Online Reporter
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, IDBZ has started 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 said IDBZ had 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, and including ground-floor commercial outlets.
The complex was developed through Zimcampus Properties Ltd, in which IDBZ holds 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 that this model is a replicable blueprint for mobilising institutional capital and alleviating student overcrowding.
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