IDBZ poised to expand infrastructure spectrum 

Source: IDBZ poised to expand infrastructure spectrum – herald

Michael Tome-Business Reporter

THE Infrastructure and Development Bank of Zimbabwe (IDBZ) has broadened its spectrum of infrastructure projects to propel the country towards its Vision 2030 of becoming an upper-middle-income economy.

Following the success of the bank’s Clipsham Views Phase One, which delivered nearly 1 000 residential stands in Masvingo, the IDBZ has commenced phase two of the programme, expanding over 100 hectares under a public-private sector partnership.

IDBZ director of infrastructure projects, Dr Reggie Dangarembga, said they expected the second phase of the project to be completed within a year.

“We are now moving into Clipsham Phase Two, which sits on approximately 100 hectares. Our expectation is that within a year or so, the project will be completed.

“This is part of our broader effort to reduce the housing backlog nationwide.”

Dr Dangarembga also noted that IDBZ has housing developments underway in various urban centres across the country, including Harare, Bulawayo, Kadoma, Plumtree and Kwekwe.

Simultaneously, the IDBZ has rolled out a network of student accommodations across the country, tapping into special-purpose vehicles (SPVs) to foster partnerships with pension funds and insurers.

A prominent example is the Bulawayo Student Accommodation Complex, a US$16 million development with 516 double rooms accommodating over 1 000 students including ground-floor commercial outlets.

The complex was developed through Zimcampus Properties Ltd, in which IDBZ holds a 7,67 percent stake, while Old Mutual has 49,37 percent, Zimnat 23,52 percent, and the Motor Industry Pension Fund holds 19,44 percent.

Following this success, IDBZ has initiated preparatory phases for student housing projects at Lupane State University and Catholic University and in Bindura, Chinhoyi, Kwekwe, Mutare and Masvingo.

IDBZ believes this model is a replicable blueprint for mobilising institutional capital and alleviating student overcrowding.

During the Clipsham Phase One board site inspection, IDBZ chairman Dr Kupukile Mlambo reiterated the bank’s catalytic mandate to drive both infrastructure and development finance.

He highlighted the bank’s dual mandate of infrastructure and development finance, positioning it as a key enabler in achieving national goals under Vision 2030 and National Development Strategy 1 priorities.

“We are touring our projects to evaluate how they align with Zimbabwe’s development aspirations, especially the goal of attaining middle-income status by 2030. IDBZ is built on two core legs, infrastructure and development, and we are ensuring both are functioning effectively in pursuit of that vision,” Dr Mlambo said.

IDBZ’s housing footprint stretches beyond major cities.

In Harare’s Hatfield suburb, the bank is spearheading the construction of Mabuto Villas, composed of modern three-bedroom units priced at around US$152 250 and financed through flexible payment plans.

In Bulawayo, IDBZ has invested US$2,6 million in the Willgrove project, which will deliver 114 stands.

The bank has acquired 7,2 hectares in Plumtree to build mixed-use residential, medical and early childhood facilities in line with municipal master plans.

Similar residential initiatives in Filabusi and suburban plots north of Bulawayo, where duplexes and bio-digesters will be introduced to support sustainable living.

Under its infrastructure bond programme, expanded from US$2 billion to US$5 billion, IDBZ has mobilised over US$1 billion to support infrastructure projects.

The funds have financed the construction of Sumben Housing Phase One, which is 99 percent complete, Waneka Phase III, which is at 42 percent completion and the fully finished Elizabeth Park Housing Project.

The bank is now eyeing additional capital for the Willsgrove Housing Project in Bulawayo.

Beyond housing and energy, IDBZ has funded water and agricultural infrastructure projects.

It participated in the construction of Mutange Dam in Gokwe East, completed in 2016 to supply irrigation and township water. The reservoir has a 4,95 million cubic meters capacity.

Through blended financing, SPV structures and a geographically diversified portfolio, IDBZ is galvanised to support Vision 2030 and to bring transformative change across Zimbabwe’s cities, towns, and rural communities.