IDBZ accelerates infrastructure projects

STAFF WRITER

The Infrastructure Development Bank of Zimbabwe (IDBZ) has intensified its infrastructure development programme as it steps up efforts to support the country’s ambition of attaining upper-middle-income status by 2030.

Following the successful delivery of nearly 1,000 serviced residential stands under Clipsham Views Phase One in Masvingo, the bank has commenced Phase Two of the project, covering more than 100 hectares.

The development is being implemented through a public-private partnership model designed to mobilise private capital for critical infrastructure delivery.

IDBZ Director of Infrastructure Projects, Dr Reggie Dangarembga, confirmed that the second phase of the Clipsham project is progressing well and is expected to be completed within the next 12 months. He noted that this development forms part of the bank’s broader strategy to help ease Zimbabwe’s persistent housing backlog, which remains one of the country’s pressing socio-economic challenges.

“We are now rolling out Clipsham Phase Two, which spans approximately 100 hectares. We anticipate completing the project within a year. This forms part of our broader mandate to help reduce the national housing backlog,” said Dr Dangarembga.

Similar residential development projects are underway in various parts of the country, including Harare, Bulawayo, Kadoma, Plumtree, and Kwekwe. The bank is scaling up its interventions to address the country’s acute housing shortage, a key barrier to sustainable urban development.

Beyond residential housing, IDBZ has made significant inroads in the provision of student accommodation across Zimbabwe. The bank has adopted a Special Purpose Vehicle (SPV) model, working in partnership with institutional investors such as pension funds and insurance companies to deliver affordable and quality accommodation for tertiary students.

One of the flagship projects in this initiative is the Bulawayo Students Accommodation Complex, developed at a cost of US$16 million. The facility provides 516 double-occupancy rooms, housing over 1,000 students, and features commercial space on the ground floor. The project was implemented through ZimCampus Properties Limited, with IDBZ holding a 7.67 percent equity stake. Other shareholders include Old Mutual, which holds 49.37 percent, Zimnat with 23.52 percent, and the Motor Industry Pension Fund, which owns 19.44 percent.

Encouraged by the success of the Bulawayo project, IDBZ has commenced preparatory work for similar student accommodation developments in partnership with Lupane State University, Catholic University, and several other institutions. These initiatives are also being rolled out in key urban centres such as Bindura, Chinhoyi, Kwekwe, Mutare, and Masvingo. Dr Dangarembga described the student accommodation programme as a scalable and sustainable model that successfully mobilises institutional capital while addressing one of the most critical infrastructure gaps in Zimbabwe’s higher education sector.

During a recent site tour of the Clipsham Views Phase One project in Masvingo, IDBZ Board Chairperson Dr Kupukile Mlambo underscored the bank’s commitment to delivering infrastructure that supports Zimbabwe’s national development agenda.

“Our site inspections are critical in assessing the progress and impact of our projects in line with the national vision of attaining upper-middle-income status by 2030. IDBZ operates on two core pillars—infrastructure development and development finance—and we are focused on ensuring both deliver tangible, sustainable outcomes,” said Dr Mlambo.

In addition to its work in Masvingo, IDBZ is implementing a diverse portfolio of housing developments in other regions. In Harare’s Hatfield suburb, the bank is developing Mabuto Villas, a modern residential complex offering three-bedroom units. The homes are priced at approximately US$152,250, with flexible payment options to enhance accessibility for aspiring homeowners.

In Bulawayo, the bank has committed US$2.6 million towards the Willsgrove Housing Project, which will deliver 114 fully serviced residential stands. In the town of Plumtree, IDBZ has secured 7.2 hectares of land for a mixed-use development that will feature residential, healthcare, and early childhood education facilities. The project is being implemented in alignment with the town’s master plan, reflecting IDBZ’s emphasis on structured and sustainable urban expansion.

Further developments are underway in Filabusi and in northern Bulawayo, where the bank is incorporating environmentally friendly design elements, including duplex housing units and bio-digesters. These features are aimed at promoting eco-friendly living and reducing the environmental footprint of urban expansion.

To support its growing infrastructure pipeline, IDBZ has significantly expanded its Infrastructure Bond Programme. Initially set at US$2 billion, the programme has now been scaled up to US$5 billion, with more than US$1 billion successfully raised to date. The proceeds from this ambitious initiative have been channelled towards major housing and infrastructure projects across the country.

Among the projects funded through the bond programme is Sumben Housing Phase One, which is now 99 percent complete. Another project, Waneka Phase III, is currently 42 percent complete, while the Elizabeth Park Housing Project has been fully completed, providing much-needed residential units for Zimbabweans.

Looking ahead, IDBZ is actively engaging with potential investors and development partners to mobilise additional capital required to finance a wide range of infrastructure projects. These include investments in energy, transport, and social infrastructure, all of which are critical to Zimbabwe’s economic transformation and industrial growth.

The bank remains a central player in the implementation of infrastructure projects that align with national priorities under Vision 2030. Through its interventions, IDBZ is not only contributing to the reduction of the housing deficit but also supporting job creation, improved urban planning, and enhanced living conditions for communities across Zimbabwe.