The Infrastructure Development Bank of Zimbabwe (IDBZ) is a government-owned
development bank in
Zimbabwe
Zimbabwe (), officially the Republic of Zimbabwe, is a landlocked country located in Southeast Africa, between the Zambezi and Limpopo Rivers, bordered by South Africa to the south, Botswana to the south-west, Zambia to the north, and Mozam ...
, mandated to fund long and medium term funding for key infrastructure projects, including in the areas of transportation, housing, energy, ICT, water and sanitation.
Location
The headquarters of the bank are located at IDBZ House, 99 Gamal Abdel Nasser Road, in
Harare
Harare (; formerly Salisbury ) is the capital and most populous city of Zimbabwe. The city proper has an area of 940 km2 (371 mi2) and a population of 2.12 million in the 2012 census and an estimated 3.12 million in its metropolitan ...
, the capital city of Zimbabwe.
The geographical coordinates of the bank's headquarters are: 17°49'59.0"S, 31°02'23.0"E (Latitude:-17.833056; Longitude:31.039722).
The bank maintains a branch office at 263 Leopold Takawira Avenue, Khumalo, in the city of
Bulawayo
Bulawayo (, ; Ndebele: ''Bulawayo'') is the second largest city in Zimbabwe, and the largest city in the country's Matabeleland region. The city's population is disputed; the 2022 census listed it at 665,940, while the Bulawayo City Council cl ...
,
Zimbabwe's second largest city, approximately , south-west of Harare.
Overview
The IDBZ was established 31 August 2005, taking over the assets and liabilities of the former ''Zimbabwe Development Bank'' (“ZDB”). It was founded, primarily as a vehicle for the promotion of economic development, economic growth and improvement of the living standards of Zimbabweans, through the development of infrastructure. Infrastructure includes energy, housing, transport, information communication technology (ICT), water and sanitation, among other projects. The bank serves as an infrastructure development finance institution.
As of 31 December 2017, the bank's total assets were valued at US$188,983,280 with US$54,780,479 in shareholders' equity.
In late August 2018, the
Government of Zimbabwe increased the shareholding and capitalization of the bank by US$150 million, increasing the bank's total assets to over US$330 million and shareholding to over US$200 million.
Board of directors
As of September 2018, IDBZ's
board of directors
A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organiz ...
consisted of:
*
Willard Lowenstern Manungo: Chairman
* Thomas Zondo Sakala: Chief Executive Officer
* Vavarirai Humwe Choga
* Nelson Kudenga
* Joseph Mhakayakora
* Shadreck Sariri Mlambo
* Margaret Mazvita Mukahanana-Sangarwe
* Charles Simbarashe Tawha
Management
As of September 2018, IDBZ's management team was:
*
Thomas Zondo Sakala: Chief Executive Officer
* Desmond Matete: Director Infrastructure Projects
* Cassius Gambinga: Director of Finance
* Phillip Tadiwa: Director Corporate Services and Human Resources.
See also
*
Economy of Zimbabwe
The economy of Zimbabwe mainly relies on the tertiary sector of the economy, also known as the service sector of the economy, which makes up to 60% of total GDP as of 2017. Zimbabwe has the second biggest Informal economy in the world as a perc ...
*
List of banks in Zimbabwe
This is a list of "Operating Banking Institutions" in Zimbabwe.
# Agricultural Development Bank of Zimbabwe
# BancABC Zimbabwe
# CABS
# CBZ Bank Limited
# First Capital Bank Limited
# Ecobank Zimbabwe Limited
# FBC Bank Limited
# Nedbank ...
*
Trade and Development Bank
The Trade and Development Bank (TDB), formerly the PTA Bank, is a trade and development financial institution operating in eastern and southern Africa. TDB is the financial arm of the Common Market for Eastern and Southern Africa (COMESA), alth ...
*
Southern African Development Community
The Southern African Development Community (SADC) is an inter-governmental organization headquartered in Gaborone, Botswana.
Its goal is to further regional socio-economic cooperation and integration as well as political and security coopera ...
*
World Bank
The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Interna ...
References
External links
*
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Banks of Zimbabwe
Companies based in Harare
Government-owned companies of Zimbabwe
Banks established in 2005
2005 establishments in Zimbabwe