IDBZ opens new office in Bulawayo

IDBZ opens new office in Bulawayo
Published: 03 July 2018 (237 Views)
THE Infrastructure Development Bank of Zimbabwe (IDBZ) yesterday officially commissioned its southern regional office in Bulawayo, positioning itself to adequately steer infrastructure projects across the country.

Finance and Economic Planning Minister Patrick Chinamasa said in a speech read on his behalf by his Permanent Secretary Mr Willard Manungo during the commissioning event that Government was ready to capacitate the institution to ensure it effectively delivers on its mandate.

He said IDBZ Bulawayo regional office was being opened against Government renewed drive to accelerate infrastructure development in the country, which was a key enabler in facilitating sustainable and inclusive social and economic development.

"Government, on its part promises to make it possible for the bank to deliver on its mandate by adequately capitalising it, with $20 million additional funding having already been availed in the 2018 budget.

"In order to augument these resources, Government is engaging other critical stakeholders, especially in the private sector and other external development financial institutions," said Minister Chinamasa.

He said the Government was also pursuing the partial privatisation of the bank as a way of attracting fresh capital from other investors within and outside Zimbabwe.

Minister Chinamasa said the commissioning of IDBZ's Bulawayo regional office confirms the bank's unwavering support of Government's goal to ensure nationwide infrastructure development was evenly distributed across the provinces.

It is hoped that the presence of IDBZ in Bulawayo will go a long way in spearheading infrastructure projects in the southern and western parts of the country in areas of energy, transport, water and sanitation, information communication technology and housing, among others.

The minister said the bank was making significant strides in promoting infrastructure development through various projects such as Empumalanga West housing project in Hwange, Kariba housing project, the Zimbabwe Electricity Transmission and Distribution Company prepaid metering system with the investments at different levels of implementation.

"To this end, I am told that the bank has already started rolling out important infrastructure projects through the regional office, with the bank having already acquired sites for housing projects specifically in Bulawayo, Zvishavane, Hwange, Lupane, Plumtree, and Gwanda," he said.

Minister Chinamasa also applauded IDBZ for playing a key role in reducing shortage of student accommodation at institutions of higher learning across the country.

In an interview, IDBZ chief executive officer Mr Zondo Sakala said the opening of the Bulawayo regional office was a symbol of the bank's commitment to deepen its role in promoting infrastructure development efforts across the country.

"We saw it fit given the importance of this part of the country in terms of the potential and of course the need and we are talking of the whole western and southern part of the country.

"We want to have a strong enough presence on the ground to ensure that there is deep dialogue and building of partnerships and also better understanding on our part as to what the challenges and ambitions are," he said.

Mr Sakala said IDBZ was mandated to manage Government funds on a number of public sector investment programmes with a significant figure of such projects like the Gwayi-Shangani Dam being in the southern and western parts of Zimbabwe.

"So, it's also important that we will be close enough to the projects themselves so as to provide timely monitoring and advisory services.

"We are happy that we now have this office (Bulawayo region) and we are going to put more staff and we have also upgraded the level of leadership in the office, it is now led by a manager, who is part of the overall management team of IDBZ," he said.

- chronicle

Tags: IDBZ, Office, Bulawayo,
 0

You May Like These Videos

Comments

There are no comments.

Latest stories

Parents skeptical about their children's safety

by Staff reporter | 19 January 2019 | 148 Views

BREAKING: MDC leader's young brother abducted

by Mandla Ndlovu | 19 January 2019 | 215 Views

Mnangagwa puts Zimbabweans on thin ice

by Presia Ngulube | 19 January 2019 | 262 Views

PHOTO: Kombi crews and their passengers being searched at roadblock

by Justin Mutenda | 19 January 2019 | 206 Views

PHOTO: Results of stupidity

by John Manzongo | 19 January 2019 | 228 Views

PHOTOS: Chamisa attends funeral of 22 year old army victim

by Mandla Ndlovu | 19 January 2019 | 241 Views

WATCH: Police and Army bosses disown officers killing citizens

by Mandla Ndlovu | 19 January 2019 | 205 Views

Mnangagwa arrives in Kazakhstan

by Staff reporter | 19 January 2019 | 145 Views

Zupco re-introduced in towns, $1 trip

by Staff reporter | 19 January 2019 | 164 Views

Chamisa's allies charged for subverting Mnangagwa's govt

by Staff reporter | 19 January 2019 | 126 Views

Zimbabwe eyes rejoining London Bullion Market

by Staff reporter | 19 January 2019 | 107 Views

Mnangagwa offering scholarships to study in Russia and Azerbaijan

by Presidential And National Scholarships Department | 19 January 2019 | 112 Views

ZANU PF in crunch meetings over army killings

by Mandla Ndlovu | 19 January 2019 | 303 Views

WATCH: Temba Mliswa supports deployment of army to crush citizens

by Mandla Ndlovu | 19 January 2019 | 202 Views

How impartial are these human rights organisations?

by Munya Shumba | 19 January 2019 | 138 Views

Zimbabwe explains reason for blocking social media

by Staff reporter | 19 January 2019 | 232 Views

'Third hand behind Zimbabwe disturbances'

by Staff reporter | 19 January 2019 | 232 Views

300 suspected looters arrested in Bulawayo

by Staff reporter | 19 January 2019 | 119 Views

Zimbabwe protest death toll from riots rises to 12

by Staff reporter | 19 January 2019 | 119 Views

Married woman follows rapist for more sex

by Staff reporter | 19 January 2019 | 141 Views

Mnangagwa urged to dump Davos tour

by newzimbabwe.com | 19 January 2019 | 115 Views

Teacher kills self in school storeroom

by Staff reporter | 19 January 2019 | 118 Views

Another Grace Mugabe in the making!

by Mapombi Adonha | 19 January 2019 | 200 Views

Govt employees abandon politicised clean-up campaign in Gutu

by Staff reporter | 19 January 2019 | 76 Views

War vets endorse MDC Alliance town chair

by Staff reporter | 19 January 2019 | 123 Views

Violent Zimbabwe protest organiser goes into hiding

by newzimbabwe | 19 January 2019 | 113 Views

Chamisa's supporters in SA ask for ANC to step in

by African News Agency | 19 January 2019 | 92 Views

Plot to embarrass Mnangagwa in Switzerland

by Staff reporter | 19 January 2019 | 142 Views

'Hyenas & dogs masquerading as protesters went on a rampage in Bulawayo'

by Ezra Tshisa Sibanda | 19 January 2019 | 226 Views

Why is Zimbabwe in this situation, God of Zimbabwe where are you?

by Dr Masimba Mavaza | 19 January 2019 | 168 Views

Plot to oust Chiwenga thickens

by Mandla Ndlovu | 19 January 2019 | 391 Views

A responsible govt cannot ignore Its citizens Mnangagwa has failed us

by Mbonisi Solomon Gumbo | 19 January 2019 | 169 Views

Imports push fridge makers to the edge

by Staff reporter | 19 January 2019 | 140 Views

Mnangagwa needs a proper team

by Cephas Msipa | 19 January 2019 | 148 Views

Mining sector to meet Chitando over forex allocation

by Staff reporter | 19 January 2019 | 100 Views

More deadly protests lined-up in Zimbabwe

by Staff reporter | 19 January 2019 | 251 Views

Zimbabwe local currency recipe for disaster

by Staff reporter | 19 January 2019 | 141 Views