Business Development

Infrastructure Development Bank of Zimbabwe disappoints Gweru City


By Abigail Mzimbawakhe (Midlands Correspondent)


The Infrastructure Development Bank of Zimbabwe (IDBZ) which had promised to fund the drilling of 20 commercial boreholes has disappointed Gweru City Council (GCC) after it lost the inflated US$6 million tender to source funding and supply pumps for Amapongokwe Dam.


The issue of the commercial boreholes was revealed recently by Ward 13 Councillor Mrs Catherine Mhondiwa during a full council meeting which was supported by Town Clerk Ms Elizabeth Gwatipedza saying IDBZ had promised to fund the commercial boreholes with money amounting to US$300 000 but is no longer interested in the deal.


Councillor Mhondiwa said that she heard that IDBZ which had promised to assist the Local Authority with the drilling boreholes muted the issue as they were not happy with their acquiring of pumps of Amapongokwe Dam.


“The IDBZ which was supposed to help us drill the boreholes was probably not happy with the pumps that we got as they had charged a higher price. Because of the exorbitant prices, IDBZ muted the issue of the commercial boreholes,” Councillor Mhondiwa said.


The Town Clerk Ms Gwatipedza said the city fathers passed the idea of commercial boreholes with an assumption that the Infrastructure Development Bank of Zimbabwe was going to assist them with the drilling and supply of all the equipment needed.


“IDBZ was going to be our technical partner in terms of looking for funding for all the water and sewerage waste management where we applied for about US$115 million loan which is still work in progress. IDBZ then made some assessments and initial studies and recommended the sinking of the commercial boreholes while funding was still being sourced which, if approved, they were then to deduct the amount from the loan,” said the Town Clerk.


Ms Gwatipedza went on to say that when IDBZ heard that the government had managed to acquire four pumps for Amapongokwe Dam, they made a summersault and was no longer willing to assist so if the council is willing to drill boreholes it must source funds from council revenue or borrow.



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Byron Adonis Mutingwende