As it scaled efforts to deliver on its Housing/Social Infrastructure mandate, the Infrastructure and Development Bank of Zimbabwe (“IDBZ/ the Bank”) encountered a number of challenges, especially as pertains bottlenecks around securing suitable land sites on which to implement projects. Consequently, Management proposed and received Board approval in the 2018 and 2019 Work Programmes and Budgets for a total amount of US$20 million towards acquisition of land across the country.
The acquired land will be used during the implementation of social infrastructure projects in the areas of affordable housing (including flats), students and staff accommodation; health and academic professionals’ accommodation facilities; as well as tourism and hospitality infrastructure. In addition, the acquired immovable property stocks have significantly assisted in shoring up the Bank’s balance sheet in the medium to long term thus preserving shareholder value.