Operating Banking Institutions

First Capital Bank Limited (formerly Barclays Bank of Zimbabwe Limited)


Head Office

1st Street/Jason Moyo Avenue,
Telephone: +263 - 4- 758280 - 99 or 758324-8
Fax: +263 - 4- 752913
Telex: 26434, 26057 ZW

Website: zw.barclays.com

Postal Address:

P.O.Box 1279,

Type of bank: Commercial Bank

Date of establishment: 1912


  • 1912; Opened first branch after Bank of Africa was acquired by National bank of South Africa and effectively became Barclays Bank controlled from South Africa.
  • 1928; as the business grew, the first Barclays Committee was established, responsible for local controls based in Bulawayo. 10 branches were opened by that time.
  • 1956; Barclays was the first bank to introduce computers making banking service delivery increasingly efficient. During that time Barclays was implementing a comprehensive training programme running between 1951-1958.
  • 1960; Barclays was the first to introduce the first night safe  and safe deposit facility featured on its newly established 8-storey head office in Harare built out of diamante  sandstone on a black granite plinth and designed by Francis Lorne.
  • 1987; the first country branch was established in Gokwe officially opened by the then Deputy Prime Minister who praised Barclays for heeding the government’s call to bring banking to rural people.
  • 1991; Barclays was the first financial institution to offer 30% of its shares to the public in an effort to encourage Zimbabwe to become first time investors. The issue was oversubscribed five-fold and caused a record rise in stock market prices.
  • 1993; Barclays was one of the only two banks to have installed ATMs to improve service delivery and by 1993 Barclays had 50 ATMs.
  • 2008-2012; Barclays rationalised its support structures and foot print in line with business levels obtaining which resulted in reduction in fulltime employees from a peak of 1,423 in January 2008 to around 700 currently.


Ownership: Barclays Bank of Zimbabwe Limited is a subsidiary of Barclays Bank plc, which is

the majority shareholder of the bank. It is locally registered and is a publicly quoted company with the investing public holding 32.04% shares. Major

shareholders in the bank AS AT 30 JUNE 2014 are:

  • Afcarme Zimbabwe Holding PL 67.68%
  • Old Mutual Life Assurance LTD 4.50%

Chairman: Sydney Mtsambiwa

Chief Executive Officer: Samuel Matsekete

Auditors : KPMG Chartered Accountants

Number of employees: 711

Number of branches : 31



Infrastructure Development Bank of Zimbabwe (IDBZ)

Head Office
IDBZ House,
99 Rotten Row,
Telephone: (263-4) 750171-8
Fax: (263-4) 749012,

Postal Address
Box 1720,

Website: www.idbz.co.zw

Type of Bank: Infrastructure Development Bank

Date of Establishment: 31 August 2005


The Infrastructure Development Bank of Zimbabwe (“IDBZ”) was established on the 31stAugust 2005, and is governed, by an Act of Parliament, the Infrastructure Development Bank of Zimbabwe Act [Chapter 24:14]. The Bank was set up as a successor organization to the Zimbabwe Development Bank (“ZDB”), but with an expanded mandate mainly focusing on infrastructure development as the anchor in further stimulating and supporting the economic and social development of Zimbabwe.

The bank was primarily set up as a vehicle for the promotion of economic development and growth, and improvement of the living standards of Zimbabweans through the development of infrastructure, which includes but not limited to roads, dams, water reticulation, housing, sewerage, technology, amenities and utilities.

The Bank’s corporate objectives as prescribed by the IDBZ Act [Chapter 24:14] are:

  • to promote economic development and growth, and to improve the living standards of Zimbabweans, through the development of infrastructure including, but not limited to, roads, dams, water reticulation, housing, sewerage, technology, energy, amenities and utilities;
  • to develop institutional capacity in undertakings and enterprises of all kinds in Zimbabwe; and
  • to support development projects and programmes in infrastructure sectors of the Zimbabwean economy.

In addition to the principal act, the institution is also guided by the Public Finance Management Act, [Chapter 22:19], No. 11 of 2009 and the Corporate Governance Framework for State Enterprises and Parastatals of November 2010, in its day to day operations.

With effect from 2 January 2015, IDBZ was brought under the supervisory purview of the Reserve Bank of Zimbabwe through amendments to the Banking Act, [Chapter 24:20].


Government of Zimbabwe 87.24%

Reserve Bank of Zimbabwe 12.43%

Local institutional investors and foreign development finance institutions 0.33%

Chairman: Mr. Willard Manungo

Chief Executive Officer: Mr. Thomas Zondo Sakala

Auditors : Deloitte & Touché, Chartered Accountants

Number of employees: 82

Number of branches : 2