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Business Reporter
FINANCE Minister Patrick Chinamasa has appointment renowned technocrat, Thomas Zondo Sakala, as the new chief executive officer of the Infrastructural Development Bank of Zimbabwe (IDBZ).
He replaces Charles Chikaura whose second five-year term at the helm of the bank expires on August 31, 2015.
“The Ministry of Finance and Economic Development announces the appointment of Thomas Zondo Sakala as the new chief executive officer of the Infrastructural Development Bank of Zimbabwe with effect from 1st September 2015,” said minister Chinamasa in a statement yesterday.
IDBZ is a statutory body established through an Act of Parliament, the Infrastructural Development Bank of Zimbabwe Act Chapter 24:14 to focus primarily on the development and funding of both public and private sector infrastructure projects in all key sectors of the economy.
“The ministry congratulates Sakala and wishes him a successful tenure of office. The ministry expresses its sincere gratitude to Chikaura for a largely successful tenure of office which, among many other notable achievements, he was instrumental in the setting up of the infrastructure revolving fund, which saw the rehabilitation and construction of various infrastructure projects in energy, housing, water, transport and communication sector,” said Minister Chinamasa.
Zondo Sakala was born on March 3, 1955.
He is an experienced economist and development banker who holds a Bachelor of Science Honours and a Masters’ Degree in Economics from the University of Ibadan, Nigeria.
He is former vice president of the African Development Bank in charge of country and regional programmes having worked on many development projects across the African continent.
Online Reporter