Press Release

21 Oct 2016

The Infrastructure Development Bank of Zimbabwe (“IDBZ”) is pleased to advise that the Government of Zimbabwe recently released an amount of US$20.3 million to the IDBZ to be applied towards completion of outstanding works at the Tokwe - Mukorsi Dam.

Since dollarisation, IDBZ has relied on short-term business for sustenance. This business model was necessitated by the short term nature of available funding in the domestic financial markets, as well as the Bank’s inability to raise long term funds from the international capital markets and official development assistance.

The IDBZ wishes to advise its clients and valued stakeholders that the legal case in which IDBZ and its partners (the Consortium) were suing Great Geeeees Property Investments Holdings Group (Private) Limited, an entity owned and/or controlled by one Mr. MMM Gapare has now been concluded in favour of the Consortium.

The Infrastructure Development Bank of Zimbabwe (“IDBZ”) wishes to advise its stakeholders that the housing project at Lot 2 of Clipsham, Masvingo is progressing in earnest according to plan.

In fullment of its mandate, the Bank mobilizes financial and technical resources towards the development of infrastructure in various sectors including the following: energy, transport, water and sanitation, information communication technology (ICT) and housing.

On the 23rd of September 2016 some unknown person sent out an email of apolitical nature using the address:info@idbz.co.zw. The Bank takes great exception to the abuse of its name and would like to publicly disassociate itself from the author of the email and the contents of the email.

The Infrastructure Development Bank of Zimbabwe will develop 338 high to medium density residential stands under its New Marimba housing project, a senior official with the bank said yesterday.

The NewsDay of Tuesday 23rd August 2016 at page 4 carried a misleading article titled “IDBZ fails to finish Kwekwe project”. The IDBZ wishes to categorically state that the said article was factually inaccurate and misleading to the public both in terms of the headline and content.

29 Sep 2016

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