Location
The Bank's Headquarters Is Located In The IDBZ Building In Harare, The Capital Of Zimbabwe, At 99 Gamal Abdel Nasser Road. 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 Has A Branch At 263 Leopold Takawilla Avenue In Kumalo, Bulawayo City, Zimbabwe's Second Largest City, Approximately 438 Kilometers (272 Miles) Southwest Of Harare.
Overview
IDBZ Was Established On 31 August 2005 To Take Over The Assets And Liabilities Of The Former Development Bank Of Zimbabwe (the "Development Bank Of Zimbabwe"). Its Main Purpose Is To Promote Economic Development, Economic Growth And Improve The Standard Of Living Of Zimbabweans Through The Development Of Infrastructure. Infrastructure Includes Projects Such As Energy, Housing, Transport, Information Communication Technology (ICT), Water And Sanitation. The Bank Is An Infrastructure Development Financial Institution Group.
As Of 31 December 2017, The Total Asset Value Of The Bank Was $188,983,280, Of Which The Shareholders' Equity Was $54,780,479. In Late August 2018, The Zimbabwean Government Increased The Bank's Equity And Capitalisation By $150 Million, Bringing The Bank's Total Assets To Over $330 Million And The Shareholding Ratio To Over $200 Million.
Board Of Directors
As Of September 2018, The Board Of Directors Of IDBZ Consists Of The Following:
- Willard Lowenstern Manungo: Chairperson
- Thomas Zondo Sakala: Chief Executive Officer
- Vavarile Humwe Joga
- Nelson Kudenga
- Joseph Makayakola
- Shadrek Sarri Mlambo
- Margaret Mazwita Mukahana-Sangawi
- Charles Simbarash Tava
Management
As Of September 2018, The Management Team Of IDBZ Is:
- Thomas Zondo Sakala: CEO
- Desmond Matete: Director Of Infrastructure Projects
- Cassius Gambinga: CFO
- Phillip Tadiwa: Director Of Enterprise Services And Human Resources.
