THE Infrastructure and Development Bank of Zimbabwe (IDBZ) has undertaken a strategic balance sheet restructuring by divesting underperforming investment properties.
This move aims to mitigate the threats posed by exchange rate volatility and soaring inflation during the year ending December 31, 2023.
The past year proved challenging for Zimbabwean businesses, including financial providers, as the local currency continued its depreciation against the US dollar, coupled with triple-digit inflation.
IDBZ chief executive, Zondo Sakala said the bank weathered these storms by implementing measures such as investing in projects linked to the US dollar and disposing of underperforming properties and assets.