IDBZ mulls $54m bond

THE Infrastructure Development Bank of Zimbabwe (IDBZ) plans to issue a $54 million bond to finance expansion programmes at State-owned telecoms firm TelOne and the Zimbabwe Power Company (ZPC) at the beginning of next year, a company official has said.
Tarisai Mandizha

Speaking at the official opening of the Zimbabwe Development Finance School in Harare yesterday, IDBZ chief executive officer Charles Chikaura said last year the bank issued $30 million bonds and this year was going to return to the market to raise $54 million.

The IDBZ issued the $30 million bonds on October 29 2012 to fund the retrofitting of prepaid meters in homes and small institutions countrywide which were installed by the Zimbabwe Electricity Transmission and Distribution Company.

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