion for movements in aviation-related revenues.”
Mr Ruswa said continued collaboration in air service development to attract new airlines and market Zimbabwe as a destination was critical, as well as growing domestic capacity in conjunction with Zimbabwe Tourism Authority (ZTA), Zimbabwe Investment and Development Agency, airlines and tourism industry players.
He said there was need to grow air cargo to drive growth other than passenger business and exploration of sources of funding which do not exert undue pressure on the fiscus or on the ACZ balance sheet, while various Public-Private Partnerships (PPPs) iterations were being considered among other strategies.
Established in 2018, through an Act of Parliament, the Civil Aviation Amendment Act, 2018 (No. 10 of 2018), ACZ’s mission is to optimise the customer’s travel experience through sustainable development and management of quality airports.
SOURCE : ZIM SITUATION
