ICT

The Bank is actively involved in the financing of ICT projects using its own funds and Government of Zimbabwe Public Sector Investment Programme (PSIP) Funds.  Financing for the ICT sector is directed towards Infrastructure such as optical fibre backbone and equipment.

Key ICT Projects funded by IDBZ:

Project

Sponsor /Borrower

Instrument

Project Value

Africom Continental

Africom (Private) Limited

Equity

 30% Shareholding

Pilot Border Automation Project

AfroSoft Holdings

Debt

US$1,800,000

Optic Fibre network

Telone

PSIP Funds

US$17,900,000

Africom Continental

IDBZ holds 30% of Africom Continental together with NSSA (20%) and Africom (Private) Limited (50%). In addition to contributing equity to the Project, the Bank also secured an advisory services mandate from the Company to develop a project finance model for the purpose of raising additional capital.

Afrosoft Holdings

The Bank provided debt funding to Afrosoft Holdings to implement a pilot project for the Border Automation project. The automation project is part of the Government’s strategy to embrace the use of ICTs by introducing various e-Government services to the citizenry. The project will improve accountability, service delivery, revenue collection, port management and information sharing by the Immigration Department. 

TelOne

State-owned fixed telecommunication provider, TelOne, fibre optic initiative to increase connectivity across the country was funded by the Government of Zimbabwe under the Public Sector Investments Programme. The Bank through the agency agreement signed with Government of Zimbabwe was responsible for disbursing funds and monitoring the project on behalf of the principal.