The Infrastructure Development Bank of Zimbabwe (IDBZ) is a government-owned development bank in Zimbabwe, 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, 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, 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 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.