| Infrastructure Development Bank of Zimbabwe | |
| Type: | Parastatal |
| Owner: | Government of Zimbabwe |
| Location: | IDBZ House, 99 Rotten Row, Harare, Zimbabwe |
| Key People: | Willard Lowenstern Manungo Chairman Thomas Zondo Sakala Chief Executive Officer |
| Num Employees: | 82 (2017) |
| Industry: | Finance |
| Revenue: | Aftertax:US$613 505 (2017) |
| Assets: | US$188,983,280 (2017) |
| Products: | Loans, Equity partnerships, Infrastructure development |
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.[1]
The headquarters of the bank are located at IDBZ House, 99 Gamal Abdel Nasser Road, in Harare, the capital city of Zimbabwe.[2] 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,[2] Zimbabwe's second largest city, approximately 438km (272miles), south-west of Harare.[3]
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.[4]
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.[5] 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.[5]
As of September 2018, IDBZ's board of directors consisted of:[6]
As of September 2018, IDBZ's management team was:[7]