Freeman Razemba Senior Reporter THE Airports Company of Zimbabwe (ACZ) is holding its Annual General Meeting (AGM) to review its operations, financial performance and overall status for the financial years…
Freeman Razemba
Senior Reporter
THE Airports Company of Zimbabwe (ACZ) is holding its Annual General Meeting (AGM) to review its operations, financial performance and overall status for the financial years ending December 31, 2022 and 2023.
ACZ, which started operating in 2020, is managing eight airports in Zimbabwe, offering direct and fast access to the country’s tourist resort areas.
It was formed through the Civil Aviation Amendment Act, 2018 (No. 10 of 2018), mandated to acquire, establish, develop, maintain, manage, control, and operate airports.
Several officials from the Ministry of Transport and Infrastructural Development, ACZ board chairperson Advocate Tichaona John Muhonde; ACZ chief executive officer Mr Tawanda Gusha; and ACZ board members, among others, are attending the meeting.
In his remarks, the CEO, Mr Gusha, said the year was characterised by a turning point for the aviation industry as the World Health Organisation (WHO) declared a worldwide end to the COVID-19 Pandemic in May 2023, which saw a strong rebound in airline passenger numbers through all major airports in the world.
“The recovery was aided by China’s reopening, marking the end of its zero-COVID policy that it had in place for the past three years,” he said.
“Airlines carried 4 billion passengers in 2023, which was a notable increase from the 3.4 billion passengers carried in 2022.
“International tourism rebounded with over 1 billion international arrivals, up from 960 million in 2022. Globally, in the full year for 2023, the traffic was about 94,1 percent of the pre-pandemic levels, reflecting the strong recovery in the aviation sector.
“The strategic, financial and operational responses that we deployed enabled us to sustain the business as we plan to accommodate the future growth in passenger demand.”
He said the global economy faced significant challenges, including the ongoing conflict between Russia and Ukraine, which further disrupted supply chains, drove up energy prices, and contributed to persistent global inflation.
“The global GDP increased by 3,2 percent, which was a decrease from 3.6 percent witnessed in 2022,” Mr Gusha said.
“The GDP for Africa also decreased from 4,1 percent in 2022 to 3,1 percent in 2023 and this was influenced by the tight global financial conditions and the supply chain disruptions. The increasing impact of climate change and extreme weather events further compounded the challenges.”
