IDBZ opens new office in Bulawayo

IDBZ opens new office in Bulawayo
Published: 03 July 2018 (73 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

Mugabe's son admitted to Parirenywatwa hospital

by Staff Reporter | 18 July 2018 | 111 Views

What are some of the best online games?

by Agencies | 18 July 2018 | 47 Views

Seizing opportunities in Zimbabwe's new era

by Never Ncube | 18 July 2018 | 63 Views

Chamisa rejects Zec's conditions for talks

by Staff reporter | 18 July 2018 | 91 Views

Tamborinyoka charged again for defacing posters

by Staff reporter | 18 July 2018 | 48 Views

Khupe, Wilson pledge to revive Bulawayo

by Staff reporter | 18 July 2018 | 52 Views

70% think Zec is non-partisan?

by Staff reporter | 18 July 2018 | 45 Views

ZEC intensifies preps for elections

by Staff reporter | 18 July 2018 | 42 Views

Woman assaults step daughter

by Staff reporter | 18 July 2018 | 48 Views

Chikurubi inmates graduate

by Staff reporter | 18 July 2018 | 46 Views

Inmate 'demands' kiss

by Staff reporter | 18 July 2018 | 44 Views

Pokello's son in Young Warriors team

by Staff reporter | 18 July 2018 | 37 Views

Is Mnangagwa going the Yahya Jammeh-way?

by Benny Gudo | 18 July 2018 | 43 Views

King Lobengula Foundation celebrates Mandela100 Centenary

by Sizwe Mda | 18 July 2018 | 44 Views

WATCH: Mnangagwa's message to fellow Twimbos

by Staff Reporter | 18 July 2018 | 49 Views

Zimbabwe dismisses new currency claims

by Staff reporter | 18 July 2018 | 46 Views

Mnangagwa says, 'Zim poised to be jewel of Africa'

by Staff reporter | 18 July 2018 | 160 Views

Pay rise for civil servants

by Staff reporter | 18 July 2018 | 213 Views

Inside Chamisa's winter of discontent

by Tichaona Zindoga | 18 July 2018 | 199 Views

Fading giants name new club boss

by Staff rpeorter | 18 July 2018 | 157 Views

Mnangagwa to name, shame land barons

by Staff reporter | 18 July 2018 | 180 Views

Matanga bans Chihuri raffle ticket sales

by Staff reporter | 18 July 2018 | 163 Views

Goba tribunal takes oath of office

by Staff reporter | 18 July 2018 | 115 Views

Hands off ZEC, says Youth League

by Staff reporter | 18 July 2018 | 129 Views

MDC-Alliance spoiling for fight they can’t win

by Lloyd Msipa | 18 July 2018 | 132 Views

Victory is certain, claims Mnangagwa

by Staff reporter | 18 July 2018 | 113 Views

Zimbabwe inflation rate hits 2,91%

by Staff reporter | 18 July 2018 | 110 Views

Bosso set for EGM

by Staff rpeorter | 18 July 2018 | 99 Views

Air Zimbabwe offers reward package

by Staff reporter | 18 July 2018 | 134 Views

Bosso fans group donate to ball-boys

by Staff reporter | 18 July 2018 | 66 Views

'Review of taxes, utility costs'

by Staff reporter | 18 July 2018 | 124 Views

Teachers sue property developer after stands deal sours

by Staff reporter | 18 July 2018 | 123 Views

Cheating couple locked up

by Staff reporter | 18 July 2018 | 187 Views

Cold spells till August

by Staff reporter | 18 July 2018 | 163 Views

Hippo attack, drown women in Zambezi river

by Staff reporter | 18 July 2018 | 126 Views

Tamborinyoka seeks removal from remand

by Staff reporter | 18 July 2018 | 115 Views

Chamisa's postal vote challenge hits a brickwall

by Staff reporter | 18 July 2018 | 181 Views